Factoring Receivables & Asset Based Financing for the Oilfield Industry
- Financing Rates at 0.69% - 1.59%
- No Financials - No monthly minimums - No invoice minimums
- No facility fees - No audits - No up-front fees - No hidden fees
- Set up account in 3 to 5 working days - 24 hr funding thereafter
- Credit Lines starting at $5,000 & up to 10 million
- Customer referrals upon your request
- We Make Same Day Decisions
Call Now 1 800 876 6071
Is your money tied up in 30 to 60 day terms to your customers?
Financing the oilfield industry is a very simple process for us. At 1st Commercial Credit, we can provide your business with working capital by using your accounts receivable as collateral. This type of financial service is available to oil and gas exploration service providers and field equipment suppliers such as seismic survey or geophysical operators, manufacturers of drilling fluids, drill rigs, lifts, geophysical prospecting equipment, pipes, pumps, production tools, valves, wellheads and many more.
1st Commercial Credit is a factoring company that provides receivable factoring and asset based lending solutions commonly used by oilfield service providers.
Oilfield Service companies have to sell on open credit terms. Due to the nature of long collections in the oil and gas industry, accounts receivable become a tangible asset that is easily taped into liquid cash flow. Many large companies use this type of financing to increase their cash flow for daily expenses. There is no need to borrow money if you have uncollected receivables from good credit worthy accounts.
Another option is our Asset Based Financing that offers the highest advance rate against your inventory and accounts receivable in comparison to a bank. In some industries and depending on the inventory, we can advance up to 100% of the auction value.
Call Now 1 800 876 6071
Asset Based Lending and Factoring for Oilfield Service Companies
Many large companies use this type of financing to increase their cash flow for daily expenses. There is no need to borrow money if you have uncollected receivables from good credit worthy accounts.
1st Commercial Credit offers factoring services to small and medium size businesses with as little as $10,000 a month in sales volume and up to $10 million in receivable assets. If your business would benefit by converting your accounts receivable to working capital, we can help. Get initial funding in 3 to 5 working days. No financials needed, No up-front fees to set up, it is that easy.
There are plenty of reasons why 1st Commercial Credit stands out from all other financial institutions. Our offers put your interest above all else.
- We offer high credit limits from the beginning capable of increasing depending on your needs and qualifications
- Decisions are made within the day
- Account set-up can be accomplished in 3 to 5 working days and funding occurs within the following 24 hours
- You do not have to worry about financials, monthly minimums or even invoice minimums
- We do not require facility fees
- Factoring receivables with us do not involve up-front fees, audits or hidden charges
- We can provide customer referrals
Who Are the Oilfield providers that take advantage of our financing programs
- Cash flow is hindered because accounts receivable is coming in slowly
- Manufacturing is beginning to progress but their sales history and recorded earnings will not qualify for rigid bank loans
- Absence of finance base for new businesses
- Uneven spike in sales
- Traditional financing has been exhausted and declined
Because we intend to serve you faster and better, we make processing much easier too.
- Accomplish 2-page application
- Provide accounts receivable aging report
- Furnish a list of the customers including the credit limit request
- Submit Articles of Incorporation
- Include the rate confirmation agreement or purchase order
- Present the invoices to factor
Service companies that are in the oil and gas industry that need to offer credit terms to customers utilize our funding program. Oilfield companies can easily tap into their receivables asset for immediate cash flow. You may offer credit terms to new and larger customers at an affordable cost, take advantage of early pay discounts offered by your suppliers, buy larger quantities with additional discounts, and countless other opportunities that your manufacturing business is missing out on.
1st Commercial Credit, a nationwide factoring company headquartered in Austin, Texas. Provides accounts receivable financing in the US, Canada, and the UK; offers export trade finance to clients in every major world market and can convert receivable finance transactions in 17 currencies.
We've got you covered
We offer lending services in the United States, Canada and the UK
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Call Now1 800 876 6071Click Here for a Quote Rates At 0.69% - 1.59%
Most Popular Links:
- Accounts Receivable Loans
- Accounts Receivable Funding
- Invoice Factoring
- Invoice Lending Services
- Cash Flow Lender
- Purchase Order Financing
- International Factoring
- Bank Factoring
- Invoice Discounting
- Payroll Funding
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