If you run trucking, logistics, or any type of transportation business, you know how vital cash flow is. We are deeply rooted in this sector, and have been able to come out the other side but still need help. That is why we have partnered with some of the top money in the sector to make sure when we need cash quickly or when our clients need cash for payroll, Accounts receivable, or related business needs to keep things moving. OFactoring can meet most demands but we have several special programs in the Oil and Gas Industry.
FAST CASH ADVANCE PROGRAM

This is designed for most companies’ needs (if you are in the oil and gas industry or adjacent see FACTORING below)
How does trucking cash advance work?
EXAMPLE: How Factoring Works with a 1.65% Rate:
- Invoice Submission: The trucking company submits its outstanding invoices to the factoring company.
- Advance Payment: The factoring company pays the trucking company a percentage of the invoice value upfront (often 80-90%). The remaining amount (minus the factoring fee) is paid after the customer pays the invoice.
- Factoring Fee: The factoring company charges a fee for this service, typically expressed as a percentage of the invoice value. In this case, a 1.65% rate means that for each invoice factored, 1.65% of the invoice amount is kept by the factoring company as their fee.
- Collection: The factoring company takes on the responsibility of collecting payment from the customer.
- Remaining Payment: Once the customer pays the invoice in full, the factoring company releases the remaining balance to the trucking company, minus the 1.65% fee.
Example:
- Invoice Amount: $10,000
- Factoring Fee (1.65%): $165
- Initial Advance (90%): $9,000 upfront
- Final Payment: When the customer pays the $10,000, the factoring company releases the remaining $835 ($10,000 – $9,000 already paid – $165 fee).
This arrangement allows trucking companies to maintain cash flow for fuel, maintenance, and other expenses without waiting for customers to pay their invoices, at the cost of a small percentage fee.
How does the standard application work?
To get approved for factoring in the trucking industry, you generally need to follow these steps:
1. Research and Choose a Factoring Company
- Look for a reputable factoring company that specializes in the trucking industry.
- Compare rates, terms, and customer reviews to find a suitable match.
2. Application Process
- Complete the Application: Fill out an application form provided by the factoring company. This form typically asks for basic business information, such as company name, contact details, and revenue.
- Submit Documentation: Provide necessary documentation, which might include:
- Business registration and ownership proof.
- Copies of recent invoices to be factored.
- Contracts or agreements with clients (if applicable).
- A list of customers and their contact information.
- Financial Information: Some factoring companies may request bank statements or proof of financial history to evaluate the health of your business.
3. Credit Check on Customers
- Factoring companies assess the creditworthiness of your customers, as the approval relies more on your clients’ ability to pay than your company’s credit rating.
- The factoring company will conduct due diligence to make sure your customers are reliable payers.
4. Review and Approval
- The factoring company reviews your application and supporting documents.
- If approved, they will outline the terms, including the factoring rate, advance rate, and any other fees or conditions.
- This process usually takes a few days to a week, depending on how quickly you provide the required information.
5. Sign the Factoring Agreement
- Once terms are agreed upon, you sign a contract that details the terms of service, fees, and your obligations.
- Make sure to read the agreement carefully and understand any penalties, cancellation policies, or hidden fees.
6. Submit Invoices for Factoring
- After the contract is signed, you can start submitting invoices to the factoring company.
- Ensure that the invoices you submit meet the factoring company’s criteria (e.g., no liens or disputes).
7. Receive Your Advance
- The factoring company processes the invoices and provides an advance payment (usually 80-90% of the invoice value).
- You’ll receive funds within 24-48 hours of invoice submission, depending on the company’s policies.
8. Ongoing Management
- The factoring company manages the collection process and communicates with your customers regarding payment.
- Once the customer pays the invoice, the factoring company releases the remaining balance to you, minus the agreed-upon fee.
Key Points to Remember:
- No Long-term Commitment: Some factoring companies offer non-recourse factoring (they absorb the risk of non-payment) while others provide recourse factoring (you’re responsible for non-payment).
- Fees: Understand if the 1.65% rate is flat (applies once) or tiered (increases over time if invoices remain unpaid for extended periods).
- Additional Charges: Be aware of any extra fees like wire transfer fees, monthly minimums, or account maintenance fees.
This process helps ensure that your application is smooth and that you can start receiving advances to support your trucking operations.

