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Accounts Receivable Financing and the Oil/Gas Supply Industry
Christi Craddick, Texas’ top energy regulator, knows the cyclical nature of the oil and gas industry. Oil and gas represent 40 percent of the state’s economy. Additionally, producers supplied a record $15.7-billion in the state, local taxes and royalties in 2014.
“We don’t know yet” how hard the state will be hit, Ms. Craddick said in an interview at the Texas Railroad Commission in Austin. “But Texas is well-positioned to weather the storm specifically because we have the infrastructure, because of our consistent good regulatory climate, and our excellent business climate.”
Accounts Receivable Financing and the Oil/Gas Supply Industry
Accounts receivable financing is perfect for oil/gas suppliers to weather the storm. When banks are no longer lending or providing financing factoring companies step in. A factoring company helps businesses go beyond banks limited credit lines and inject their company with working capital fast and efficiently.