BURNSVILLE, MN--(Marketwire - Feb 11, 2013) - TCI Oilfield Factoring, a leading provider of factoring services in the US, is proud to announce the continued expansion of its Texas Oilfield Factoring division. Mandi Groda, Senior Vice President, Business Development Officer, and top sales performer, will be operating out of the Houston office.
"Mandi Groda is a seasoned veteran with over 14 years' experience in the oil industry. She understands the oil business; I am excited to have her join our already strong presence in Texas. We are confident that Mandi will play an important role in our continued expansion in the Eagleford Shale, Barnett Shale, and Permian Basin areas," said Kraig Gunwall, Senior Vice President of Sales.
"I am so excited to be part of the TCI family. I look forward to providing TCI's working capital solutions to my existing customers and to other oilfield service companies throughout Texas," said Mandi Groda.
"We have a great deal of experience and understand the challenges associated with operating an oilfield service company in Texas," said Kraig Gunwall, Senior Vice President of Sales. "Today, 30- to 90-day pay terms are common. These long pay terms create cash flow stress and make it difficult for oilfield service companies to meet their working capital needs. Our 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."
TCI provides its oilfield factoring programs 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. Lines range from $50k to $20 million.
About TCI Oilfield Factoring
TCI Oilfield Factoring is the oilfield factoring Division of TCI Business Capital, a nationwide privately held financial services company founded in 1994 by its CEO, Daniel Robbins. The company is headquartered in the Minneapolis/St. Paul suburb of 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.