Charter Capital, a provider of invoice factoring services, announced the expansion of Permian Basin factoring lines specifically designed for oilfield service companies working in west Texas and southeast New Mexico.

“Due to the rapidly expanding growth in oilfield work in the Permian Basin, oilfield service companies are facing cash-flow challenges,” said Keith Mabe, VP of Charter Capital. “Charter Capital has positioned itself to make funds readily available to qualified small businesses selling products and services in this industry.”

The company said that invoice factoring, or accounts receivable financing, is an often overlooked choice for growing companies. This form of financing is a financial tool that allows businesses to capitalize on the power of their outstanding invoices. Factoring can be a valuable mechanism to turn a business’ invoices into immediate cash, enabling them to fund business operations.

Charter Capital is a direct source of funds and does not involve any third-party lenders.

Charter Capital is an independent provider of accounts receivable financing/invoice factoring and cash-flow management solutions for small to mid-sized businesses.