Odessa

Funding for Companies Needing Cash

Companies obtain funding in several different ways. Many companies, waiting to get paid by slow-paying customers, turn to invoice factoring, also known as accounts receivable financing.

Our Odessa invoice factoring programs work by selling your invoices to Scale Funding. We’ll advance you up to 95 percent of the invoice amount, same-day. While we wait for your customer to pay in 30, 60, 90 or more days later, you can focus on operating your business.

Once your customer pays the invoice, we’ll remit the remaining invoice balance back to you, minus our competitively low factoring fee.

While some companies turn to business loans or lines of credit for funding, they aren’t always the best or available solutions.

Odessa Accounts Receivable Financing	Business Loans and Lines of Credit
Approvals in as little as 15 minutes	Lengthy approval process
Not dependent on your credit	Dependent on your credit
No monthly interest	Monthly interest paid
Same-day funding	Funding in 1-3 months
Free customer credit reports	No customer credit reports
Does not add debt	Adds debt
Eliminates cash-flow gap from slow-paying customers	Cash-flow gap continues to grow as your business grows

Contact Scale Funding over other factoring companies in Odessa to receive high advances, low rates, and same-day cash on your invoices.

Customized Invoice Factoring Programs Since 1994

Scale Funding understands how critical it is to have a positive and steady cash flow no matter what business size or financial stage you’re in. Companies choose to work with us over other factoring companies in Odessa and Texas because we’re able to fund almost any business waiting for customer payment.

 

Our Odessa invoice factoring programs help companies that are starting up, growing quickly, and those facing financial challenges. If you have a maxed-out credit or less-than-perfect credit, no need to worry, our customized programs can help you. We also provide debtor-in-possession financing solutions to those going through a business bankruptcy.

We know you work hard and deserve to get paid right away for the services you provide. Let our invoice factoring solutions provide you with the same-day cash you deserve.

Industries

Our team of account representatives, collectors, business development officers, and credit analyzers are knowledgeable in several industries. Some of the industries we’ve provided a cash-flow solution to include:

Oilfield: frac sand hauling, roustabouts, drilling, gravel haulers, water haulers, acidizing, grading, and more	Trucking & Freight: refrigerated trucks, hotshots, flatbeds, vans, intermodal, tanker fleets, and more
Heavy Construction: crane operators, utility locators, heavy hauling, heavy machinery operators, and more	Utility & Pipeline: construction, maintenance, rehabilitation, welding, sewer construction, and more
Telecom: fiber optic installation, cell tower construction, tower erectors, cell tower maintenance, and more	Technology: consulting, data management, IT services, network administration, and more
Renewable Energy: solar, wind, water, site preparation, site maintenance, site operations, and more	Staffing Agencies: administrative, clerical, general labor, medical and healthcare, and more
Government Contractors: staffing, service providers, defense, security, construction, and more	Other Industries: manufacturing, printing, distribution, security, janitorial, welding, and more

Odessa, Texas

Odessa got its name because of homesickness. In the late 19th century, immigrants from Russia came in droves to work for the railroad. The scenery especially reminded them of Odessa, Ukraine. They looked at the short grasses and they thought of home. Their descendants must have thought of Russia as well.

But it is safe to think that Odessa, as one of the fastest growing small cities in the US according to Forbes, is so livable nowadays that anyone, with Russian blood or without, can call it home. It’s good to note that Odessa’s city symbol is the jackrabbit.

History

In 1881, the trains using the Texas and Pacific Railway stopped at Odessa for water and to ship cattle. Cattle ranching has always been part of the city’s economic activities and it persists even in the second decade of the new millennium.

Odessa earned a seat in Ector County in 1891. It became a city in 1921. To encourage young boys not to drop out of school, the town inspired them to play football in 1923. This proved beneficial then but also for the future when the Texas high school would earn football championships several times. Today, the football program is one in which a lot of boys would like to get into.

Because of oil, people went and settled in the city causing a rise in its population. The oil reserves have an interesting history. They are said to be the products of plants and animals that decayed even before the advent of dinosaurs.

Even President George W. Bush and his family once resided in Odessa in 1948 because of the commercial opportunities brought by the oil boom.

