Oil and Gas
Receivable Financing and Invoice Factoring For Oil, Gas and Oilfield Energy Companies
- We finance water haulers, roughnecks, welders, riggers, roustabouts, crane operators, fracking operations and other oil industry vendors.
- Get up to 92% of your invoice advanced
- Resolve Payroll Issues
- Increase Working Capital and Growth
- Client Credit Services
- Accounts Receivable Management
- Receivable Financing
The US oil and gas industry is experiencing a surge in production because of new technologies enabling the industry to gross higher profit margins. Since 1994 Paragon Financial Group has been offering the oil, gas and energy industry an alternative to conventional Bank Financing. When the banks wouldn’t offer you financing, Paragon could offer oil, energy and gas companies a steady stream of cash through the factoring of their account receivables or invoice factoring. When you need cash now to be able to fulfill a large order Paragon is there for you. When you can not wait 30-90 or more days for payment of an invoice Paragon is there. Paragon pays you up to 92% of your invoice amount immediately upon invoicing, through our factoring program, you will have the money to meet payroll, grow your company, and pay suppliers. We even become your credit department.
Oil, gas and oilfield service companies, vendors and suppliers include, but are not limited to water haulers, frac sand haulers, roustabouts, vacuum trucks, environmental clean up, excavating / dirt work, tank cleaners, pressure washing, component manufacturers, inspection services, flowback testing, gravel pit suppliers and rig movers.
Get started immediately by using our fast, secure online application.
President of Paragon Financial, Michael Rossi, on the state of oil and gas financing, “The development and discovery of new oil and gas reserves within the United States is helping to spurn growth in both local and national markets. Jobs in the oil field tend to pay double the median wage in areas where they are common. Thousands of new jobs are created in order to excavate these natural resources. This now leads to even more jobs as pipelines to transport the oil are constructed, refineries are built for oil to fuel processing, and tankers are added to transport the finished product. These larger oil and gas companies hire smaller companies to help them complete every phase of the process. It’s these smaller to medium size businesses that will need proper invoice factoring in place to supplement that growth and ease the cash flow difficulties that can be associated with that growth. The level of growth in the oil and gas industry is creating a similar ripple of growth in the Factoring industry and other niche financing sectors.”