Invoice Factoring

Top 5 Best Oilfield Invoice Factoring Companies in Midland Odessa

It’s no secret that payment terms in the oil and gas industry can be long. Some businesses have payment terms that are 30, 60, 90, and even 120 days long! This extended wait time can lead to cash flow issues for oilfield companies. One solution is to try invoice factoring for oilfield in Midland Odessa.

How Does Oilfield Invoice Factoring Work?

How invoice factoring for oilfield in Midland Odessa works, is that an oilfield company sells its unpaid invoices to a factor or factoring company at a discount in return for cash in a matter of days. In essence, factoring is a tool that allows you to receive your invoice payments significantly earlier than standard net terms. Oilfield invoice factoring provides a quick and reliable fix for cash flow shortfalls that can cause issues for oilfield businesses. For more on how oilfield factoring works, check out our guide.

What Are the Benefits of Oilfield Factoring?

The benefits of oilfield factoring are numerous, including: 

  • Quick access to cash. Using invoice factoring for oilfield in Midland Odessa means you have fast access to the working capital necessary to cover day-to-day operating expenses or go after large projects. Oilfield companies can use factoring as a cash flow solution to eliminate the typical long wait time of getting outstanding invoices paid, and have immediate access to cash.
  • Fast approval. Once you’re set up, getting invoices funded only takes a couple of days. Unlike banks, the application and approval process for invoice factoring is quicker and less complicated. A factor also doesn’t consider your credit rating when making an advance. 
  • Flexible funding source. While some factoring companies require you to factor all your invoices, there are many others that allow you to pick and choose which invoices you fund. This means you have a flexible funding option when needed, but you aren’t committed to selling all your invoices. 

How Can Oilfield Invoice Factoring Help My Company?

Invoice factoring can help oilfield companies in Midland Odessa by giving them quick and convenient access to working capital when they want it. It can also help their: 

  • Growth. Having access to working capital allows your company to go after new and bigger projects with ease. You can be confident that you’ll have the funds necessary to hire labor, purchase equipment, and secure materials. 
  • Costs. Invoice factoring is typically a more affordable option than traditional bank financing options like business loans or credit cards. See how factoring compares to regular lines of credit. In addition, when you sell an invoice to a factoring company, you no longer have to devote resources to chasing down payments, freeing up time to work on other areas of your business. 
  • Flexibility. Invoice factoring gives you flexibility when it comes to dealing with customers. Just because a company is late on payments doesn’t mean they’re a bad customer. It could simply be a result of their operational reality — such as seasonality. With factoring as a tool in your back pocket, you can choose which invoices to factor and extend flexible payment terms to your customers.

Is Oilfield Invoice Factoring Right for Your Company?

If you’re tired of spending time chasing down late payments, or need reliable access to funding to grow your business, oilfield invoice factoring may be right for your company. 

Unfortunately, conditions in the oilfield industry mean that many companies have large amounts of cash going out constantly, but have to wait a while for cash to come in. It creates the perfect storm for ongoing cash flow problems. 

It’s a stressful situation, and unfortunately, even applying for and waiting on the approval process for traditional financing like a bank loan can take just as long as waiting on extended payment terms. That’s why so many business owners in the industry turn to oil and gas factoring companies; it levels the playing field for many small businesses.

Our Pick of the Best Oilfield Invoice Factoring Companies in Midland Odessa Texas

Once you’ve decided you want to try invoice factoring for oilfield in Midland Odessa, it’s important to find the right invoice factoring partner. Many business owners have been left with a bad impression of receivable factoring after choosing an oil and gas factoring company that acted slowly, charged hidden factoring fees, or insisted on a long-term contract. To get the best experience, ask any invoice factoring companies you’re considering about these points (in addition to ensuring they offer competitive rates). Here are our picks for the best oilfield invoice factoring companies in Midland Odessa Texas.

