SOURCE: TCI Business Capital

TCI Business Capital

December 03, 2012 11:48 ET

TCI Business Capital Introduces New Factoring Service at Ohio Oil and Gas Expo

BURNSVLLE, MN--(Marketwire - Dec 3, 2012) - TCI Business Capital, a leading provider of oilfield factoring services, is proud to announce the release of their new factoring service lines specifically designed for oilfield service companies working the Utica and Marcellus Shales in Ohio, Pennsylvania and West Virginia.

"We are excited to present our new Oilfield Factoring Services on December 4th, 5th and 6th at the OOGA, Ohio Oil and Gas Expo in Cleveland Ohio," said Eric Schoch, Executive Vice President of TCI Business Capital.

"The industry is changing; the challenges for our customers in Ohio, Pennsylvania and West Virginia are increasing. Today, 30 to 90-day pay terms are common. These long pay terms make it difficult for oilfield service companies to meet their working capital needs. Our new oilfield factoring lines address these challenges by not only maximizing cash flow, but by greatly reducing the Accounts Receivable turn through increased efficiency in the billing process."

"Response to our new oilfield factoring programs is strong, especially in the banking community where line limits and compliance issues are common for Oilfield Service providers. Over the years we have built strong relationships with Bankers and more often than not, can find a win-win solution for everyone."

"With our new factoring service, we have streamlined the setup process and cut the red tape, now customers can be approved in 15 minutes or less. We offer our services to a wide range of oilfield service companies including; oilfield trucking, well servicing, pipeline, pad and road construction companies, rental and supply companies, disposal sites and more. We offer lines from 50k to 20 million."

About TCI Business Capital

TCI Business Capital is a nationwide privately held financial services company founded in 1994 and headquartered in Burnsville, Minnesota. TCI Business Capital provides a full range of business financial services including: accounts receivable management, collection services, credit analysis, factoring services, risk assessment, treasury and more. The company is proud to be recognized for its reliability, flexibility, responsiveness, innovative products, customer service, and exemplary corporate citizenship.

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