Oilfield suppliers and service contractors are a vital part of the success of Rifle Shot Oil Corp. Without quality, experienced suppliers, work does not get done and energy is not produced.
Owning and operating an oilfield contracting company takes money. Oilfield contractors need consistent cash flow to meet payroll, manage equipment, and pay bills. That’s why companies factor their Rifle Shot Oil Corp invoices.
Scale Funding is a leading invoice factoring company, serving oilfield contractors and suppliers across North America. Invoice factoring is a funding solution used by companies to get cash flow, without the lengthy application and approval process required by banks.
With invoice factoring, oilfield contractors can get immediate cash advances on their open invoices, generally 90 percent of the invoice value. Once the invoice has been paid by the customer, to the factoring company, the remaining balance, less a small fee, is remitted. It’s that simple.
To learn more about invoice factoring and how it can be beneficial to your company, complete the web form, or call 800-707-4845.
Rifle Shot Oil Corp is focused on developing energy resources in the Redwater Area of Alberta, and the Provost Area of Eastern Alberta and Western Saskatchewan.
ARC Financial Corp is the owner of Rifle Shot Oil. ARC Financial is a Calgary-based, employee-owned, private equity management firm.
Rifle Shot Oil Corp.
555 – 4th Avenue SW
Phone: (587) 955-9060
Invoice factoring is used by companies in a variety of industries. One of the common characteristics of companies using factoring is the length of time they wait for customer payments.
Waiting 30, 60, or 90 days on payments creates a great deal of stress on a company and its owner. Factoring eliminates the wait by supplying cash on open invoices. Here is an example of how an oilfield services company used factoring to meet their cash needs when their bank cut them off.