Receivables factoring in Houston
Houston is known as the energy capital of the world and is home to over 20 Fortune 500 firms and more than 5,000 energy companies. Houston dominates the country in oil and gas exploration and production; no other U.S. city comes close. The city is a leading international center for every segment of the oil and gas industry, including exploration, production and transmission.
Oilfield factoring services are common in Texas, especially in Houston, Dallas / Fort Worth, and Midland / Odessa. With so much oil and gas activity, it’s no surprise that factoring companies are filling the need for cash flow funding.
Factoring companies in Houston provide factoring services for B2B industries like construction, business services and trucking. Invoice financing improves your cash flow because you don’t have to wait 30, 45 or 60+ days to collect your receivables. You get the cash upfront so you can pay your suppliers, payroll and other operating expenses. Your customers pay the factoring company when the receivables become due.
Invoice factoring is an ideal solution for businesses that don’t qualify for traditional financing. Factoring companies focus on your customers’ credit, not your’s. You can also take advantage of the accounts receivable collections and credit services. Texas factoring companies can approve your factoring application, often within a week. You can get your initial funding as quickly as 5 to 10 business days, making invoice factoring a quick and easy process.