Oil & Gas Factoring
Increase Working Capital By Getting Paid the Same Day
Let us pay your invoices faster, ensuring steady cash flow to cover expenses and helping you expand your business without delays.
Oil & Gas Section 1 (Enhancing cash flow for trucking...)
Enhancing cash flow for trucking, drilling, pipeline, and other critical services that drive the oil and gas industry
Take advantage of our customized solutions
Same-Day
Funding
Competitive
Rates
No
Hidden Fees
Dedicated Account
Representatives
Invoicing and
Collections
Online
Account Access
Easy Submission
Process
Oil & Gas Section 2 (Strong cash flow is key...)
Strong cash flow is key to keeping your business running smoothly in the oil and gas industry. Instead of waiting 30 to 90 days for your customer payments, you can sell your open invoices to Single Point
Flexible Funding Options
Tailored specifically for your business, allowing you to access capital when you need it without long wait times or restrictive terms.
Simple Invoice Processing
Easily submit your invoices via the Single Point App and get paid quickly without the hassle of lengthy approvals.
Competitive Cash Advances
Keep your business running smoothly with fast, reliable funding at industry-leading rates.
Excellent Customer Service
With personalized support that ensures your needs are met quickly and efficiently.
Oil & Gas Companies We Serve
Oil and gas companies across all sectors can benefit from our services. Whether you provide upstream, midstream, or downstream services, or if you are a fully integrated oil and gas provider, we have financing solutions tailored to support your operations and cash flow needs.
- Upstream Oil & Gas Exploration
- Oilfield Equipment Manufacturing & Maintenance
- Petroleum Refining & Chemical Processing
- Pipeline Construction & Maintenance
- Oil & Gas Transportation & Logistics
- Heavy Equipment & Machinery for Oilfields
- Energy & Power Generation Equipment
- Oil & Gas Drilling Services
- Petrochemical Production & Supply
- Oilfield Services & Support Companies
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Account Management Portal
Built to Support Your Business
Our Account Management Portal offers transparent, easy access to all your account details in one place. With a user-friendly interface, you can manage your business with ease, track your finances, and stay on top of all transactions—whenever and wherever you need it.
- 24/7 secure access overview of your account
- Access to a variety of reports to help you manage your business
- View all transactions that have been completed 100% transparency for your peace of mind
Frequently Asked Questions
About Oil & Gas Factoring
What is oil and gas factoring, and how does it work?
Oil and gas factoring is a financial solution that helps businesses get paid faster by selling their unpaid invoices to a factoring company. Instead of waiting 30 to 60 days for customer payments, businesses receive same-day or next-day funding for their invoices. The factoring company then collects payment from the customer. This helps maintain steady cash flow and covers operational expenses without taking on debt.
What are the benefits of factoring for oilfield service companies?
Factoring offers several advantages for oilfield service providers, including:
- Fast access to cash - Get paid immediately instead of waiting for customers.
- No new debt - Factoring is not a loan, so there's no repayment obligation.
- Cover operating expenses - Use funds for payroll, fuel, equipment, and expansion.
- Credit protection - Many factoring companies provide credit checks on customers, helping reduce the risk of non-payment.
How much does oil and gas factoring cost?
The cost of factoring depends on the provider, invoice volume, and customer creditworthiness. Generally, factoring fees range from 1% to 5% per invoice, with lower rates for higher invoice amounts or reliable customers. Some factoring companies also offer flat-rate pricing or tiered fee structures based on how quickly the customer pays. It's important to compare rates and terms before choosing a factoring service.
Can oil and gas factoring help with slow-paying customers?
Yes! Factoring is an effective solution for businesses dealing with slow-paying customers. Instead of waiting weeks or months for payment, factoring allows you to convert invoices into immediate cash flow. Some factoring companies also provide credit checks on your customers, helping you work with financially stable clients and reduce the risk of unpaid invoices.
How do I qualify for oil and gas factoring services?
Most oil and gas companies qualify for factoring if they:
- Provide services to creditworthy customers (such as energy companies or oilfield operators).
- Have outstanding invoices for completed work.
- Operate as a registered business (LLC, corporation, etc.).
- Do not have major tax liens or legal issues that affect payment collections.
- Unlike traditional loans, approval for factoring is based more on your customers' creditworthiness rather than your business's credit score.
