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Oilfield Service Receivable Factoring

Why Choose Us? Accounts Receivable Financing is our Business
  • Financing Rates at 0.69% - 1.59%
  • No Financials - No monthly minimums - No invoice minimums
  • No facility fees - No audits - No up-front fees - No hidden fees
  • Set up account in 3 to 5 working days - 24 hr funding thereafter
  • Credit Lines starting at £5,000 & up to 10 million
  • Optional Libor & Admin fee
  • Customer referrals upon your request
  • We Make Same Day Decisions
Over 15 years in business
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In Canada, the oilfield service industry is huge. In the northern parts of the country, there are oil fields scattered throughout the land that offer well-paying employment and the chance at financial success. The oilfield service industry supports the oil and gas exploration companies with services such as trucking, well maintenance and technology services. If your company works in the Canadian oilfield service industry, then you know how lucrative this industry can be. You also know how unpredictable it can be to work with the largest oil and gas exploration companies in the world. If you want to keep those high profile clients happy, then cash flow is the key.

1st Commercial Credit has been factoring oilfield services companies' invoices for a very long time and we pride ourselves on being experts in the oilfield service industry. If there is one thing we have learned over the years, it is that we cannot help our customers until we get to truly understand the industries they work in. We have spent years studying and analyzing the oilfield services industry in Canada and we have also spent a long time developing practical experience as well. We have helped companies to realize the full potential of their accounts receivable and put all of their ongoing revenue to work for them immediately.

Oilfield Services Companies Are Hard-Working Organizations That Need A Strong Receivables Funding Partner

For an oilfield services company, the workday never really ends. An oilfield service employee works long hours and has a team of other employees who are also putting in long hours each and every day. The work is hard, but it can lead to huge profits. To get those profits, the oilfield companies have to be able to insure a steady cash flow. The problem is that oil exploration companies sometimes tend to pay their invoices late and that leaves a financial gap that the oilfield services companies must fill. These hard-working organizations do not have time to stop and figure out their finances. They need fluid solutions that will keep their cash position strong.

As the accounts receivables grow for an oilfield service company, so can the financial headaches. The workers in the field need to replenish their supplies on a regular basis, and it takes cash to do that. 1st Commercial Credit has seen more than a few oilfield service invoices in our day and we have accounts receivables funding programs that will turn those invoices into instant cash. We can get you cash on or before the invoice due dates, and we can also get you cash within 24 hours for the past due invoices that are clogging up your cash flow. 1st Commercial Credit understands your business and that is why we are the ideal accounts receivables funding partner for the oil industry.

The International Experience Of 1st Commercial Credit Works To Your Advantage

The oilfield services industry in Canada is strong and getting stronger, but the proactive Canadian businesses look to the international markets to grow and expand. 1st Commercial Credit understands how important it is for a small to medium sized oilfield services company to take advantage of its opportunities at home and abroad. In some instances, the Canadian services organizations wind up providing services to grateful customers all over the world because of the work that was done in Canada. When you do good work for an international corporation in your own backyard, then you are often given a chance to perform that good work around the globe.

1st Commercial Credit has extensive experience servicing the oil industry all over the world. We have a strong network of financial affiliates that helps us to conduct business in up to 17 different kinds of currencies. When your company is ready to start adding services for clients overseas, then we will be there to fund those operations for you. We will turn all of your invoices into cash and allow you to fund your move to locations all around the world. Global expansion can be an exciting time, and we can help make it a reality by turning your outstanding invoices into cash and allowing you to have your own solid financial foundation.

Bank Borrowing Is Unnecessary And Inefficient

One of the best features about 1st Commercial Credit is that we are not a bank. We do not deal in expensive bank funding and we will not add anything to your company's bottom line. When the time comes to meet payroll or pay for those ongoing oilfield service expenses, you may think that cash flow slowed by past due invoices pushes you towards bank borrowing. But the mere fact that you have past due invoices slowing up your cash position means that your company has the financial resources it needs to attend to its own economic condition without the help of a bank or any other corporate finance company that would add debt to your bottom line.

Your aging report shows invoices that are 30, 60 and even 90 days past due. Instead of looking at those invoices as obstacles to financial success, you need to consider them assets to your company. 1st Commercial Credit will take your past due invoices and turn them into cash within 24 hours. All you would need to do is apply for an account online and we will have your account set up in five business days or less. With an account in place, we can start advancing you funds against the face values of your invoices immediately. The approval process takes only minutes and the funds transfer can happen with 24 hours of approval. 1st Commercial Credit is not just an alternative to bank financing, we are the solution to the problems that banks can cause.

