Companies choose oilfield factoring for a variety of reasons, but there is one thing they all have in common – they need working capital and they need it quickly. No matter what financial situation or stage of growth your business is in, factoring can be a dependable, reliable way to ensure your business has the funds it needs to run efficiently. The advantages of oilfield factoring are numerous.
The availability of a consistent, manageable cash flow is essential to operating a successful company. Without a consistent cash flow, many companies struggle to met the daily financial needs of running a business. Oilfield factoring is an effective financing solution for solving the problem of a slow or inconsistent cash flow.
The employees of a company are its lifeblood. To keep a happy workforce means paying them in a timely and efficient manner so they can continue to put out quality work. Factoring ensures that businesses always have enough money to pay their most important investment: their employees.
The fact of the matter is companies in expansion and growth stages need working capital. Whether it is hiring more employees or purchasing new equipment, factoring provides businesses the money they need to build and develop.
From vital professional subscriptions to just keeping the lights on, factoring ensures that a bill payment is never late because a customer took to long to pay on their end. For many businesses this takes the stress and guesswork out of the beginning and middle of the month when most bills are due.
For many industries, having up-to-date equipment is essential to run effectively. Sometimes that means purchasing state of the art equipment that will work better and more efficiently than the current stock. Other times that means repairing or replacing current equipment that is broken or too old to function optimally. TCI Business Capital can ensure that your company can make the purchases it needs, when it needs to make them.
New customers are vital to every business. Oilfield factoring provides the cash companies need to serve new customers and build strong, lasting relationships.
In the oil industry, extended payment cycles are a challenge. It’s hard enough managing cash flow without having to work around customers with 30, 60, or even 90 days to payment terms. Factoring offers instant access to cash, allowing you to get paid for the hard work you do within 24 hours.