Oilfield Factoring for Instant Access to Finance.Posted by Rich Thomasen on April 26th, 2021 Are you struggling to keep above water in the Oilfield Industry due to late payments and no working capital? This is a harsh reality for many Oilfield Service companies around the world as they try to keep good relationships with their clients who are in the same position of minimal cash flow and usually have standard payment terms of 30 to 90 days or even longer. This causes a serious financial domino effect in the Oilfield and Oil and Gas industry where everyone is left stranded and unable to pay their suppliers or purchase new technologies for much-needed growth. One of the best solutions to overcome this is to make use of best practices to acquire specialized finance that will not break your bank any further. Charter Capital offers affordable Invoice factoring services to Oilfield service companies nationwide in multiple sectors, such as Roustabouts, Wireline Services, Environmental Clean-Up, Well Servicing, Drillers, and Fishing Services to name a few. oil and gas financing If Oilfield factoring is a term that you are unaware of, it is a way for your company to sell its unpaid invoices to a third party at a discount, as opposed to a cash advance which is a loan against your future sales. With Charter Capital, you can choose which Invoice or Invoices you require instant payment for, and it will be wired to you within 24 hours after processing. A great way to obtain immediate cash of monies due to you, providing you with the means to continue to outlay money when you need it, ensuring consistent growth.Like it? Share it! |