VIVA HELPED BelCon Logistics grow 1,000% in just 3.5 years with oilfield factoring services from Viva Capital.
BelCon Logistics frac sand hauling truck in the Permian Basin
Startup Growth Strain
When BelCon Logistics CEO Alex Contreras founded the company three-and-a-half years ago, he had just two office employees and ten drivers. Between his experience, business aptitude, and tenacity, the team quickly locked in deals across the Permian Basin delivering frac sand for household names like Chevron and Haliburton. Thanks to their reliable and on-time services, demand for BelCon boomed.
While this scenario is a dream for most business owners, it comes at a cost. Contreras was caught in a deluge of closing deals and was buried in resumes, his company constantly hiring to keep up with the exponential growth. BelCon’s invoicing processes, and ultimately collections, paid the price.
“We were experiencing problems with sending out billing correctly and also getting paid on time,” Contreras acknowledges. He knew he needed to solve these problems and ensure his ever-growing team of drivers got paid on time, but he wasn’t sure what the best solution was.
“[The Viva Capital team] have Become my Trusted Financial Advisors.”
Solved by Oilfield Factoring Services from Viva
“I interviewed several factoring companies,” Contreras explains. “Viva Capital’s hands-on approach and active listening while I was explaining my company’s struggles really distinguished them above all the other companies I was considering. Additionally, Viva Capital impressed me with their familiarity and expertise they have in the oilfield industry.”
BelCon began leveraging Viva’s oilfield factoring services while still in the early startup phase and instantly began streamlining its collections. The company now works across the Permian and Delaware Basins, supported by a team of 12 office employees and 120 drivers – a 1,000% increase in just three-and-a-half years.
“Their knowledge in oil field services and the proximity they have in the oil field basin has really been something that has become key in our business relationship,” Contreras notes, “and is an obvious advantage that we didn’t realize we would end up appreciating so much later down the line.” He also developed a relationship with his Viva account manager that’s helped BelCon grow even stronger. “Their consulting style and management of my account with them has been something that I’ve really grown to appreciate,” he adds. “They’ve become my trusted financial advisors.”
Going forward, Contreras says BelCon will continue to grow, but he’s also focusing on operational efficiency, diversifying the company’s client portfolio, and maintaining a steady cash flow stream with help from Viva.
His advice for other businesses considering factoring is simple: “Don’t wait. Make sure and find a trusted partner because that factoring company will be your lifeline and your financing partner as you grow your business. Just as you need a good CPA and attorney, find a good factoring company.”
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