Baker Garrington Announces Three Recent Deals

Funding announcements from Baker Garrington —

Oilfield Trucking: Provided a $500,000 factoring facility to a water hauling company operating in New Mexico and Texas to support payroll and fund continued growth.

Established in 2022, the company provides both fresh water and saltwater disposal (SWD) hauling services. Customers had been asking them to take on more volume, but the working capital to support that growth wasn't there yet. A good problem to have, but a real constraint without the right funding in place.

As part of the process, we identified two existing UCC filings on the business and worked through having them terminated, clearing the way for a clean facility. The underlying collateral was straightforward for the sector: signed, stamped, and coded field tickets, and the company's customer base was strong and creditworthy, which made this a straightforward one to get comfortable with.

With the facility in place, the company can keep trucks moving and take on the additional volume their customers are asking for. They've also been added to our fuel card program for additional savings at the pump.

Oilfield Services: Provided a $250,000 factoring facility to a startup pump services company based in Texas, providing pump parts sales, repair, and maintenance services to oil & gas companies.

As a new company, the biggest hurdle was simply getting started. Building a track record and cash flow foundation from scratch while continuing to bring on more work. Strong credit behind their debtor, with Open Invoice access to verify activity, gave us the confidence to move forward.

With funding now in place, the company is positioned to keep taking on new business as it builds momentum.

Oilfield Services: Provided a $250,000 factoring facility to a specialized contract labor and personnel company serving the oil & gas industry, based in Wyoming.

Established in 2019, the company provides skilled contract labor to O&G operators, but like a lot of staffing companies, net payment terms from clients meant payroll deadlines didn't always line up with when they actually got paid. Keeping payroll funded and on time was the core challenge driving the need for a facility.

One factor we worked through in underwriting was a concentration with a single debtor. We got comfortable through our standard verification process, and combined with a sector we know well, it made for a straightforward path to approval.

With the facility in place, the company now has the flexibility to keep payroll funded on time, regardless of when client payments land.