The news from places like North Dakota and East Texas flows as quickly as the oil from these now-booming areas.
In Williston, ND, the oil industry is causing as many headaches as benefits. The housing market is outrageously expensive; if housing is even unavailable. College students are leaving school for oil jobs. Others are taking classes just to take advantage of cheap student housing while they work the oil fields. As rents continue to rise, the city’s elderly and other established residents will struggle.
But… the oil boom is creating a massive number of jobs and generating truckloads of cash for people and companies involved in the industry.
Universal Funding has financing programs available to provide immediate capital to many of these oilfield service companies. Companies that provide welding, drilling equipment, maintenance, transportation and other services to active oilfields can benefit from the rapid financing provided by invoice factoring.
In most cases, payment arrives within 24 hours of generating an invoice, which means instant cash infusion and eliminating the 30, 60, 90 or more day wait often associated with oil industry payments.
Companies that factor incur no debt because they don’t borrow money. They just get quick cash that allows them to continue operating and grow. Plus, they don’t have to deal with the tedious tasks of collecting on their invoices, dealing with late payers and wondering how to bridge the gap between daily operating costs and finally getting paid.
Factoring is a perfect fit for companies working in the oil industry and money is available right now for those who need it.
Contact us today to find out how much money we have for you!