Factoring for Oilfield and Gas Companies

Meet cash flow demands and grow your oil and gas company with factoring.

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Your Trusted Oilfield and Gas Factoring Partner

At Porter Capital, our oil and gas financing services provide a sustained cash flow boost to fund growth and help your business operate effectively. You don’t have to have a perfect credit record or go through a lengthy application process. If you issue invoices to business customers, we can send you a cash advance in as little as 24 hours.

We offer low factoring fees that start at just 0.75% and provide advances worth up to $10 million per month. If you’re frustrated by slow payments from customers, have a slow cash flow cycle, or want a fast funding option that you can use as needed, this could be the perfect solution for you.

What is Oil and Gas Factoring?

The oil and gas industry is notoriously difficult to operate in. There are constant cash flow demands, whether to pay employees, cover research and development costs, or purchase equipment. Lengthy payment terms are the norm, meaning there are periods when there’s a lot of money flowing out but very little coming in. That can make it challenging to maintain healthy cash flow levels.

However, you don’t have to worry about whether you have sufficient funds to make payments or operate at full capacity. Factoring services for the oil and gas industry allow you to unlock the cash tied up in outstanding invoices. By turning your receivables into cash, you will have the working capital needed to go after lucrative projects and keep your business growing.

Most importantly, factoring is not a loan. Instead, it is an effective way of getting faster payment for your business. The level of funding you can access also grows in line with your invoice values, making this a scalable funding option for businesses of every size.

How Does Oil and Gas Factoring Work?

The factoring process at Porter Capital is fast, simple, and effective. Once you are approved, we will assign you to a single point of contact who will guide you through the process.

  1. You send us a copy of an invoice for work completed.
  2. We verify the invoice and run a credit check against the client.
  3. You’re advanced between 85% and 95% of the invoice’s value upfront.
  4. We collect payment from your customer when it is due and send you the remaining balance of the invoice minus the factoring fee.

Qualifying for Oil and Gas Factoring

Qualifying for oil and gas factoring at Porter Capital is simple, even if your business is relatively new or does not have the best credit. It’s your customers who are liable for the invoice’s payment, so as long as your customers are creditworthy, you stand a good chance of approval.

Just give us a call, and we can take a look at your financial situation to discuss how we can help. We can process and approve your initial application in just three business days, and there are no upfront costs. In only 24 hours, we will release funds for the invoices you send us.

Why Choose Porter Capital for Oil and Gas Factoring?

We work with oil and gas companies all across North America, granting them access to their income sooner rather than later. We pride ourselves on our highly competitive factoring fees and offer some of the industry’s best advance rates. Get in touch today to discuss your funding options.

  • Fast Access to Funding
  • Competitive Rates
  • Flexible Solutions
  • Outstanding Customer Service
  • No Concentration Limits
  • Minimum Documentation Required
  • Trusted and Experienced B2B Factoring Company

Contact Porter Capital for Oil and Gas Factoring

Get paid faster for your oilfield operations with Porter Capital. We have extensive experience with small and medium-sized oil and gas companies across North America and can provide the best factoring rates. With advance rates of up to 95% on invoices within 24 hours after submission, you can access your income quickly to fund immediate expenses and expand your business.

Our oil and gas factoring services are easy to implement with short-term contracts and an easy approval process, allowing you to factor as many or as few invoices as you need. All your company needs to apply is a current customer list, Articles of Incorporation and copies of invoices you would like to factor.

Choosing Porter Capital for factoring for your oil and gas company also provides access to our dedicated field representatives and back-office support. Start taking on larger contracts with the peace of mind that you have a steady cash flow.

If you’re ready to gain access to a reliable funding source to support and expand your business, please complete our contact form today!

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Frequently Asked Questions

Our oil and gas invoice factoring solution is simple. Once you issue an invoice to a customer, assign the invoice to us. We will advance you between 85% and 95% of the total invoice value in as little as 24 hours. So you don’t need to wait 30, 60, or even 90 days to receive the payment. We will then collect your customer’s payment when it’s due. Then, we pay you the remaining balance, minus our small factoring fee.

With market prices that fluctuate rapidly and lengthy payment terms standard in the industry, many oil and gas companies struggle to maintain the cash flow they need to cover operational costs. This is where an oil and gas factoring company can help:

Fast Access to Funds

Once the agreement is in place, send us a copy of the invoices you want to raise funding against, and we can have the money in your bank account within 24 hours.

Competitive Rates

At Porter Capital, we offer some of the industry’s best advance rates, with upfront payments of 85% to 95% and competitive fees that start at just 0.75%.

No Physical Assets Are at Risk

Unlike other lenders, we do not require collateral in physical assets such as vehicles or machinery. The only collateral we need is the invoice itself.

Businesses That Do Not Qualify for Traditional Funding Can Apply

We routinely work with businesses that do not qualify for a bank loan because they have little or no collateral or have adverse events on their credit record. If you have creditworthy customers, have been in business for two or more years, and invoice for a minimum of $25,000 a month, you have a high chance of approval.

We Consider All Oil and Gas Companies

We provide financing for oil and gas companies involved in exploration and production (E&P), extraction, refining, transportation, security, and construction.

Factoring Solutions for Every Situation

We offer a diverse range of factoring products, so you’re sure to find a solution that meets your particular needs. Products include:

  • Recourse factoring: We extend funds for a set period, and you buy back any invoices we are unable to collect.
  • Non-recourse factoring: We are responsible for collecting payment from the customer no matter how long it takes. You are not liable for clients who do not pay.
  • Spot factoring: You can pick and choose the invoices you want to raise funding against depending on your circumstances at the time.
  • Whole-ledger factoring: We take over the business’s entire portfolio of invoices to provide a steady income stream.

Easy Approval With No Long-Term Contracts

The application process is quick, and our approval rates are high. There’s also no requirement to sign up for a long-term contract, so you can use oil and gas factoring for as long as it suits you.

No Monthly Repayments

Unlike a bank loan, there are no monthly repayments associated with oil and gas factoring. That reduces your reliance on debt and allows you to keep more of your cash in the business.

  • Some clients will take 30, 60, even 90 days before they can secure payment—this is a pretty long time to remain stagnant, and it could negatively impact your business’s growth. However, when you implement invoice factoring, you can receive payment immediately once a factoring company has approved it. Usually, you’ll get the money within 24 hours, allowing you to advance up to 25 million dollars.
  • Getting loans from banks can be disheartening to many businesses, especially when a plethora of paperwork is involved. But thankfully, factoring companies have an accessible account set up, allowing you to receive funds within a few days. Of course, you’ll want to work with a factoring company that specializes in your industry for a simpler process.
  • Another great thing about invoice factoring is that you won’t be dealing with debt. This is because the factoring company will buy your invoices and give you the funds you need to run your business. This way, if your business has a low credit score, you can still qualify for financing, allowing you to receive the capital you need to operate.
  • A lot goes into running an oil and gas company, but fortunately, you can reduce time and labor, thanks to invoice factoring companies’ back-office services. This way, you won’t only boost your cash flow, but you’ll also gather necessary data, such as payment progress, customer collections, credit analysis, and more.

Become a Referral Partner

Porter Capital helps small and medium sized businesses in North America by offering working capital solutions, including invoice factoring and accounts receivable financing.

Joining our referral program brings benefits to your own company as well, with a 15% commission after a referred business receives funding. Refer a business today to help provide a company with our funding solutions.

Become a Referral Partner