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.
- You send us a copy of an invoice for work completed.
- We verify the invoice and run a credit check against the client.
- You’re advanced between 85% and 95% of the invoice’s value upfront.
- 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!
Frequently Asked Questions
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.
