|Funding Size||$2,000 - $350,000+|
|Funding Terms||3 to 24 months*|
|Payment||Automatic daily debits from your business bank account / merchant account|
|Collateral||No personal collateral required. Pledge of only business assets|
|Timing||Your quote will arrive as fast as 24 business hours and money in your account as fast as 3 business days.|
|Eligible Business||Oil companies and over 200 other business types from accountants to doctors to construction, retail and manufacturing|
|Use of Funds||Can be used for most business purposes|
|* SBA programs with longer terms available for qualified applicants|
Business Funding For Oil Industry Companies
Oil industry businesses are found in many forms in today's highly active petroleum marketplace. From research to drilling to refining, clean up and transportation, the oil industry in the U.S. is growing at a rate unmatched in history. Several factors such as demand, competition and regulation create a high level of capital consumption in the process of running a successful oil industry business and many smaller operations need added cash resources to maintain their growth and competitiveness.
Traditional banks are typically hesitant to offer business funding for oil industry companies because of the high expense ratio in operating a small to medium sized business in this field. Costs for skilled labor, technical and specialized equipment along with registration and insurance expenses with virtually no guaranteed return add to the difficulty of obtaining financing for small businesses in the oil industry. Fortunately though, LendDeck.com offers an alternative financing source for your business and instead of looking at the risk and/or the credit score of the business owner, we look at the business itself and are able to offer funding based on the ability of the company operations and contracts to generate the cash needed to repay the funding. Funding amounts from $2,000 up to $350,000 are available with this kind of financing.
Small Business Funding - Requirements for oil industry business funding:
- The business may be either a public or private oil industry company, with proper approval from the state or federal government for its operations.
- The funding may be used for just about any needs including those related to the development of the industry, purchasing new machines and equipment, or acquisitions of new properties.
- The business should be established and operating for at least 4 months. (LendDeck.com does not fund startup businesses)
- Company cash flow from operations and or pending contracts should be verifiable with bank statements or other appropriate documentation.
The funding process is very quick and easy. Start by completing the short form at the top of this page and you will then be contacted by one of our funding specialists to complete the full process without the need for excessive paperwork. The documentation requirements are minimal and the entire process is significantly easier than most traditional bank funding. The funding process can typically be measured in days rather than the weeks or months it can take with conventional lenders. At LendDeck.com we specialize in many types of small business funding and are happy to include small business funding for oil industry companies in our portfolio of successful and satisfied clients. Please start your funding request now by completing the form at the top of the page.