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.
Texas Oilfield Factoring is the Oilfield Factoring division of TCI Business Capital. Since 1994, we have provided "Best in Class" Oilfield Factoring solutions to Hot Shot Trucks all across North America.
At Texas Oilfield Factoring we provide our Oilfield Factoring lines to Hot Shot Trucks who are working on the front lines of America's energy sector. These Hot Shot Trucks choose our Oilfield Factoring services because they need working capital, but are not able to obtain sufficient financing from their bank.
At Texas Oilfield Factoring we have separated ourselves from traditional lenders and other Factoring Companies that help Hot Shot Trucks by eliminating the customary red tape that is common in the finance industry.
Texas Oilfield Factoring for Hot Shot Trucks
We are experts in Oilfield Trucking Industry where 30 to 90-day pay terms are standard. These long pay terms create "Cash Flow Stress" for Hot Shot Trucks.
Our "Easy to Set Up" Factoring Lines can ease that stress by allowing Hot Shot Trucks to access the capital that is tied up in their Accounts Receivables. As a result of using our Oilfield Factoring service, Hot Shot Trucks are able to obtain the working capital they 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.
Set up for Hot Shot Trucks is as easy as 1-2-3
Step 1 - Get Quote
Call and get a free, no-obligation quote and approval from a Texas Oilfield Factoring Company specialist. Our simple and straightforward underwriting guidelines most Hot Shot Trucks receive written approvals in 30 minutes or less.
Step 2 - Submit Invoices and Related Documents
Once you accept the Texas Oilfield Factoring Company proposal, we will schedule your first funding. We can accommodate most time tables and even offer an expedited service for those in need of immediate cash. During the setup process, we will walk you through the agreement and have you send in your invoices and any related documents.
Step 3 - Get Paid for your Invoices
That's it! Now that you are set up with Texas Oilfield Factoring Company, we will either Wire or ACH the money directly into your account. From this point forward, we will pay you the same day we receive your Hot Shot Trucks invoices.
Texas Oilfield Factoring Company provides several complementary services for our Hot Shot Trucks including:
A/R Management for Hot Shot Trucks
Hot Shot Trucks are provided a dedicated Relationship Manager who is experienced at working with Oilfield service companies. This Relationship Manager will assist you in a wide range of services including: integration with billing software, Invoice handling, image archiving, payment posting and comprehensive account reporting available 24/7, through our secure online system.
Collection Services for Hot Shot Trucks
At Texas Oilfield Factoring Company we value the relationships you have with your customer's; they should not have to deal with unpleasant or disrespectful collection calls. The fact is that if you work for customers with good credit and submit invoicing to them in an acceptable manner, they will pay you within terms.
So how do our collectors help you? Rest assured it's not by yelling at your customers. Over the years, TCI Oilfield Factoring Company has built solid relationships and are on a first name basis with the accounts payable departments of Oil & Gas companies nationwide. These close relationships have allowed us to obtain a firm understanding of all the different and often cumbersome billing requirements that are common in this industry.
Simply put, we focus on any potential problems up front thereby reducing the need to make collection calls down the road.
Credit Analysis and Risk Assessment for Hot Shot Trucks
In today's economic climate, the need to understand and minimize risk is essential to your success. We provide this valuable service to all of our customers.
Fuel Cards and Discounts for Hot Shot Trucks
Texas Oilfield Factoring Company customers are eligible to receive free setup to the 24-7 Fuel Card. This Fuel card is available for use at over 8000 locations nationwide and offers users significant discounts at major fuel centers nationwide.
Treasury Service for Hot Shot Trucks
Our fully automated and flexible treasury department allows you to decide how you want your funds transferred on a daily basis. Funds can be dispersed via: Wire, ACH, to a Fuel Card account and more.
More information on Hot Shot Trucks
Hot Shot truckers, also known as Hot Shots, play an important role in the operations of the oil and gas industries. Hot Shots haul expedited loads in trucks smaller than the more commonly used semi-truck and trailer. Though Hot Shots use a variety of vehicles and equipment, a 1-ton diesel dually pulling a 40' gooseneck trailer tends to be the Hot Shots truck of choice. Theoretically, Hot Shots are freelance-like drivers who are constantly on standby as they wait for a job requiring immediate response. However, with the recent boom in the oil and natural gas industries, Hot Shots are almost always on the move in their effort to meet time-sensitive deadlines.
For the oilfield and gas industries, Hot Shots provide emergency delivery of necessary products. Hot Shots haul oil field equipment, supplies, and other important machinery on a moment's notice when necessary: Hot Shots are especially critical in the instance of a broken, malfunctioning, or broken part. The efficiency, speed, and flexibility of Hot Shots allows oil field workers to address and overcome any unanticipated obstacles with remarkable speed, meaning that production and drilling can continue unhindered and on schedule.
As with any truckers, Hot Shots must ensure that they are using the best equipment to safely and efficiently transport their loads. Each company has its own rig requirements, and many Hot Shots prefer to purchase and use a rig that no only meets the requirements of their employer, but also one that is flexible in its usage, allowing the Hot Shots to be capable of hauling a variety of loads. The truck choice of Hot Shots is just as important as their trailer: most Hot Shots prefer trucks that are as big and long as possible, usually with a diesel rather than gas engines. For Hot Shots working for oil and natural gas drilling companies, it is important to consider using a truck with 4-wheel drive capacities. Oilfield Hot Shots will necessarily travel off road and in tough terrains, and thus require a truck and trailer that are durable and strong.
Hot Shots may operate and organize their business in several ways. Some Hot Shots will work entirely independently: autonomously setting up a unique customer base and finding and arranging their own loads. Other Hot Shots will sign onto a trucking company, thus leasing out themselves and their rigs. For some Hot Shots, this route is appealing, despite losing some profit to the trucking company. These Hot Shots deliver the loads, while their employer seeks out loads that need hauling, while also arranging and organizing the paperwork, billing, and collection of payroll. In the present economic climate--and merely for the shrewd purpose of maximizing profit--many oil and gas industry companies are opting for repaired, used, or rented tools and equipment. This means that these companies are even more dependent upon Hot Shots for operation: companies rely on Hot Shots to deliver these recycled products to the drill site. As companies continue to recycle equipment in an effort to preserve resources and drill fewer wells, Hot Shots will continue to meet growing demands for delivery services.