Texas Factoring Companies

Oil and gas, technology, and defense are just a few of the industries that keep small businesses depending on accounts receivable factoring for healthy cash flow and smooth operations. One of the most difficult parts of running a business is securing funding. Invoice factoring is similar to a bank line of credit but much easier to qualify. You also get the many benefits of receivables factoring that banks don’t offer.

Invoice financing helps businesses avoid accounts receivable collections because you don’t have to wait weeks or months for payments from your customers. A Texas factoring company pays you immediately for newly generated invoices to your customers. You get cash upfront, so you can pay the operating costs that you incurred to generate the revenue. Waiting to collect your invoices is what your factoring company does, so you don’t have to.

Many factoring companies can approve your factoring application within several business days. Often, you can get your first funding within 5 to 10 days, making invoice factoring a quick and easy process. This quick source of capital is extremely attractive to many of the oilfield service businesses that perform services for large contractors. Often, these smaller companies win a large contract and need to ramp up quickly or get left behind. The same goes for many of the telecommunications companies that serve big technology companies.