Why FundThrough

We may be a little biased, but we think FundThrough is one of the top invoice factoring companies in Midland Odessa. As the largest AI-powered invoice funding fintech in North America, FundThrough has established infrastructure, workflows, underwriting, and data, as well as deep experience across industries, including oilfield. We frequently fund invoices in the millions of dollars. With fast, flexible payments, you’ll be able to drive more growth and ultimately revenue for your company.

Factoring Amounts

FundThrough’s innovative AI-powered invoice factoring solution provides an unlimited factoring amount — the more you invoice, the more funding you can access.


  • Get invoices paid in days
  • Customers pay on preferred terms
  • Unlimited funding based on the size of your invoices
  • 100% advance rates, minus a single fee. One up front price with competitive terms
  • Leverage artificial intelligence to make fast funding decisions
  • Highly reviewed support team, and a partner in your success
  • Flexible access to cash. Fund any invoice to any customer you want


  • Technology requirements

Why Millennium Funding

Millennium Funding works with all types of oilfield service companies, including those upstream, midstream, or downstream. They have a large focus on the industry, and boast a streamlined application process to make factoring easy. 

Factoring Amounts

Unfortunately, Millennium Funding does not publish its factoring fees on its website, and the customer support representative we spoke to would not share rates without an application. It provides invoice advances up to 95%.


  • Access to a dedicated account executive
  • Access to knowledge sharing
  • Available credit insurance


  • No rate transparency
  • Unclear limitations on funding
  • Manual application process

Why Mazon Associates

Mazon Associates is a Dallas-based factoring service that’s been providing receivables financing for oilfield companies since 1976. It is a second-generation, family-owned business that’s been serving the Southwest longer than any other factoring company.

Factoring Amounts

Factoring fees range between 2% to 5% In addition, the company charges a monthly 1% finance or interest charge on outstanding invoices. As far as limits on funding, the company says it uses reputable credit bureaus to check customer credit history and account limits. If a credit check warrants a credit limit on an invoice, then you will be promptly notified.


  • Zero startup fees, no cancellation fees
  • No monthly minimums and flexible month-to-month contracts 
  • Same-day cash advances
  • Approval within 3 to 5 days


  • Month-to-month contract
  • Unclear funding limits

Why Gulf Coast Business Credit

Gulf Coast Business Credit specializes in oil and gas industry accounts receivable financing and asset-based lending. It understands that the oil and gas industry is very busy, so aims to make the factoring process as simple as possible.

Factoring Amounts

Gulf Coast Business Credit does not list their factoring fees or amounts.


  • No monthly minimums
  • No long-term contracts
  • Credit reviews and collection assistance upon request


  • Unclear funding limits
  • No transparency around rates

Why SB Factoring

SB Factoring offers same-day approval on invoice factoring, with a 92% approval rating. It only deals with companies in the oilfield industry, so has an in-depth understanding of the businesses workings and needs.

Factoring Amounts

SB Factoring provides invoice advances up to 95%.


  • Application processed within 24 hours
  • Same-day funding on approved invoices
  • Online invoice upload


  • Unclear funding limits
  • No transparency around rates

Final Thoughts on Invoice Factoring for Oilfield in Midland Odessa

Regardless of what invoice factoring company for oilfield in Midland Odessa you choose for your business, invoice factoring is an effective financial solution to help you get paid for your invoices now. If you have further questions about oilfield factoring services, our Complete Oilfield Factoring Guide has the answers.

We’ve found that when businesses have improved cash flow, they’re freed from a huge hurdle keeping them from growth, and they no longer worry about having enough cash to keep their business running – even if they have enough money in accounts receivable. Having peace of mind about their cash flow situation while being able to grow their business is why so many successful oilfield service companies take advantage of invoice factoring.

Interested in Factoring an Invoice With FundThrough?

If you’re ready to factor an invoice, or just want to have the option in your back pocket, see if you qualify for our oilfield factoring solution today.

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