Companies in all industries routinely face two obstacles:
- Unexpected expenses
- Late payments from clients
Companies in the oil, gas and energy industries may be even more prone to these issues than other businesses. Regardless of your industry, though, both of these problems can put a serious kink in how much cash your company has to work with each month.
How can a company keep itself in the black while waiting on customer payments or writing checks for new equipment or spending money to constantly fix stuff that breaks? A factoring plan can be a real lifesaver in situations like these. Invoice factoring allows business owners to get cash much quicker than they would through their normal accounts receivable operations.
Like, in a day or two, rather than a month or two.
Instant cash is just one of many benefits factoring can bring to your company. For one thing, factoring is not a loan so you won’t have to open a new line of credit or take on any debt repayment schedules. Another benefit is free access to business finance professionals who can help solve tax issues and resolve collection problems.
Of course, we can’t leave out the biggest benefit of all: more profit.
If you have customers in the oil and gas industry, you know all too well that they can wait anywhere between one and three months to pay! With factoring, though, you can receive the money you are owed within a few business days; money you are then free to use however you see fit for your business.
Universal Funding offers incredible rates combined with superior customer service, which means you could be on the path to faster cash, and more profits, in just a few days.
If you want to know how it’s possible, just contact Universal Funding today or fill out and submit the form to the left.
We hope to hear from you!