Viva Capital has a long history with Oilfield Services and is geographically located near many key cities within the Permian Basin. With our background in banking, we understand the challenges of getting bank financing and the benefits of factoring. We know you need working capital fast, whether for equipment, fuel, or just to get your employees paid. Viva Capital can evaluate your company needs and provide you with a solution to grow without leverage. We are uniquely set-up to efficiently manage your back-office and collection needs so that you are focused on growing your company.
What are the Benefits of Oilfield Factoring?
One of the main benefits of oilfield factoring is that businesses that don’t qualify for traditional bank loans can quickly get approved for factoring since factoring companies are only interested in the credit history of your customers and not your business.
Generally speaking, Oilfield companies have to wait 30 days or longer for their customers to pay them. Factoring addresses this ‘waiting problem’ by supplying immediate cash to the client. Rather than wait for the payment to show up or worry about cash flow, business owners can focus on the integral parts of the business.
What We Offer
We factor a wide range of Oilfield Services Companies. Included but not limited to companies that provide infrastructure construction, rig/site preparation, disposal, sand, water haulers and pipeline services:
- Same-day funding from copies: Turn invoices into cash immediately!
- High advance Rate: Advance up to 98%!
- Ability to quickly expand factoring lines as your company’s needs grow
- Debtor credit checks and collection services
- Customer Account Portal for simple 24/7 account access/monitoring
- The Viva Capital Team will work with you to manage seasonality (ups and downs)
We are here to factor your company so that you can put to work your flatbeds, vacuum trucks, belly dumps, and pulling units. Maintaining solid cash flow is crucial in growing your business so that you can keep up with the demands of the oil & gas industry. With same-day payment, we are here to get you the money you are owed faster.
In addition to factoring, we offer a flexible array of alternative funding options to assist you with additional investment needs that may arise. We understand the value and need of being able to quickly finance equipment for your business —unlike banks—and can offer a financing package that will fit your company’s needs.
Why Viva Capital?
We strive to make the process as simple as possible. Not only on getting you cash quickly but also on providing support in handling all your back office and collection needs. We understand that you and your team are focused on the field operations, and may not have time to spend in the office dealing with your receivables. Collections can be time-consuming and expensive. So, let Viva Capital Funding support your business and get the financing you need so that you can focus on growth and getting the most profit out of your business.
Being in the Oilfield Service Industry, where it’s a highly capital intensive sector due to the payment terms of 60 or 90 days, lead us to look for a specialty finance lender. Viva Capital was quick to respond and get us approved when we needed it, and has helped us fund our invoices in an less than 1 hour. They made the approval process quick and effortless, within 24 hours we had been approved. Their team is always available for questions that come up, but most importantly for guidance on new client credit checks. We definitely would have you reach out to Viva Capital for any factoring needs. We look forward to continue to work with Viva Capital as we continue to grow our business.
Turn your invoices into immediate cash.