One of the most difficult parts of running a business is securing funding. Sustaining cash flow can be difficult for small businesses. You have to wait weeks or months for payments to arrive from billed invoices. Businesses can overcome collection days outstanding with invoice factoring. Invoice factoring eliminates waiting 30 to 90 days for your accounts receivable collections.
Texas industries that regularly use factoring services include
- Construction contractors
- Oilfield service companies
- Trucking and freight
- Government contractors
- Staffing companies
- Healthcare providers
Texas boasts the best supply of oil and gas in the country with both the Eagle Ford Shale and Permian Basin regions. Oilfield service companies provide the infrastructure, equipment, and services needed by the Texas oil and gas industry. Oilfield businesses need sufficient cash flow to take advantage of growth opportunities. Many Texas factoring companies offer accounts receivable factoring services for oilfield businesses.