OFACTORING for TRUCKING COMPANIES
We have a special program that is designed to get you the cash you need quickly. If your invoice in from one of the following companies letterhead you are in luck. Just Upload and Get Funded (Must have an account set up)
SPECIAL OPPORTUNITY SERVICES FOR THE FOLLOWING (but not limited to) If they are Oil or oil adjacent just ask us; you still may qualify if they are not on this KNOW list:
# | Company Name | Headquarters Address | Revenue (in billions USD) |
---|---|---|---|
1 | Exxon Mobil Corp. | 5959 Las Colinas Boulevard, Irving, Texas, USA | $340.65 |
2 | Chevron Corp. | 6001 Bollinger Canyon Road, San Ramon, California, USA | $246.25 |
3 | Marathon Petroleum Corp. | 539 South Main Street, Findlay, Ohio, USA | $177.45 |
4 | Valero Energy Corp. | One Valero Way, San Antonio, Texas, USA | $176.40 |
5 | ConocoPhillips | 925 North Eldridge Parkway, Houston, Texas, USA | $70.00 |
6 | Phillips 66 | 2331 CityWest Boulevard, Houston, Texas, USA | $111.46 |
7 | Occidental Petroleum Corp. | 5 Greenway Plaza, Suite 110, Houston, Texas, USA | $37.00 |
8 | EOG Resources, Inc. | 1111 Bagby Street, Sky Lobby 2, Houston, Texas, USA | $25.00 |
9 | Pioneer Natural Resources | 777 Hidden Ridge, Irving, Texas, USA | $23.00 |
10 | Hess Corporation | 1185 Avenue of the Americas, New York, New York, USA | $12.32 |
Other Companies that we do cash advanced or sort special financing for with the following addresses on the invoice:
# | Company Name | Headquarters Address | Revenue (in billions USD) |
---|---|---|---|
1 | Exxon Mobil Corp. | 5959 Las Colinas Boulevard, Irving, Texas, USA | $340.65 |
2 | Chevron Corp. | 6001 Bollinger Canyon Road, San Ramon, California, USA | $246.25 |
3 | Marathon Petroleum Corp. | 539 South Main Street, Findlay, Ohio, USA | $177.45 |
4 | Valero Energy Corp. | One Valero Way, San Antonio, Texas, USA | $176.40 |
5 | Phillips 66 | 2331 CityWest Boulevard, Houston, Texas, USA | $111.46 |
6 | ConocoPhillips | 925 North Eldridge Parkway, Houston, Texas, USA | $70.00 |
7 | Occidental Petroleum Corp. | 5 Greenway Plaza, Suite 110, Houston, Texas, USA | $37.00 |
8 | EOG Resources, Inc. | 1111 Bagby Street, Sky Lobby 2, Houston, Texas, USA | $25.00 |
9 | Pioneer Natural Resources | 777 Hidden Ridge, Irving, Texas, USA | $23.00 |
10 | Hess Corporation | 1185 Avenue of the Americas, New York, New York, USA | $12.32 |
11 | Devon Energy Corp. | 333 West Sheridan Avenue, Oklahoma City, Oklahoma, USA | $15.49 |
12 | Anadarko Petroleum Corp. | 1201 Lake Robbins Drive, The Woodlands, Texas, USA | $13.40 |
13 | Apache Corp. | 2000 Post Oak Boulevard, Suite 100, Houston, Texas, USA | $7.40 |
14 | Noble Energy, Inc. | 1001 Noble Energy Way, Houston, Texas, USA | $4.40 |
15 | Murphy Oil Corp. | 300 Peach Street, El Dorado, Arkansas, USA | $2.80 |
16 | Range Resources Corp. | 100 Throckmorton Street, Suite 1200, Fort Worth, Texas, USA | $3.00 |
17 | Southwestern Energy Co. | 10000 Energy Drive, Spring, Texas, USA | $4.60 |
18 | Cabot Oil & Gas Corp. | Three Memorial City Plaza, 840 Gessner Road, Suite 1400, Houston, Texas, USA | $2.00 |
19 | EQT Corp. | EQT Plaza, 625 Liberty Avenue, Pittsburgh, Pennsylvania, USA | $1.50 |
20 | Chesapeake Energy Corp. | 6100 North Western Avenue, Oklahoma City, Oklahoma, USA | $9.00 |
21 | Halliburton Co. | 3000 North Sam Houston Parkway East, Houston, Texas, USA | $20.00 |
22 | Schlumberger Ltd. | 5599 San Felipe Street, Houston, Texas, USA | $28.00 |
23 | Baker Hughes Co. | 17021 Aldine Westfield Road, Houston, Texas, USA | $22.00 |
24 | Superior Energy Services | 1001 Louisiana Street, Suite 2900, Houston, Texas, USA | $1.20 |
25 | Weatherford International | 2000 St. James Place, Houston, Texas, USA | $3.60 |
26 | National Oilwell Varco | 7909 Parkwood Circle Drive, Houston, Texas, USA | $7.25 |
27 | TechnipFMC | 11740 Katy Freeway, Houston, Texas, USA | $13.00 |
28 | McDermott International | 757 North Eldridge Parkway, Houston, Texas, USA | $6.70 |
29 | Fluor Corp. | 6700 Las Colinas Boulevard, Irving, Texas, USA | $15.00 |
