Product: Factoring Line
Funding Line Amount: $ 300,000
Company Type: Oil & Gas Services
Industry Type: Oil & Gas Industry
A Mexican company incorporated in 1982, it offers its services to various multi-national companies in the Oil & Gas industry. The company provides local solutions for drilling & completion fluids in the Gulf Coast of Mexico, where it is conveniently located. It has a strong presence in the local market and has demonstrated knowledge with bidding protocols, which has allowed it to win several multi-year contracts.
Most oil and gas clients demand longer payment terms when signing contracts with them. Long payment terms are standard in this industry, making it hard for oilfield service providers to keep steady cash flow. Although the company has many ongoing projects with multi-national companies, it is facing challenges due to the extended payment terms and high demand for their services.
This company has a highly skilled and experienced team that has over 35 years providing solutions in the area of drilling oil wells. Their customers are large companies with good reputations in the market, which leaves very little doubt regarding their payment capacity. ExpoCredit also took into consideration that the company’s EBITDA is broad enough to cover the expenses generated for our factoring facility and approved the funding line.
ExpoCredit helped this company increase payment terms to its primary customer.
ExpoCredit is helping this company with the working capital needed to manage seasonality
ExpoCredit helped this company to have the working capital needed to operate according to its demand