Oilfield Service Companies are positioned for rapid growth with 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 Factoring services because they require working capital, and are not able to obtain much needed financing from their bank.
With Invoice Factoring from Charter Capital you can obtain 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
Why do Oilfield Service Companies benefit by financing accounts receivable with Charter Capital?
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 process is simple:
- You provide your service or product to your customers as you always have.
- You continue to bill your customers as you always have.
- You submit your invoices that you want to factor to Charter Capital along with our simple factor form.
- We wire funds directly to your bank account. Usually, in 24 hours or less.
- We wait for your customer to pay us directly.
- When we have receive payment, we will notify you on the same day.
- You continue to grow your business, without the worry of poor cash flow.
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.
Charter Capital provides Oilfield Factoring Services to the following Oilfield Service Companies:
- Wireline Services
- Environmental Clean Up
- Well Servicing
- Fishing Services
- Flowback Testing
- Tank & Pipe Cleaning
- Pit Clean Up
- Welding Services
- Acidizing & Cementing
- Plugging Contractors
- Testing Services
- Slickline Services
- And More
Accounts Receivable Factoring help you gain a powerful edge in the highly competitive oil and gas services industry.