Speed And Efficiency Are Critical For A Canadian Oilfield Services Company

When you work in the oilfield services industry, you know that every minute counts. If there is a lapse in service for just a minute, then it could mean the difference between profitability or an injury to your personnel. Whether you are servicing oil wells or updating the software on an oil rig computer system, everything you do matters and it needs to be done efficiently. 1st Commercial Credit understands that kind of efficiency because we run our business the exact same way. We know that your field personnel need to have a reliable structure in place if they are going to be able to perform their jobs safely. In the world of business, a reliable structure always requires a foundation of cash.

1st Commercial Credit makes invoice factoring seamless to the rest of your organization. When you borrow from a bank, you have to stop and fill out an application each and every time. It can take weeks to hear bank from the bank and, by then, your financial needs have hit a critical status. 1st Commercial Credit only asks you to fill out one application and we will not waste your time with any other administrative processes. We will put an accounts receivables funding system in place that is automatic and will create the kind of cash flow that your company needs to keep your field personnel safe and your business running smoothly.

When You Need Cash Flow For Your Oilfield Services Company, Think Of 1st Commercial Credit

1st Commercial Credit has built a successful corporate history out of taking care of our customers first. In the oilfield services industry, you do not have time for games when it comes to finding financial partners. That is why we do not have any kinds of surprises for you that could cause problems down the road. When you start an account with us, there are no set-up or facilities fees. We do not charge monthly fees for our services and we also do not have minimums based on invoice amounts or the amount of business per month. If you need us to factor an invoice to supply you with cash, then we will be there for one invoice, and we will be there for 100 invoices.

When you do business with a bank, those hidden fees you get in your statements can be annoying. 1st Commercial Credit does not charge you any hidden fees. When we outline our services to you, we disclose all of our fees up front for everything that we do. Each transaction has a small fee to it that we also disclose up front as well. We have nothing to hide because we know that you do not have time for games. When we take care of your oilfield services invoices, we do everything exactly as we promise and we do it on a consistent basis. We pride ourselves on the efficiency of our service and we know that you will appreciate the way that we do business as well.

1st Commercial Credit Has A Solid Reputation As A Reliable Financial Partner

In the oilfield services industry, you either deliver what you promise or you are out of business. Oil and gas exploration companies do not have time to wait around while you figure out what you are supposed to do to keep their businesses profitable. When you choose financial partners to help you run your business, you also want a company that is going to deliver on its promises and help you to make your business profitable. 1st Commercial Credit has been in business for a long time and has a long list of satisfied oilfield services customers. We know every aspect of the oil and gas industry, and we stake our reputation on the work that we have done in the past. We deliver your cash flow results when you need them and we deliver them in line with the invoiced sales your company has generated.

We invite you to check us out online and see what others are saying about us. If you cannot find any information about our past clients, then we can provide you with referrals so that you can hear for yourself how satisfied our clients are. 1st Commercial Credit is extremely serious about the business that we do and the clients that we work with. We insist that you check us out before you give us a call because that is the only way that you will feel comfortable about doing business with us. We have worked hard with Canadian clients for years and we know that we can do the job for you as well.

Oilfield Services Companies Have Problems That Are Familiar To Most Businesses

There is no denying the fact that the work an oilfield services company does is unique and different, but the financial challenges that the company faces are pretty common. The biggest challenge is maintaining vital cash flow when the past due invoices continue to pile up. If that sounds like a familiar problem for your oilfield services company, then take heart because it is a problem that many small to medium sized businesses face on a regular basis. 1st Commercial Credit has a variety of clients in a variety of industries who are all experiencing these very same challenges and we have flexible programs that we can use to free up that cash flow and ease your financial problems.

Sometimes an oilfield services company gains a strong reputation in the industry and starts to experience rapid growth through referrals. Clients hear about the great job a company is doing and those oil exploration companies want that same level of service on their job sites. It happens all of the time and it is commonly referred to as the best problem a company could ever experience. But it does not need to be a problem if you have an invoice factoring arrangement through 1st Commercial Credit in place. As your revenue starts to climb, we will make sure that your cash flow keeps pace with that income. That allows you the chance to take full advantage of the success you have earned.

