Oilfield Service Companies are positioned for rapid growth with Invoice Factoring
Oil and Gas Invoice Factoring

Charter Capital invoice factoring program has been designed to provide Oilfield Factoring lines to Oilfield Service companies working in America’s growing energy sector. These companies choose our Oilfield invoice Factoring services because they require working capital, and are not able to obtain much needed financing from their bank.

By Using Our Oilfield Factoring Services You Can Obtain Immediate Cash To:

  • Add additional employees
  • Settle outstanding debt or tax obligations
  • Negotiate supplier discounts
  • Reduce bank NSF charges
  • Underwrite acquisitions of other service companies
  • To meet critical operating cash needs such as payroll

How Do Invoice Factoring For Oil & Gas Companies Work?

As a way of obtaining the cash flow they require, oilfield service companies turn to invoice funding. Factoring refers to the sale of unpaid invoices by a company to a third party at an inflated price. This is different from a cash advance, which is a loan against future sales.

What are the Benefits of Factoring Receivables For Oil & Gas Companies?

We provide Oilfield Factoring services to Oilfield Service companies nationwide. In the Oil and Gas industry 30 to 90-day pay terms are standard. These extended payment terms create a “Cash Flow Crunch” for Oilfield Service Companies.

The use of invoice factoring allows you to obtain immediate cash to accelerate growth and profits — all without having to take out a loan.

The oilfield factoring process is simple:

  1. You provide your service or product to your customers as you always have.
  2. You continue to bill your customers as you always have.
  3. You submit your invoices that you want to factor to a factoring company like Charter Capital along with our simple factor form.
  4. We wire funds directly to your bank account. Usually, in 24 hours or less.
  5. We wait for your customer to pay us directly.
  6. When we have received payment, we will notify you on the same day.
  7. You continue to grow your business, without the worry of poor cash flow and lack of working capital.
Factoring Account Executive

Our back-office support staff aids you in the collections and mailing out of your invoices. This sometimes offsets the financing fees by decreasing internal overhead related costs.

Personalized Service – You will have a dedicated person and their assistant who handle your account. You don’t have to worry about starting over with a new person each time you call.

Oilfield Factoring Services provided to these Oilfield Service Companies:

  • Roustabouts
  • Wireline Services
  • Environmental Clean Up
  • Well Servicing
  • Drillers
  • Fishing Services
  • Flowback Testing
  • Tank & Pipe Cleaning
  • Pit Clean Up
  • Welding Services
  • Acidizing & Cementing
  • Plugging Contractors
  • Testing Services
  • Slickline Services
  • And More

Oilfield and Gas Factoring can help you get a competitive edge in the highly competitive oil and natural gas services industry.