Working Capital

Top 5 Best Oilfield Financing Services in Fort Worth

Finding the best oilfield financing services in Fort Worth isn't just about finding a sweet spot for the funding amount. For oil and gas organizations in need of capital in North Texas, the funding speed, process transparency, and rates can make a big difference. That's why we've done the legwork and pinpointed the top five oilfield financing services for organizations specifically in Fort Worth.

What is Oilfield Financing

Outside of a traditional bank loan, there are various types of oilfield funding. For our purposes, we'll look at one of the most popular ways of getting quick capital: Invoice factoring. A form of accounts receivable financing, invoice factoring provides you a cash advance.

Fast Cash with Oilfield Financing

How fast is fast when it comes to factoring? This oilfield financing option usually offers funding within days for a few reasons

First, a sound factoring company will have a streamlined application process, usually taking no more than 15 minutes. Next, applying for invoice factoring requires significantly less paperwork than a bank loan and does not need collateral. Finally, because you've already issued an invoice to a client, it's more likely that the financing company will get paid back.

How Oilfield Financing Works

The actual process for getting oilfield financing should be simple. Here is the general process:
  • You apply and are approved for funding.
  • The financing company deposits the working capital in your bank account.
  • Your customer fulfills their invoice to the financing company.

Many factoring organizations will not offer a full cash advance. Usually, you will get 80-90% upfront and the remainder after the customer has paid. (But at FundThrough, we advance the full amount with a flat fee!)

What are the Benefits of Oilfield Financing?

There is a reason so many oil and gas organizations in the Fort Worth area turn to invoice financing. Some of the benefits include:
  • Fast application
  • Quick access to funds - in days
  • Access to millions of dollars in working capital
  • Easy repayment
  • Reduced admin work from not having to handle collections
  • Flexible funding that’s available anytime

Our Pick of the Best Oilfield Financing Services in Fort Worth, Texas

1. FundThrough

Why FundThrough

  • Unlimited funding for Velocity-qualified clients
  • Receive invoice payments to your bank account
  • Leverage an AI to generate automated funding offers
  • Only fund the invoices you want, when you want
  • Integrated with OpenInvoice, WorkBench, and QuickBooks
  • Easy-to-use
  • Quick, 5-minute application process

Financing Amounts

  • Express funding: $5,000-$15,000
  • Velocity funding: Unlimited funding starting at $15,000

Pros

  • Obtain a 100% invoice advance
  • AI technology generates automated funding offers in minutes
  • Transparent fees: 0.5% a week for Express, 2.5% per 30 days for Velocity
  • Unlimited funding ensures capital for any size project (for clients that qualify for Velocity invoice factoring)
  • Quick funding boost
  • Free credit checks on customers
  • Downloadable reporting
  • Dedicated account executive
  • Online management portal

Cons

  • You must use a form of online banking
  • Weekly repayment reschedule with Express

2. GO Funding

Why GO Funding

  • Headquartered in Minnesota
  • 15 years of experience
  • Finds customized financing options

Financing Amounts

  • Dependent on the program they connect you with

Pros

  • No rate transparency
  • Not a financing company itself

Cons

  • Lack of rate transparency
  • May require more application paperwork
  • Longer approval and funding timelines

3. Gulf Coast Business Credit

Why Gulf Coast Business Credit

  • Strong presence in Texas
  • Specializes in oilfield industry funding

Financing Amounts

  • Cash advance between 75-90% of the invoice amount

Pros

  • No monthly minimums
  • No long-term contracts
  • 5 Texas locations
  • Both invoice financing and asset-based lending options

Cons

  • Manual quote and approval process
  • Funding within 5 business days
  • Low transparency in terms of rates and funding amounts

4. TCI Business Capital

Why TCI Business Capital

  • Headquartered in Minnesota
  • Over two decades of experience

Financing Amounts

  • Up to 95% of the invoice amount up to $10 million

Pros

  • 15-minute approvals
  • Same day funding
  • Transparent fees

Cons

  • Unclear rates
  • Manual quote process

5. Orange Commercial Credit

Why Orange Commercial Credit

  • Over 40 years of experience
  • Located in Washington
  • Flexible programs

Financing Amounts

  • Cash advance up to 97% of the invoice amount

Pros

  • No minimum monthly payment requirements
  • Online invoice submission
  • Credit check customers

Cons

  • Manual application process
  • High fees

Final Thoughts

The best oilfield financing services provider is less about minimum funding amounts and more about what meets your organization's needs. Transparent rates, oilfield service industry knowledge, flexible repayments, and an online management process can all make factoring a seamless experience.

At FundThrough, we're always happy to help. To see if we are the right fit for your business, create a free online account today.

Explore fast payments with an experienced fintech

Interested in possibly embedding FundThrough in your platform? Let’s connect!