Invoice Factoring in West Texas / Permian Basin

11/Take advantage of the growth in the Permian Basin

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:

• Our new client, a hauling company in the Permian Basin, came to us with a problem that we see again and again:
• Their current factor was maxed out and unwilling to listen to their client's requests and needs
• They were experiencing rapid growth in the oil fields in West Texas
• They did not have the available capital to meet demand

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:

• A much lower rate without the extra fees
• More flexible customer service
• No requirement to factor all their invoices
• In the rapid, urgent manner they needed it
  

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!