Factoring for Oilfield and Gas Companies

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

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Navigating the Challenges of the Oil and Gas Sector with Ease

The oil and gas sector, with its vast operations and global dynamics, presents a myriad of challenges. The nature of the industry often means dealing with escalating expenses, whether it’s acquiring the latest technology, maintaining equipment, or recruiting skilled manpower. Coupled with this, there’s the unpredictability of payments. Many times, businesses like yours might find themselves in situations where clients delay payments, creating bottlenecks in your cash flow and potentially stalling day-to-day operations.

That’s where Porter Capital steps in as a beacon of support. Recognizing the unique hurdles of your industry, we’ve streamlined a process allowing you to turn those pending invoices into immediate cash. Imagine not having to wait for weeks or even months, but having up to 95% of your invoice value available in just 24 hours. This rapid turnaround ensures your operations remain uninterrupted, letting you focus on what you do best.

Moreover, we believe that every business deserves a chance to thrive, regardless of past financial challenges. Hence, we’ve designed our services so that you don’t need a spotless credit score. And the cumbersome paperwork often associated with financial processes? We’ve cut it down to ensure a swift and hassle-free experience for you.

Understanding Oil and Gas Factoring

The oil and gas realm is more than just drilling and extraction. It’s a multifaceted industry, laden with its own set of intricate challenges. From ensuring your workforce is compensated on time, upgrading to the most cutting-edge equipment to stay ahead of the competition, to perhaps the most crucial aspect, investing in research and development to discover sustainable and efficient methods, the demands are continual and diverse. But while your operations may require consistent cash flow, client payments in this sector are frequently anything but consistent. Often, the wait for payments can extend, straining your reserves and making financial planning a daunting task.

Enter the solution: Factoring. Think of it as a financial lever, designed to give you immediate access to the capital tied up in unpaid invoices. This isn’t about adding debt or taking out a loan. Instead, it’s a strategic move to accelerate what’s already owed to you. By leveraging factoring, you essentially unlock the potential of your unpaid invoices, turning them into ready cash to be funneled back into your business.

And the beauty of partnering with a dedicated factoring company like ours? Our services are inherently scalable. As your operations expand, as you take on bigger projects or find yourself handling more significant invoices, our factoring solutions grow in tandem with your needs. So, whether you’re entering a growth phase, investing in new technology, or just managing day-to-day expenses, our commitment ensures that your cash flow remains robust and responsive to your business’s demands.

Unpacking the Efficient Factoring Process at Porter Capital

At Porter Capital, we understand that time is of the essence, especially in an industry as dynamic as oil and gas. We’ve meticulously designed our factoring process to be swift, straightforward, and potent, ensuring that you get the financial boost you need without any unnecessary delays or complexities.

  1. Personalized Guidance from Start to Finish: Once you’re approved for our factoring services, we don’t just leave you to navigate the waters on your own. We assign a dedicated representative to you – a single point of contact. This individual will be your go-to person, always available to answer questions, assist, and guide you through every step. With this approach, there’s no need to explain your situation to a different person each time you call; your representative understands your business and is committed to ensuring a seamless experience.
  2. Submitting Your Invoice: The process begins when you provide us with a copy of an invoice for services you’ve already delivered. We value the hard work you’ve put into your business and aim to make this step as effortless as possible.
  3. Comprehensive Verification for Trust and Transparency: Once we receive your invoice, we initiate a thorough verification process. This isn’t just a cursory glance; we ensure that the invoice details are accurate and run a credit check on your client. This step is crucial for two reasons: to safeguard the interests of all parties involved and to assess the creditworthiness of the client, ensuring the payment likelihood.
  4. Prompt Cash Advance to Fuel Your Operations: Without keeping you waiting, we then advance between 85% and 95% of the invoice value directly to you. This immediate infusion of funds ensures that you have the capital needed for operations, expansions, or any other business-related expenses, giving you peace of mind and the ability to plan and execute effectively.
  5. Seamless Collection and Final Settlement: You’ve already done your part by delivering services to your client. Now, leave the payment collection to us. We’ll handle the process of collecting from your customer. Once the payment is secured, we’ll send you the remaining balance of the invoice. The only deduction is a modest factoring fee, transparently discussed with you at the outset.

In essence, our streamlined factoring process at Porter Capital is designed with your business’s efficiency and growth in mind. We handle the financial intricacies, allowing you to focus on what you do best: driving your oil and gas business to new heights.

Utilize our invoice factoring calculator to determine the estimated cash advance, the final amount receivable upon invoice payment, and the associated factoring fee.

Factored Invoice Amount ($)
Factoring Rate (%)
Advance Rate (%)

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Understanding Qualification for Oil and Gas Factoring with Porter Capital

At Porter Capital, we’ve built our services around understanding and accommodating the unique challenges businesses face. Our approach to oil and gas factoring qualification is rooted in simplicity and accessibility for all.

  • Business Age & Credit History – Not a Barrier: Unlike many traditional financial institutions that focus heavily on how long a business has been running or its credit history, our evaluation criteria are more comprehensive. Whether you’ve recently ventured into the oil and gas sector or encountered financial bumps in the past, we believe in focusing on the present and future potential of your business.
  • Customer Creditworthiness – Key to Approval: The crux of our qualification process is centered around the creditworthiness of your customers. Since they are the ones responsible for settling the invoices, their reliability plays a pivotal role. If your customers have a history of paying their bills, you’re well-positioned for factoring approval. This shift in focus empowers many businesses that might otherwise struggle to access vital funding.
  • Personalized Financial Consultation: Our approach is built on partnership. We invite you to reach out and discuss your specific needs and circumstances. By understanding your financial landscape, we can craft tailored solutions that align with your business goals. Our team is always available for a candid conversation, ensuring you have clarity at every step.
  • Swift and Transparent Approval Process: We value your time. That’s why our application process is designed to be efficient. Typically, after receiving all necessary details, we can evaluate, process, and provide an approval decision in just three business days. We pride ourselves on transparency, ensuring you’re well-informed about the process without hidden fees or charges.
  • Rapid Fund Disbursement: Once approved, we waste no time in providing the funds you need. For submitted and verified invoices, you can expect funds in your account within 24 hours. This swift turnaround ensures you have the capital you need when you need it, allowing for uninterrupted business operations and growth.

In a nutshell, Porter Capital’s qualification process for oil and gas factoring is tailored to support businesses in their growth journey. With an emphasis on customer creditworthiness and a commitment to speedy processing, we’re here to empower your business with the financial stability it needs to thrive.

Empowering the Oil and Gas Sector with Swift Funding

At Porter Capital, we collaborate with oil and gas enterprises throughout North America, ensuring they receive their due income promptly. Our reputation stands on offering some of the most competitive factoring fees in the industry coupled with unmatched advance rates. Let’s talk today about how we can fortify your financial journey.

Why Choose Porter Capital?

  • Immediate Funding Access: Get the finances you need, when you need them.
  • Competitive Pricing: Enjoy industry-leading rates tailored for your benefit.
  • Adaptable Solutions: Financial plans customized to fit your unique requirements.
  • Exceptional Customer Support: Our team is dedicated to your success, always ready to assist.
  • Unrestricted Funding Volumes: No caps on the amount we factor, giving you true financial freedom.
  • Streamlined Process: Minimal paperwork, maximum efficiency.
  • Established B2B Factoring Expertise: Leverage our vast experience for your growth.

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