What Is Oilfield Factoring?
Oilfield factoring is a financing solution that allows you to convert unpaid invoices into immediate cash. Instead of waiting for energy producers, operators, or government entities to pay on net terms, you submit the invoice to us and receive up to 90% of the value, usually within one business day.
Unlike a loan, invoice factoring for oilfield companies doesn’t add debt to your balance sheet. It gives you access to money you’ve already earned, faster.
Learn more about how invoice factoring works.
How Much Does Oilfield Factoring Cost?
This is a question we love answering, because some oil and gas factoring companies may not be transparent about how they bill their services, leading to unnecessary confusion for you, the customer.
At New Century Financial, our oilfield factoring services are competitively priced and fully transparent. We charge a small fee based on the invoice amount in exchange for advancing you up to 90% of your invoice, often within 24 hours.
Compared to the cost of borrowing or the risk of delayed payments in the oil and gas sector, invoice factoring for oilfield companies is often the more affordable, flexible option. There are no hidden fees, no long-term contracts, and you only pay for the invoices you choose to factor.
Many of our oil and gas factoring clients tell us they were surprised by how accessible our pricing is, especially when it means having the working capital to cover fuel, equipment, payroll, and ongoing field operations without adding debt.
Why Oil and Gas Companies Use Factoring
The oil and gas industry is complex, competitive, and capital-intensive. From upstream drilling operations to downstream distribution and everything in between, consistent cash flow is the key to staying productive.
That’s why so many energy sector businesses use oil and gas factoring companies like New Century Financial.
With our help, you can:
- Pay employees and contractors on time
- Buy parts, fuel, and materials when needed
- Avoid taking on debt to cover day-to-day costs
- Bid on bigger contracts with confidence
- Fund long-term growth and expansion
- Keep operations running smoothly during payment lags
Who Benefits from Oil and Gas Factoring?
We work with a wide range of oilfield and energy-related businesses. If you invoice other companies and wait to get paid, oilfield invoice factoring can help.
Common clients include:
- Oilfield service providers
- Drilling and exploration contractors
- Well servicing companies
- Pipeline services and welding crews
- Equipment rental and pad rental companies
- Oilfield trucking and logistics firms
- Site preparation, land surveying, and demolition teams
- Environmental, waste hauling, and reclamation services
- Engineering consultants and archeological/cultural resource managers
- Pipe, casing, and aggregate suppliers
- Roustabout services and labor staffing firms
- Fence and cattle guard installation companies
- Crane service providers
Whether you're supporting upstream operations, working midstream in transportation, or supplying downstream facilities, we understand the cash flow pressures you face—and we’re here to solve them.
How Our Oilfield Factoring Process Works
We make it fast and simple to get started. Here's how our oilfield factoring company helps you access capital in three easy steps:
- Send us your invoice: Choose which invoices you want to factor. We don’t require you to submit all of them.
- Receive up to 90% funding within 24 hours: Once approved, we transfer cash directly to your account.
- Get the rest when your customer pays: Your customer sends payment directly to us, as outlined in the invoice. Once received, we promptly send you the remaining balance after deducting our agreed-upon fee.
It’s flexible, straightforward, and designed to work with your billing cycles, not against them.
Why Choose New Century Financial for Oilfield Factoring?
Not all oil and gas factoring companies can keep you running without interruption. We’ve spent decades helping oilfield businesses solve cash flow problems without giving up control or getting tied down with complicated contracts.
Here’s what sets us apart:
- Fast Approval: Get started in 24 hours or less
- High Advance Rates: Up to 90% of your invoice value
- No Long-Term Contracts: Use us only when you need to
- No Monthly Minimums: Factor a single invoice or several
- No Hidden Fees: Transparent pricing from day one
- 24/7 Online Reporting: Real-time visibility into your account
Invoice Factoring vs. Traditional Loans for Oil and Gas Companies
| Feature | Oilfield Factoring | Traditional Business Loan |
|---|---|---|
| Approval Speed | 24 hours or less | Days to weeks |
| Repayment Obligation | None | Fixed monthly payments |
| Impact on Debt Ratio | None (off-balance sheet) | Adds to liabilities |
| Tied to Credit Score | No | Yes |
| Collateral Required | No* | Often required |
| Grows With Revenue | Yes | Limited |
Invoice factoring for oilfield companies is designed for the realities of your industry: slow payments, large contracts, and the need to stay operational through market swings.
How Oil and Gas Factoring Supports Your Growth
Whether you're bidding on a new drilling contract, expanding into new territories, or ramping up after a slow quarter, cash flow can’t be the reason you say no to opportunity.
Our oil and gas factoring services give you the ability to:
- Hire skilled labor
- Purchase fuel, steel, and equipment
- Take on higher volume work
- Cover insurance, permitting, and compliance costs
- Meet payroll during project ramp-ups
- Maintain reserves for market shifts
With New Century Financial, you don’t have to wait for payments to take the next step.
Apply for Oil and Gas Factoring Today
You’ve already done the work, now get paid for it. Don’t let slow-paying customers stall your momentum. With oil and gas factoring from New Century Financial, you can access the cash you need to keep drilling, building, shipping, and growing.
Call us at 800-805-8380 or apply online now. Our specialists will build a funding plan tailored to your business, so you can stop waiting and start moving.
Frequently Asked Questions About Oil and Gas Factoring
Do I have to factor all my invoices?
No. You choose which invoices to factor and when. There are no minimums, and you’re never locked into long-term agreements.
What if my customer takes longer than expected to pay?
We understand that delays happen in this industry. If a client becomes unresponsive, we can help support your collection efforts, but you remain in control of your customer relationships.
Is oilfield factoring only for small businesses?
Not at all. While many of our clients are small and mid-sized businesses, we also work with larger contractors and suppliers. If you invoice and wait for payment, you can benefit from factoring.
Is invoice factoring a loan?
No. Factoring is not a loan. You’re not taking on debt or making repayments. You’re accessing your earned revenue sooner.