Geography and Climate

Odessa, Texas is in West Texas. Most of the area is part of Ector County. A small part is within Midland County. Its land area is 43.9 square miles. The highest elevation is 2,900 feet. It has sunny summers and mild winters. The area that has bolstered its economic reputation is known as Permian Basin. The name refers to the oil and gas deposits that can be found there. Since it has contributed so much to the city, it even has an annual show called Permian Basin International Oil Show.

Economy

Oil is the major industry in the city as it has considerable reserves of this resource. Industries related to oil are also therefore present and are major sources of city revenue and employment. However, since the price of oil is quite unpredictable, the city government has exerted efforts in getting other industries to invest in the city as well.

It has succeeded, so far. Big companies like Coke and Family Dollar are already familiar business presences in Odessa. It has explored other sources of energy like wind power and nuclear energy.

Top Employers and Their Products/Services

As of 2016, the following private companies have the most number of employees in Odessa, Texas:

• Saulsbury Companies: electricity and construction
• Halliburton: oil and gas
• Walmart: retail and grocery
• Weatherford: oil and gas
• Odessa Regional Medical Center: medical services

Industries with the Most Employees

Of the non-agricultural industries, these have the most number of people employed: government and information, services, retail and wholesale trade, mining and construction, and manufacturing.

Unemployment Rate, Cost of Living, and Real Estate

At 2.8 percent, the unemployment rate is much lower compared to the national rate which is 6.3 percent. The cost of living is also 6 percent lower than the national rate. Homes have appreciated by 10 percent as of 2016. The average house costs $171,300.

Education

The most prominent educational institution in Odessa is the University of Texas of the Permian Basin (UTPB). It made the news for its online graduate course in English for being cost-effective.

Noted for its medical programs is Texas Tech University Health Center. It has a school of medicine, school of allied health (that offers a graduate degree in physical therapy) and a school of nursing, among others. Its clinics are patronized by the community.

There are private and public schools for primary and secondary education.

Media

There are over 30 radio stations and the programs are very varied, from religion to music of almost all genres. There are eight full-powered local television stations. Odessa American is its main daily newspaper.

Places to See

The Odessa Meteor Crater is one of the largest meteor craters in the US. It is in the Permian Basin District. Meteorites were excavated from it and some of them are displayed in museums. It is a National Natural Landmark. Lots of tourists flock to see it. A trail is established around the area for easy access.

The Stonehenge Replica located at the campus of the University of Texas of the Permian Basin replicates the one that can be found in England in terms of shape and size. While the original took 2000 years to make, the replica just took two weeks.

The Presidential Archives and Leadership Library is also in UTPB. As its name suggests, it contains a lot of documents about the country’s highest position. It also features an impressive miniaturized White House, with astonishing little details. The additional bonus is literature on some of the defeated presidential hopefuls.

The Ellen Noel Art Museum, also at UTPB, does not just show art exhibits. It is also committed to art education in Odessa and nearby areas by giving workshops and art classes for different ages.

The White-Pool House is the oldest structure that still exists in Odessa. It has retained much of the original outdoor and indoor look, thanks in large part to careful restoration. It is included in the National Register of Historic Places. Visitors are welcome to explore the house.

The Parker Ranch House Museum is a restored headquarters of a ranching family. Its exhibit will give you a good idea of what it was like to be a rancher in earlier times.

Ector County Coliseum can seat more than 5,000 people. It is a venue for sporting events like rodeos, hockey, and football, of course. A fair is held each year in this arena.

The Ector Theatre was once a movie house. Now, it is a venue for live performances and other cultural events. With 700 seats, it still looks like a movie theatre in the past.

MCM Grande Hotel and Fundome promise affordable luxury, with plenty of freebies like breakfast and evening drinks.

Permian Basin International Oil Show

The Permian Basin International Oil Show celebrates the oil reserves that are so much part of the city’s history. Twice a year, oil company executives and workers gather together to celebrate the oil industry and exhibit new technologies related to it.

Odessa Celebrities

Country music star Larry Gatlin, actress Kim Smith, comedian Stephanie Weir, professional football player Roy Williams, and author Raymond Benson are some of the famous people that came from Odessa, Texas.