30 | KBR, Inc. | 601 Jefferson Street, Houston, Texas, USA | $5.80 |
31 | Jacobs Engineering Group | 1999 Bryan Street, Suite 1200, Dallas, Texas, USA | $14.00 |
32 | AECOM | 300 South Grand Avenue, Los Angeles, California, USA | $20.00 |
33 | Bechtel Corp. | 12011 Sunset Hills Road, Reston, Virginia, USA | $17.60 |
34 | Wood Group | 17325 Park Row, Houston, Texas, USA | $10.00 |
35 | WorleyParsons | 5995 Rogerdale Road, Houston, Texas, USA | $9.00 |
36 | Saipem America | 15950 Park Row, Houston, Texas, USA | $4.50 |
37 | Subsea 7 | 16201 East Freeway, Channelview, Texas, USA | $3.80 |
38 | Oceaneering International | 11911 FM 529, Houston, Texas, USA | $2.00 |
39 | Helix Energy Solutions Group | 3505 West Sam Houston Parkway North, Suite 400, Houston, Texas, USA | $0.80 |
40 | Transocean Ltd. | 1414 Enclave Parkway, Houston, Texas, USA | $3.00 |
41 | Diamond Offshore Drilling | 15415 Katy Freeway, Suite 100, Houston, Texas, USA | $1.00 |
42 | Ensco plc | 5847 San Felipe Street, Suite 3300, Houston, Texas, USA | $1.50 |
43 | Nabors Industries Ltd. | 515 West Greens Road, Suite 1200, Houston, Texas, USA | $3.00 |
44 | Patterson-UTI Energy, Inc. | 10713 West Sam Houston Parkway North, Suite 800, Houston, Texas, USA | $2.50 |
45 | Helmerich & Payne, Inc. | 1437 South Boulder Avenue, Suite 1400, Tulsa, Oklahoma, USA | $2.00 |
46 | Precision Drilling Corp. | 10350 Richmond Avenue, Suite 700, Houston, Texas, USA | $1. |
Sources
International Factoring for Trucking Business
We have a special program for US companies doing business internationally, but being paid by a oFACTORING list as well as a separate INTERNATIONAL PLAN PAYORS LIST:
Here is a list of the top 25 oil and gas companies, including their headquarters addresses:
# | Company Name | Headquarters Address |
---|---|---|
1 | Saudi Aramco | Dhahran, Eastern Province, Saudi Arabia |
2 | China Petroleum & Chemical Corp. (Sinopec) | 22 Chaoyangmen North Street, Chaoyang District, Beijing, China |
3 | PetroChina Co. Ltd. | 9 Dongzhimen North Street, Dongcheng District, Beijing, China |
4 | Exxon Mobil Corp. | 5959 Las Colinas Boulevard, Irving, Texas, USA |
5 | Shell PLC | Carel van Bylandtlaan 30, 2596 HR The Hague, Netherlands |
6 | TotalEnergies SE | Tour Coupole, 2 Place Jean Millier, La Défense 6, 92400 Courbevoie, France |
7 | Chevron Corp. | 6001 Bollinger Canyon Road, San Ramon, California, USA |
8 | BP PLC | 1 St James’s Square, London, SW1Y 4PD, United Kingdom |
9 | Marathon Petroleum Corp. | 539 South Main Street, Findlay, Ohio, USA |
10 | Valero Energy Corp. | One Valero Way, San Antonio, Texas, USA |
11 | Gazprom | 16 Nametkina Street, Moscow, Russia |
12 | Rosneft | 26/1 Sofiyskaya Embankment, Moscow, Russia |
13 | Eni S.p.A. | Piazzale Enrico Mattei 1, 00144 Rome, Italy |
14 | Equinor ASA | Forusbeen 50, 4035 Stavanger, Norway |
15 | ConocoPhillips | 925 North Eldridge Parkway, Houston, Texas, USA |
16 | Occidental Petroleum Corp. | 5 Greenway Plaza, Suite 110, Houston, Texas, USA |
17 | Repsol S.A. | Calle Méndez Álvaro, 44, 28045 Madrid, Spain |
18 | Petrobras | Avenida República do Chile, 65, Rio de Janeiro, Brazil |
19 | Lukoil | 11 Sretensky Boulevard, Moscow, Russia |
20 | Phillips 66 | 2331 CityWest Boulevard, Houston, Texas, USA |
21 | PTT Public Company Limited | 555 Vibhavadi Rangsit Road, Chatuchak, Bangkok, Thailand |
22 | Canadian Natural Resources Limited | 2100, 855 2 Street SW, Calgary, Alberta, Canada |
23 | Suncor Energy Inc. | 150 6 Avenue SW, Calgary, Alberta, Canada |
24 | Devon Energy Corp. | 333 West Sheridan Avenue, Oklahoma City, Oklahoma, USA |
25 | Hess Corporation | 1185 Avenue of the Americas, New York, New York, USA |

Programs for Alternative Needs
Ask us about the following hot topics:
- Ofactoring
- dynamic discounting solution
- early payment program
- factoring agreement
- diverse supplier certification
- petrochem field services cash planning
- cash management strategies
- payment terms with discount
- dynamic discounting software
Drilling Factoring
Factoring solutions for companies providing drilling services in the oil and gas industry.
