US$5m factoring facility from nFusion Capital helps support oil & gas industry

nFusion Capital, a working capital financing solutions provider for small and middle-market businesses, has announced a US$5 million accounts receivable financing facility for a Texas-based industrial services contractor supporting the oil and gas industry.

The financing will provide immediate working capital, allowing the Company to reduce delinquent tax liabilities, secure new projects, and strengthen its position for long-term growth.

The contractor specialises in scaffolding, insulation, fireproofing, painting, coatings and linings, abrasive blasting, and related project management services for major energy companies. Its customer base includes Chevron and other multinational oil and gas operators. The Company offers a single-source delivery model that encompasses planning, procurement, execution, and project completion under one point of contact.

Like many in the industry, the business was hit hard by COVID-related disruptions and delayed customer payments. To retain its skilled workforce during the downturn, it prioritised payroll obligations over tax remittances, leading to a multi-million-dollar liability.

Referred by its tax advisor, the Company partnered with nFusion Capital for a flexible solution. In addition to structuring the US$5 million facility, nFusion advised the business on engaging a payroll and tax partner to improve receivables management and compliance processes.

“We focus on the management team’s experience, the Company’s customer base and performance, market position, and future potential. With improved back-office processes and a reliable long-term partner, the owners can focus less on payroll pressures and more on growth.”

Since closing the facility, the contractor has reduced its tax lien, added new projects, and fortified its foundation for sustainable expansion.