Finding Convectional financing for energy service companies to the energy industry can be a long and tedious process. Getting business financing is tough when the economy is doing well and almost impossible when the economy is doing badly. There is a reason for this, lending money to a business is considered risky, especially for financial institutions. This is why most institutions will ask for audited financial statements and will insist that your business must have good collateral. What qualifies as good collateral? Usually real estate, machinery and accounts receivable in some combination. Furthermore, institutions also want to see a multiyear track record in which your company shows substantial growth.
But what if you own a startup? Or do not have hard collateral? Or, what if your business is in a turnaround situation? Usually, you’ll be out of luck. Fortunately, there are other options. An one of the better options is factoring
Factoring for the Energy Industry
We can Fund Fast
No dollar limits
Obtain pre credit approval on your clients
Insure away Client bankruptcy risk
Won’t encumber other assets
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