Directional Drilling Factoring
Factoring services for businesses offering directional drilling expertise.
Well Logging Factoring
Factoring assistance tailored to providers of well logging services.
Casing and Cementing Factoring
Factoring solutions for companies involved in casing and cementing operations.
Hydraulic Fracturing Factoring
Factoring support for businesses offering hydraulic fracturing services.
Coiled Tubing Services Factoring
Factoring options for companies delivering coiled tubing services.
Mud Logging Factoring
Factoring tailored for businesses specializing in mud logging.
Reservoir Engineering Factoring
Factoring solutions for reservoir engineering service providers.
Pressure Pumping Factoring
Factoring support for companies offering pressure pumping services.
Seismic Surveys Factoring
Factoring for businesses conducting seismic surveys.
Perforation Services Factoring
Factoring assistance for companies providing perforation services.
Well Testing Factoring
Factoring support for businesses engaged in well testing operations.
Workover Services Factoring
Factoring solutions for companies performing workover services.
Completion Services Factoring
Factoring assistance for providers of well completion services.
Artificial Lift Systems Factoring
Factoring for businesses offering artificial lift system solutions.
Blowout Preventer Services Factoring
Factoring support for companies involved in blowout preventer services.
Pipeline Construction Factoring
Factoring solutions for businesses in pipeline construction.
Sand Control Factoring
Factoring services for companies specializing in sand control techniques.
Water Management Factoring
Factoring assistance for businesses handling water management in drilling operations.
Wireline Services Factoring
Factoring solutions for providers of wireline services in the oilfield industry.
Flowback Services Factoring
Factoring support for companies managing flowback services post-well completion.
Acidizing Factoring
Factoring options for businesses offering acidizing services to enhance oil flow.
Fishing Services Factoring
Factoring tailored for companies providing fishing services to retrieve wellbore equipment.
Fluid Engineering Factoring
Factoring solutions for businesses specializing in drilling and completion fluid engineering.
Well Integrity Testing Factoring
Factoring assistance for companies conducting well integrity testing to ensure safety.
Mechanical Well Services Factoring
Factoring support for providers of mechanical well services ensuring well functionality.
Stimulation Services Factoring
Factoring solutions for businesses offering well stimulation services to enhance permeability.
Top Drive Systems Factoring
Factoring options for companies providing advanced top drive systems for drilling.
Snubbing Services Factoring
Factoring tailored for businesses performing snubbing services under well pressure.
Coring Services Factoring
Factoring solutions for companies extracting core samples for reservoir analysis.
Rig Moving Services Factoring
Factoring assistance for businesses specializing in efficient rig moving services.
Flare Systems Factoring
Factoring support for companies providing flare systems to safely burn excess hydrocarbons.
Rig Maintenance Factoring
Factoring solutions for businesses offering rig maintenance to ensure continuous operations.
Drill Bit Manufacturing Factoring
Factoring options for companies producing specialized drill bits for efficient drilling.
Pressure Control Equipment Factoring
Factoring tailored for providers of pressure control equipment to manage well pressure.
Wellbore Cleaning Factoring
Factoring solutions for businesses removing debris and contaminants from wellbores.
Solids Control Factoring
Factoring assistance for companies managing and separating drilling solids from fluids.
Well Surveillance Factoring
Factoring support for businesses monitoring well performance using advanced