A hydration oil field company based in Texas needed funding for growth but had been turned down for bank financing. Unlike banks, Millennium Funding relies on the creditworthiness of a company’s debtors, not their balance sheet. We provided a $600,000 Accounts Receivable Funding facility to help them expand into new territory. They’re now gushing with new business.
A new directional drilling company in Texas needed working capital to fund operations and expansion. They asked colleagues for recommendations and Millennium rose to the top of the list due to our deep experience in the oilfield services industry, as well as our reputation for exceptional client service. We were happy to put our experience to work for them with a $50,000 Accounts Receivable Funding facility so they could start strong and dig for success.
A North Dakota conglomerate of oil industry executives joined together to form a new company addressing flow-back in oilfields. They needed working capital for growth and turned to Millennium Funding for a flexible off-balance sheet financing solution. We structured a $3,500,000 Accounts Receivable Funding facility to provide the flexibility they needed to manage working capital more efficiently, enhance their liquidity and take their business to the next stage.