Factoring for the Energy Industry
The provision of energy is critical to everyday life as well as a thriving economy. A reliable cash flow is critical for those who provide this energy and ones who provide support services. Having money tied up in account receivables hinders a smooth operating business. Factoring for energy companies turns working capital held hostage by unpaid invoices into liquid cash. This money can then be used for supplies, equipment, labor, take advantage of opportunities, or handle challenges that are encountered.
Factoring for energy companies is a no debt financial solution
Slow paying customers can have a disastrous affect on an energy or energy support company. Not only in financial terms, but also with the inability to secure more lucrative accounts. Opportunities sometimes are only available for a short period of time. Having the proper funding in place before those opportunities arise is the intelligent way to do business.
Factoring is the no debt financial solution that helps you to get an upper hand in a competitive market. A non-recourse factoring arrangement gives you peace of mind against credit issues of your customers. Money being deposited into your bank account within 24 hours of submitting an invoice gives you the working capital needed to be successful.