In the gas and oil industry, you need working capital to keep operations running smoothly. If you’re tired of waiting for customers to pay your invoices, oilfield factoring is a way to get paid faster so you can meet payroll, manage your expenses, and focus on your business.
Oilfield factoring streamlines your payment and collection process. By selling your invoices to a factoring company, you can get paid immediately and stop worrying about late payments and collections. This keeps your cash flow healthy without having to take out loans or dip into a line of credit.
What Is Oilfield Factoring?
TXP Capital provides invoice factoring services for companies in the oil and gas industry.
Once you’ve signed up for our service, you submit your invoices to us rather than your customers. We buy the invoice from you and pay you immediately. From there, we take on the responsibility of sending out invoices and collecting from your customers so you can focus on your business.
Companies of all sizes use oilfield factoring to keep their business healthy. Not only will you get paid more quickly, but you also eliminate having to deal with paperwork or chase payments. TXP Capital has a dedicated team that tracks invoices and collects receivables.
How Much Does Oilfield Invoice Factoring Cost?
An invoice factoring company will charge a small percentage of your invoice in exchange for paying you immediately and taking on the responsibility for collections. However, the cost of invoice factoring is in line with what you would pay to a credit card company for processing a credit card payment for one of your customers.
If you’ve thought about invoice factoring before but thought the cost was too high, we urge you to take another look. Invoice factoring today is as affordable now as it has ever been.
Avoiding Bad Debt
Invoice factoring can also provide you with protection from bad debt. TXP Capital provides analysis on prospective businesses. By doing a quick check, you can avoid working with companies that are suffering financial stress, so you’re not putting your cash flow at risk.
How Do I Get Started with Oilfield Factoring?
Whether you’re an independent operator, contractor, small business, or a large corporation in the oil and gas industry, oilfield factoring can get you paid quickly.
With TXP Capital, you can get qualified quickly, too. Since qualifications are based on the creditworthiness of your customers, you don’t have to worry about your current credit situation.
Oilfield invoice factoring with TXP Capital takes just four easy steps.
- Complete a job for your customer
- Sell your invoice to TXP Capital for a small percentage of the invoice amount
- TXP Capital pays you cash immediately
- TXP Capital worries about collecting payments from your customers
Want to get paid now for your jobs? Get an instant quote from TXP Capital and find out more about how oilfield factoring can put cash in your hands more quickly.
