Harper partners with Oil and Gas companies to bridge working capital gaps and fuel growth.
Oil and gas companies are a major driver of the U.S. economy. However, businesses across the industry face fluctuating demand that moves with global oil and gas markets. Sudden growth or contraction can strain the cash flows of the most tightly run companies. Harper Partners provides invoice factoring solutions to companies in all parts of the oil and gas ecosystem – from service providers to equipment manufacturers to transportation businesses.
Oil and Gas Factoring
Factoring for oil and gas companies is a straightforward process. After you reach out to us, we’ll begin the application process. Factoring underwriting is based on your customers’ creditworthiness so it’s a great solution for early stage or not yet profitable businesses. It’s also not based on the company principals’ personal credit, so low or bad credit is completely fine! Applying companies can be approved within 2 days for credit lines below $250,000 and 5 days for credit lines up to $5 million.
After approval, the process of funding invoices is seamless and fast.
- Send Harper a copy of your invoices for completed work.
- Harper will verify your invoices and advance up to 90 percent of the invoice via wire or ACH within 24 hours. Wires can even reach your bank account same day.
- Business as usual – take on new jobs or submitting new invoices for funding. The payments are routed to Harper for collection but the account is still under your company’s name.
- After payment is received, Harper will immediately send you a rebate of the remaining invoice amount less a small fee.
Companies qualify for invoice factoring if they sell to another business or the government. As such, most oil and gas companies qualify.
Faced with lengthy payment terms and demand fluctuations, many O&G businesses struggle to generate steady cash flow and can’t self-fund growth. This can be extremely frustrating for company management. Working with Harper helps overcome these challenges with a combination of factoring financing and other value add services. We work with companies across the oil and gas industry:
Harper provides funding and value-add services to companies across the oil and gas industry.
We are a factoring company that serves clients all over the U.S., across many different industries. However, we’re particularly adept at funding oil and gas technology, servicing and transportation businesses. Our deal sizes range from $50k to $5mm with factoring rates from 1% – 3% per month. We’ve worked with technology-enabled energy startups (both VC funded and bootstrapped), traditional transportation companies, and O&G service providers. Along with funding, Harper provides financial consulting, fundraising resources and other partnership benefits.
To learn more about Harper Partners and invoice financing, reach out to us on our Get Started page, call (310) 817-0376, or send us a message in the chatbox below.
For a detailed overview of the invoice factoring process, check out How It Works.