The Permian basin in west Texas is really starting to boom again. With many large producers ramping up production, many oil field service businesses are feeling the effects and are growing rapidly, at a pace that many haven't seen in years.
This is awesome, but this growth also requires a lot of work, capital and flexibility to scale at such a pace.
A very common solution to the capital and flexibility problems is invoice factoring. Invoice factoring helps free up capital that is stuck waiting to get paid on terms. In the oil and gas industry quite commonly businesses are waiting 60 or 90 days to get paid. This form of funding enables you to stop waiting, get that infusion of cash and continue to grow your business.
Meritus Capital has been able to help many in the West Texas/ Permian Basin area by providing the funds they need to grow their business through invoice factoring.
Here is how it went:
Would this client stay stuck in their current situation, or could they find a way to successfully take advantage of their extremely rapid growth and requests from new customers. Meritus was able to help by providing our new client with a $6.5MM funding and $10MM max LOC, giving them in addition:
Reach out to Meritus Capital today and discuss how we can work to get you in a funding position where you can take advantage of the booming Permian Basin.
For more information on invoice factoring check out our related articles!
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