Paragon Financial Group is funding during the COVID-19 crisis.

Receivable Financing Helps Oil and Gas Industry Players With the Working Capital and Growth Financing They Need — Now

The U.S. oil and gas services industry is experiencing an explosion in growth, as the country moves toward lesser dependence on foreign energy sources. As the technology of locating and extracting both oil and gas energy sources expands at an exponential pace, the demand for domestic energy continues to increase along with receivable financing. And due to this augmentation, oil and gas industry funding is becoming more prevalent.

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“The scale of this unfolding oil and gas revolution in the United States” is surprising in its rapidity, according to Daniel Yergin, vice chairman of global information company IHS and head of the firm’s Cambridge Energy Research Associates unit (which he founded). Yergin is a long-time, recognized expert on the energy industry.

“The fact [that] our oil production is up 40% since 2008, and the economic impact it has had on jobs, manufacturing, and competitiveness. I think that’s a theme that’s going to run through [the discussion],” Yergin said in an interview in March with CNBC in connection with an annual energy conference the firm has been sponsoring for many years.

Hydraulic fracturing, or “fracking,” has helped lead to this revolution in gas and oil production. The U.S. Energy Information Administration (EIA) has projected a 2,200 trillion cubic feet of gas resources in the U.S., enough for 100 years. In drilling for that gas, the industry uncovered a trove of natural gas liquids.

Furthermore, the International Energy Agency is expecting that the U.S. could potentially leap-frog Saudi Arabia and Russia. Meaning, it will make the US the world’s biggest oil producer by 2020.

The Implications for You

What does all this explosive growth mean for you? As a supplier of equipment and services to rapidly expanding industries, you need to deliver to your customers on time. To do that, you need financing to help you meet your working capital needs. You also need to invest in the ongoing growth of your business to meet the ever-growing demand.

But it’s difficult to meet these financial requirements when your customers do not pay down their account receivables promptly. Very often, that payment time frame stretches to 45 or 60 days, or even beyond. Also, the cash flow you need does not materialize fast enough.

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Receivable Financing Helps Oil and Gas Industry Players With the Working Capital and Growth Financing They Need — Now

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Accounts Receivable Financing and Factoring Receivables Solves the Problem

The solution to meeting your short-term financing needs is to fund your operating and growth requirements through accounts receivable financing – where a factoring company purchases your accounts receivable at a discount, and you receive immediate cash.

At Paragon Financial, we have been a leading provider of receivables factoring to the oil and gas industry for nearly two decades. We help you customize a receivables financing program designed especially for your company’s requirements.

As part of this process, we provide you with immediate cash – up to 90% of your invoice amount. This working capital financing will help you meet payroll and pay suppliers. Also, this will help fill large orders that might getaway if you could not obtain needed parts and components promptly. You don’t have to wait 45-60 days or more to get the cash you need now.

Furthermore, flexibility is a hallmark of our service at Paragon. We enable you to use receivable financing only when and if it is favorable to you. You choose the accounts you wish to use for your financing needs.

Whether your company is new to the oil and gas industry, or you have been in the business for decades. Whether you have a major expansion opportunity and need extended funding, or even whether your company has had past credit problems, and it has been difficult to locate a funding source. You can count on Paragon Financial to help you grow and prosper in today’s expanding oil and gas market.

Get receivable financing for the oil and gas industry today!

Apply Securely, call 888-400-5931 ext 1 or email us.

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