1st Commercial Credit Can Even Help When The Banks Say No

It is an exciting time for an entrepreneur when he opens the doors of his new oilfield service company and starts taking on clients. But when that start-up funding runs out, the entrepreneur starts to hope that the cash flow will pick up with customers paying on their invoices. But more often than not, a start-up owner is disappointed in the manner in which the past due invoices infiltrate his aging report and threaten his company. The bank won't help because the start-up does not have a credit history, but 1st Commercial Credit can definitely help. We have helped oilfield service start-ups in Canada reach the point of profitability for years. We know your challenges and we can turn those past due invoices into the cash that you need right away.

When an oil well maintenance company gets behind on its bills, it takes quite a hit on its company credit profile. When things get really bad, the company owner heads over to the bank to try and get financing to sustain operations. But when the bank sees the bad credit score, it may decide that the oil well maintenance company is not a good risk. 1st Commercial Credit never asks to see your company's credit profile because we don't need it to fund your business. Your clients are all oil exploration corporations that have strong credit ratings and we use those credit ratings to maintain your business line of credit and create the cash flow you need to run your business. Once again, 1st Commercial Credit steps in with answers when the bank just says no.

1st Commercial Credit Can Help As Long As Your Invoiced Sales Don't Run Out

With 1st Commercial Credit, we believe that each of our clients just need that one push to find success. Your receivables are healthy but your aging report is slow. The bottleneck is occurring with your past due invoices, so we just come in and remove the bottleneck. With our years of experience and vast financial resources, it really is that easy to get your oilfield services company the funding it needs on a regular basis. But the reality is that we are only able to help you if you continue to help yourself. If your company is aggressive and booking new sales on a regular basis, then 1st Commercial Credit can make sure that you always have the cash you need.

We also have clients that do more than their fair share to keep their business profitable. We can handle any volume of business that you have, but we really enjoy it when our customers work so hard that they push us to work harder as well. The truth is that if your invoiced sales ever run out, then your company is not going to be around much longer anyways. But as long as you are generating invoiced sales, you may as well have a system in place that allows you to take full advantage of the revenue that you are generating. 1st Commercial Credit gives you all of the tools you need to maximize your cash flow and push your business to the next level.

Invoice Factoring Works For Every Type Of Oilfield Services Company

The oilfield services industry encompasses many different kinds of companies. Within the oil exploration industry you will find seismic imaging companies, deep water oil exploration services, oil well maintenance companies, oilfield trucking companies, offshore rig construction, land rig construction, offshore rig maintenance, saltwater disposal and transportation companies and contract rigs that are used in actual drilling as well as exploration. Each of these different kinds of companies has significant financial needs that can be satisfied with cash flow services from 1st Commercial Credit.

When you talk about the significant oilfield services companies, you need to discuss the various kinds of transport organizations that oil and gas companies could not function without. From pipeline construction and maintenance companies to the organizations that operate the big oil freighters that move the oil from the offshore rig to the refining facility on shore, each one of these companies has sensitive financial requirements that should only be taken care of by a professional financial services organization such as 1st Commercial Credit. We know these industries and we know how they do business. That is why the oilfield services companies in Canada come to 1st Commercial Credit for their cash flow needs.

Maintain A Safe And Profitable Canadian Oilfield Services Business With Invoice Factoring

If there is one thing a Canadian oilfield services company cannot do, it is cut corners on the services that it offers. Many of the people in the gas and oil exploration business put themselves in harm's way to get their jobs done. In order to make sure that everyone makes it home safely, the services organizations need to be operating at full capacity. That means that there always needs to be reliable cash flow available to meet payroll, pay vendors and take care of those financial emergencies that come up each and every day. 1st Commercial Credit understands the critical nature of the oilfield services business and that is why we work so hard to provide quality financial services to all of our customers.

If your cash flow problems are causing you to consider cutting corners on services or utilizing bank borrowing to make ends meet, then stop what you are doing and fill out the application on our website today. In your line of work, you cannot afford to consider second-rate solutions for important problems. 1st Commercial Credit will supply you with the cash flow you need to be able to attend to your business and make sure that your employees are safe and your corporate customers are always happy.

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Receivable Financing Rates

Starting At 0.69% - 1.59% Or Prime +2% & Admin Fee

  • Quick Approval Process!
  • No Financials up to $350k
  • Easy Set-Up in 3 to 5 Days
  • Over 15 years in business
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1st Commercial Credit Provides Asset Based Lending, Purchase Order Financing and Factoring to Canada: