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In the Oil & Gas Industry 30 to 90-day pay terms are standard. These long pay terms can add "Cash Flow Stress" to growing companies.
Our specially designed Oilfield Factoring Lines can ease your stress and provide the cash you need to take advantage of this once in a lifetime Oil & Gas boom. What's more, Set-up is as easy as 1-2-3.
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Texas Oilfield Factoring Blog
TCI Business Capital opens Calgary office
May 8, 2013 TCI Business Capital opens Calgary office - Nathan Appel
Nathan Appel, Senior Vice President - Operations has just returned from Calgary, Alberta; home of the new TCI Business Capital office in Canada.
After weeks of planning, organizing, and construction, the office officially opened Monday May 6. Helping Nathan in opening the office were Tony Ogren, TCI's IT Administrator and Theresa Brickell, the Operations Manager for the Calgary office. Glen Miles, TCI's Senior Vice President, Business Development Canada was out meeting with prospective clients, so he wasn't on hand for the opening.
"Calgary is the home base for Oil exploration and Production not only in Alberta, but for all of Canada," said Nathan. "All the major players in the Oil industry have offices in the downtown Calgary area. Just within a couple blocks from us are EOG Resources Canada, Heritage Oil, Husky Oil, Ener T Corporation, and Canadian Forest Oil, just to name a few."
"We're excited about the new office in Calgary," said Nathan. "We've got the best Oilfield Factoring service in North America and with the Calgary location we will be able to provide our Canadian clients world class service, with a local presence."
"The area around Calgary; the Cardium in West-central Alberta; the Viking in East-central Alberta; the Pemiscot at Princess in Southern Alberta, these are all major plays and the Oilfield Service providers working these areas can benefit from TCI's Oilfield Factoring programs."
"The same hold true in Saskatchewan. The Lloydminster, Kindersley-Kerrobert, Swift Current and Weyburn-Estevan areas are all booming as well. Cash flow is vital no matter where work is being done and our Calgary office will be able to provide the cash companies need to be successful."
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About Texas
*Texas is the second-largest U.S. state by both area and population, and the largest state in the contiguous United States. Located in the South Central United States, Texas is bordered by Mexico to the south, New Mexico to the west, Oklahoma to the north, Arkansas to the northeast, and Louisiana to the east. Texas has an area of 268,820 square miles, and a growing population of 25.1 million residents.
Houston is the largest city in Texas and the fourth-largest in the United States, while San Antonio is the second largest in the state and seventh largest in the United States. Dallas-Fort Worth and Greater Houston are the fourth and sixth largest United States metropolitan areas, respectively. Other major cities in Texas include El Paso and Austin--the state capital. Texas is nicknamed the Lone Star State to signify Texas as an independent republic and as a reminder of the state's struggle for independence from Mexico. The "Lone Star" can be found on the Texas State Flag and on the Texas State Seal today.
Ever since the discovery of oil at Spindletop, energy has been a dominant force politically and economically within the state. The Railroad Commission of Texas, contrary to its name, regulates the state's oil and gas industry, gas utilities, pipeline safety, safety in the liquefied petroleum gas industry, and surface coal and uranium mining. Until the 1970s, the commission controlled the price of petroleum because of its ability to regulate Texas's oil reserves. The founders of the Organization of Petroleum Exporting Countries (OPEC) used the Texas agency as one of their models for petroleum price control.
Texas has known petroleum deposits of about 5 billion barrels, which makes up approximately one-fourth of the known U.S. reserves. The state's refineries can process 4.6 million barrels of oil a day. The Baytown Refinery in the Houston area is the largest refinery in America. Texas also leads in natural gas production, producing one-fourth of the nation's supply. Several petroleum companies are based in Texas such as: Conoco-Phillips, Exxon-Mobil, Halliburton, Valero, and Marathon Oil.*Source - Wikipedia
More Information on Texas Oilfield Factoring
Texas Oilfield Factoring is the Oilfield Factoring division of TCI Business Capital. Since 1994, we have provided "Best in Class" Oilfield Factoring solutions to thousands of small to mid-size companies all across North America.
We provide our Oilfield Factoring lines to Oilfield Service companies working on the front lines of America's energy sector. These companies choose our Oilfield Factoring services because they need working capital, but are not able to obtain sufficient financing from their bank.
We have separated ourselves from traditional lenders and other Oilfield Factoring Companies by eliminating the customary red tape that is common in the Oilfield Factoring industry.
Our streamlined Oilfield Factoring process is simple; you send us your invoices, and we pay you for them the same day. We then collect payment from your customers. It's that simple.
Texas Oilfield Factoring customers provide a wide range of upstream, midstream, and downstream services. Our Oilfield Factoring customers work for most of the Oil & Gas companies in North America.
Contact Information
Texas Oilfield Factoring
945 McKinney Street, # 617
Houston, Texas 77002
713-999-3537
Oilfield Factoring for Oilfield Trucking Companies
We provide our Oilfield Factoring service to Oilfield Trucking companies nationwide. In this industry 30 to 90-day pay terms are standard. These long pay terms create "Cash Flow Stress" for Oilfield Trucking Companies.
Our "Easy to Set Up" Oilfield Factoring lines can ease that stress by allowing you to access the capital that is tied up in your Accounts Receivables. As a result, you will have the working capital you need to get caught up on bills, pay owner operators on time and make any equipment purchases necessary to take advantage of this once in a life time Oil & Gas boom.
What's more, with our simple and straightforward underwriting guidelines, most of our Oilfield Factoring customers receive written approvals in 30 minutes or less.
We provide our Oilfield Factoring for the following Trucking Companies:
Whether you're a start-up just entering the Oil & Gas Industry or an established Oilfield Trucking Company, our Oilfield Factoring lines can help!
Oilfield Factoring for Oilfield Service Companies
We provide our Oilfield Factoring service to Oilfield Service companies nationwide. In this industry 30 to 90-day pay terms are standard. These long pay terms create "Cash Flow Stress" for Oilfield Service Companies.
Our "Easy to Set Up" Oilfield Factoring lines can ease that stress by allowing you to access the capital that is tied up in your Accounts Receivables. As a result, you will have the working capital you need to get caught up on bills, pay owner operators on time and make any equipment purchases necessary to take advantage of this once in a life time Oil & Gas boom.
What's more, with our simple and straightforward underwriting guidelines, most of our Oilfield Factoring customers receive written approvals in 30 minutes or less.
We provide our Oilfield Factoring for the following Oilfield Service Companies:
Whether you're a start-up just entering the Oil & Gas Industry or an established Oilfield Service company, we can help!
Oilfield Factoring for Oilfield Supply and Construction Companies
We provide our Oilfield Factoring service to Oilfield Supply and Construction companies nationwide. In this industry 30 to 90-day pay terms are standard. These long pay terms create "Cash Flow Stress" for Oilfield Supply and Construction companies.
Our "Easy to Set Up" Oilfield Factoring lines can ease that stress by allowing you to access the capital that is tied up in your Accounts Receivables. As a result, you will have the working capital you need to get caught up on bills, pay owner operators on time and make any equipment purchases necessary to take advantage of this once in a life time Oil & Gas boom.
What's more, with our simple and straightforward underwriting guidelines, most of our Oilfield Factoring customers receive written approvals in 30 minutes or less.
We provide our Oilfield Factoring for the following Oilfield Supply and Construction Companies:
Whether you're a start-up just entering the Oil & Gas Industry or an established Oilfield Supply and Construction Company, we can help!
More Facts about Oilfield Factoring
What is Oilfield Factoring? Oilfield Factoring is a transaction where an Oilfield Service Company sells (Factors) its Accounts Receivables, or invoices, to an Oilfield Factoring Company in order to improve cash flow. With Oilfield Factoring, the Oilfield Service Company will have immediate cash available for payables, payroll, maintenance, or improving equipment. Oilfield Factoring is not a loan, and therefore no debt is incurred.
At Texas Oilfield Factoring, our program is different from a bank loan in two significant ways. First, Texas Oilfield Factoring places the emphasis on the value of the Receivables, not the firms credit worthiness or fixed assets. Secondly, Oilfield Factoring is not a loan, it is the purchase of a financial asset (the Receivable). The Receivable is a financial asset associated with the debtors liability to pay money owed to the seller for work performed or goods sold. The seller sells its Invoices (the Receivables) at a discount to Texas Oilfield Factoring to obtain the cash needed for day-to-day operations.
Contact Information
Texas Oilfield Factoring
945 McKinney Street, # 617
Houston, Texas 77002
713-999-3537
Oilfield Factoring transfers ownership of the Receivables to the Oilfield Factoring Company. The account debtor is then notified of the sale and then remits payment directly to a lockbox designated by the Oilfield Factoring Company.
At Texas Oilfield Factoring, we provide other mission critical services including credit analysis, risk assessment, a/r management, billing, collections, treasury and 24/7 web reporting.
The three parts to Oilfield Factoring
There are three integral parts to an Oilfield Factoring transaction.
1. The fee, this is the amount an Oilfield Factoring Company will charge you for the service. Most Oilfield Factoring Companies will charge you a Factoring fee also known as a service charge as well as interest based on how long it takes the debtor to pay.
2. The advance, this is the percentage of the face value of invoice, the Oilfield Factoring company pays you upon submission of that invoice.
3. The reserve, this is the remainder of the total Oilfield Invoice amount held until the payment by the account debtor is made in full.
More about Texas Oilfield Factoring
Texas Oilfield Factoring is a leading Oilfield Factoring Company. Since 1994, we have provided "Best in Class" Oilfield Factoring solutions to thousands of small to mid-size companies all across North America.
At Texas Oilfield Factoring we distinguish ourselves from other financial institutions with our "Get it Done" culture. We are proud to be recognized for our reliability, flexibility, responsiveness, innovative products, customer service, and exemplary corporate citizenship.
The Texas Oilfield Factoring family is active in the community as we believe in helping those in need. Over the years, our support has been focused towards school-aged children, wounded veterans, countries hit by natural disaster, and victims of domestic violence. We take pride in supporting various organizations that share the belief that it is our duty and responsibility to help improve the lives of others.
Call today and talk to one of our Oilfield Factoring specialists. Our specialists will give a free consultation on how Oilfield Factoring can help your business. With Texas Oilfield Factoring there is no red tape to cut through or bureaucratic maze to navigate. What's more, with our simple and straightforward underwriting guidelines, most of our Oilfield Factoring customers receive written approvals in 30 minutes or less.
Texas Oilfield Factoring customers provide a wide range of upstream, midstream, and downstream services. Our customers work for most of the Oil & Gas companies in North America including:
For more information on Texas Oilfield Factoring, please call 713-999-3537
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