Quickpay Funding established a $150,000 accounts receivable factoring facility for an oilfield services company specializing in water hauling, skimming and disposal. The facility provides immediate working capital to support the company’s field operations and position it for continued growth.
As the demand for reliable fluid management increased and new business opportunities emerged, the company needed a reliable financing partner to accelerate cash flow and keep pace with growing demand.
Slow-paying invoices created a gap between completing work and receiving payment, which limited the company’s ability to take on additional contracts and scale its operations. To unlock growth, the company sought a financing partner with deep expertise in oil and gas receivables.
Quickpay structured a flexible accounts receivable purchase facility that allows the company to convert outstanding invoices into immediate working capital, eliminating cash flow gaps and enabling the business to pursue and fulfill more work without financial constraints.
“As oilfield activity continues to drive demand for essential support services, companies must be equipped to handle rapid operational needs and significant upfront expenses,” Juan Estrada, president and CEO of Quickpay Funding, said. “We’re proud to bring our oil and gas expertise and same-day funding to this client so they can focus on growing their business and expanding their service capacity.”
