Are you an oilfield goods or services contractor looking for faster payment on your accounts receivables? A specialist-factoring company, who understands the issues of your specific industry, can help to find an answer.
There is a buzz about factoring companies who specialize in certain industries. Invoice financing companies who offer industry solutions do so because they understand the process and have experience in specialist fields.
If you supply products or services to the oil and gas industry you will already know some of the issues you face when it comes to invoice collection. Similar to the government space, oil and gas customers are generally extremely reliable about payment, and have excellent commercial credit, but often require that their suppliers extend their invoice payment terms to 30 days at the minimum, but up to 60 or even 90 days.