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 90% of your invoice advanced
- Resolve Payroll & Tax Issues
- Increase Working Capital and Growth
- Client Credit Services
- Accounts Receivable Management
- Receivable Financing
The US oil and gas industry had been experiencing a surge in production because of new technologies enabling the industry to gross higher profit margins. At the same time, the increased output and harsh competition battling for the lowest price has created a downward trend in oil and gas prices. The result has been a cash crunch for many oil and gas companies borrowing an excessive amount of cash to stay afloat.
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 90% 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.
Paragon is committed to funding shale oil and gas companies. we found this article insightful, 2017 is Affirming that Shale is Transformative
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.
President of Paragon Financial, Michael Rossi, on the state of oil and gas financing, “Larger oil and gas companies hire smaller companies to help them grow and complete every phase of their process. It’s these smaller to medium size businesses that will need proper invoice factoring in place to supplement their own growth and ease the associated cash flow difficulties.”