Oilfield Water Hauling Factoring
The oilfield business, specifically water hauling, has been growing every year. Because water hauling is used in the process of hydraulic fracturing, these water hauler companies are very important.
Rapid industry growth comes with more opportunities for oilfield water hauling companies to take on new projects or new clients. These increasing opportunities are great for business growth, but with rapid growth can come an unsteady or low cash flow.
Not only does rapid growth cause a cash flow shortage for these companies, the equipment used by water haulers is pricey and can be an added business expense.
This means oilfield water hauling companies need a financing solution: invoice factoring.
What is Factoring for Water Haulers?
Factoring for water hauler companies is similar to oilfield factoring. The process is straightforward.
Your water hauling company sells your invoices to a factoring company. Then, the factoring company advances you a percentage of the invoice (up to 95 percent) within 24 hours.
The remaining percentage of the invoice is held in a reserve account. Your customers will pay the invoice to the factoring company. After this happens, the factor will release the reserve back to you, minus a small factoring fee.
Start Factoring with your Free Quote
Why do Companies in the Oilfield Industry Factor?
There are many benefits to factoring if you own a water hauling company. Some of them include:
Fast Approval and Fast Funding
Unlimited Funding Potential
No Debt to Repay (Unlike a Bank Loan)
What do Companies use Money from Accounts Receivable Financing For?
- Hire new employees
- Pay current employees
- Purchase new equipment
- Other business expenses
With invoice factoring, your water hauling company has the ability to successfully grow in the oilfield industry. Don’t limit your potential due to insufficient funds.
What does Factor Finders do for Your Company?
Factor Finders helps you find the best factoring company based on your location, needs and size. We have countless partnerships with a large variety of factors who specialize in different financing solutions. We can get you the cash you need quickly.