New Century Financial Re‑Partners with Oilfield Services Company Through $4MM Credit Line

New Century Financial (“New Century”) provided a $4 million accounts receivable line of credit to a Texas‑based oilfield services company with long‑standing contracts among major operators in the Oil & Gas sector. 

This long‑standing, reputable company provides multiple essential services that support operations across the oilfield landscape. When challenges with a secured party lender led to delays and operational constraints, the company returned to New Century, relying on the expertise, responsiveness, and proven ability to coordinate quickly that they had experienced with us before. 

Our onboarding and operations team efficiently aligned all moving pieces including coordinating with multiple key debtors and navigating issues and delivered the new facility in a remarkably short timeframe.   

“Our relationship with this client goes back years, and we understand the demands of their industry and the importance of reliable cash flow,” said Nel Somarriba, President of New Century Financial. “When they needed a partner who could step in and execute quickly, we were ready.” 

The $4MM credit line provides the working capital needed to support rising demand from major O&G customers, maintain operational stability, and fuel continued growth. 

This transaction highlights New Century’s commitment to being a trusted leader in the factoring industry, providing relationship‑centered solutions that help businesses grow with confidence.