Within a few hours, we had a written proposal and agreed to move forward. We completed it and send it back to them right away. Within a matter of minutes, we received the Factoring Application via email. There's none of the typical back and forth with sales reps or other folks with fancy titles who always make all sorts of promises that the underwriters can never keep. The application and underwriting process was extremely fast, simple, and painless, since we spoke directly with one of the owners of MFS and all decisions are made quickly and by the owners. We called MFS, and after a short phone call on a Monday morning, they agreed that we would benefit from an invoice factoring facility to improve our cash flow. However, one of them actually referred us to MFS in Florida. Some did not even want us – because we were “too small” for them. Though transportation, trucking, freight, and oil & gas are dominant industries in Houston, you can find invoice factoring companies that serve other industries as well.We had heard about invoice factoring as a potential solution to the “slow-paying-customer-syndrome” before, but the companies advertising these services turned out to be too impersonal and too inflexible for our taste. So if you are looking for an invoice company that specializes in oil & gas and freight factoring or one that provides factoring receivable services to a range of industries, Houston likely offers what you are looking for. Invoice Factoring Options as Big as Houston Itself Oil & gas and transportation industries often work together as trucks and rail carts work to carry the oil itself as well as the extensive gear that is needed for the fracking or drilling process. Similar to transportation and freight, the oil and gas industry requires numerous, high cost assets and expenses, including fracking and drilling equipment, pipelines, workers’ payroll, permits, and more. The region is home to more than 3,500 energy businesses. The city and surrounding area houses nearly a third of the nation’s energy exploration and production companies. Oil & gas are big business in Houston and oil & gas factoring keep finances as liquid as the product. Oil & Gas Factoring Power Drilling, Fracking Trucking is generally a thin margins industry so business owners are continuously wrestling with cash flow and working capital issues to stay ahead. Consider the expenses of owning and maintaining a fleet of trucks, fuel, truck drivers’ payroll, and more. The administration costs of trucking and freight businesses in Houston are high. Supporting these forward-driving enterprises are a range of commercial finance companies offering traditional and alternative funding options such as freight bill factoring and account receivables financing for businesses at every stage. Houston is one of the nation’s largest transportation hubs from freight rail carriers to 18-wheel trucks. On the Move with Trucking, Transportation and Freight Factoring in Houston
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