Trucking and Transportation
The trucking industry operates on a fundamental cash flow contradiction — your costs are immediate, but your revenue is delayed. Fuel, maintenance, insurance, tires, permits, and driver payroll are due now. Meanwhile, freight brokers, shippers, and logistics companies routinely pay on 30- to 60-day terms. For local trucking companies operating in Oklahoma, that gap can be the difference between growing your business and struggling to keep up.
Hexagon Commercial Finance specializes in working with local Oklahoma trucking companies and their regional invoicing relationships. We understand the dynamics of local and intrastate freight, the relationships between carriers and local brokers, and the day-to-day financial pressures that come with keeping trucks on the road.
How Trucking Factoring Works With Hexagon
The process is designed to fit into your existing workflow, not disrupt it. Once your account is established, here is how a typical transaction works:
You complete a load and generate an invoice to your broker, shipper, or freight customer. Rather than waiting 30 to 60 days for payment, you submit that invoice to Hexagon along with supporting documentation — typically a signed bill of lading or proof of delivery.
We verify the load and the receivable with your customer, then advance up to 95% of the invoice value directly to your account, usually within 24 to 48 hours. You have cash in hand to fuel your next load, pay your drivers, and cover operating expenses without missing a beat.
When your customer pays the invoice in full, we remit the remaining balance to you minus a small factoring fee. The entire cycle aligns with how your business already operates — load by load, invoice by invoice.
Why Local Trucking Companies Choose Hexagon
If you operate a large over-the-road fleet running freight across the country, there are well-known national factoring companies that specialize in high-volume, long-haul operations. They've built their business around that model and they do it well.
But if you're a local or regional carrier operating in Oklahoma — running shorter routes, working with local brokers, and building your business one relationship at a time — your needs are different. And so is the kind of factoring partner that makes sense.
National factors process thousands of transactions a day. They move fast and they move at scale. But that scale often means your account is one of many, and the personal attention that a smaller operation needs can get lost in the volume. If your invoicing is modest or your business is still growing, you may not be a priority in their portfolio.
Hexagon is built for a different kind of relationship. We're based in Oklahoma and we work almost exclusively with Oklahoma businesses. We take the time to know your operation, your customers, and your cash flow patterns. When you call, you talk to someone who knows your name and your business.
For owner-operators and small fleet companies that want a factoring partner who is genuinely invested in their success, that level of attention makes a meaningful difference. We may not be the right fit for a 200-truck national carrier — but for the local trucking company that wants a financial partner, not just a funding source, Hexagon is built for you.
Oil and Gas Services
Oklahoma's energy industry is one of the most complex and demanding operating environments in the state. It spans upstream exploration and production, midstream pipeline and processing infrastructure, and downstream refining and distribution — and at every stage, a network of service companies, vendors, and contractors keeps the work moving. The financial demands are front-loaded, the payment timelines are long, and the risks are compounded by commodity price volatility that can shift the landscape overnight.
Factoring in the oil and gas sector is not a one-size-fits-all proposition. The receivables, the contract structures, and the debtor relationships vary significantly depending on where your company operates within the energy value chain. Hexagon understands these distinctions and structures its factoring arrangements accordingly.
Factoring Across the Energy Value Chain
In the upstream segment, service companies providing equipment rental, well services, roustabout crews, site preparation, water hauling, and specialized staffing often carry receivables with 30- to 90-day payment terms from operators and E&P companies. The work is project-driven and the cash flow demands are immediate — crews, fuel, and equipment don't wait for an operator's accounts payable cycle.
In the midstream segment, the receivables landscape shifts toward construction, progress billings, pipeline services, and time-and-materials contracts. These engagements often involve larger invoices, longer project timelines, and more complex billing structures that require a factor who understands how to evaluate and advance against progress-based receivables.
In the downstream segment, staffing and time-and-materials arrangements are common, with service providers supporting refinery operations, turnarounds, and maintenance cycles. Payment terms can be extended and the invoicing can be layered with multiple line items and approval requirements.
Trucking touches all three segments — hauling equipment, materials, water, sand, and product across upstream, midstream, and downstream operations. The cash flow pressures on energy-related trucking companies mirror those of the broader transportation industry but carry the added complexity of operating within the energy sector's unique payment and contract structures.
Navigating Master Services Agreements and Debtor Dynamics
Many oil and gas service relationships are governed by master services agreements, which can introduce additional considerations when factoring receivables. Some larger operators include provisions in their MSAs that restrict or discourage the assignment of invoices to a third party. In certain cases, an operator may push back on the factoring of their invoices or suggest that doing so could affect the service relationship.
Hexagon approaches these situations with the judgment and discretion that comes from decades of financial experience. We evaluate each debtor relationship individually, assessing the creditworthiness of the operator, the strength of the receivable, and the practical dynamics of the client relationship. In many cases, we are willing to factor invoices from these debtors up to an appropriate level based on our assessment of the overall risk — because we understand that restricting your access to capital over a contractual preference that rarely results in actual consequences is not in your best interest.
This requires a factor who understands the nuances of energy-sector relationships, not one who simply declines any invoice that presents a complication. Hexagon is built to navigate these situations thoughtfully.
The Commodity Price Factor
What makes energy-related factoring fundamentally different from factoring in most other industries is the ever-present influence of commodity prices. When oil and gas prices are strong, activity surges — service companies hire, expand, and take on new contracts. When prices decline, operators cut budgets, delay payments, and reduce activity. This cycle is inherent to the industry and it directly impacts the credit risk, payment behavior, and overall health of the receivables being factored.
This volatility demands a factor who monitors market conditions, adjusts credit exposure proactively, and maintains a long-term perspective on client relationships through both up and down cycles. Hexagon watches these trends closely and works with our clients to manage their factoring facilities in a way that accounts for the realities of operating in a commodity-driven business. We don't disappear when the market tightens — we adjust and stay engaged.
Why Oklahoma Oil & Gas Service Companies Work With Hexagon
The energy business in Oklahoma is relationship-driven. Operators, service companies, and vendors often work together across multiple projects and over many years. You need a financial partner who understands those dynamics — not one who treats your industry as just another vertical in a national portfolio.
Hexagon is based in Oklahoma and built to serve Oklahoma businesses. We understand the cyclical nature of the energy sector, the seasonal fluctuations in activity, the contract structures that govern service relationships, and the payment patterns that are unique to this industry. We also understand that oilfield service companies range from one-truck operations to multi-crew enterprises, and we structure our factoring arrangements to fit your scale and your specific situation.
Whether you're providing upstream field services, midstream construction support, or downstream staffing, Hexagon brings the industry knowledge and financial discipline to factor your receivables with confidence — in any market environment.
Staffing and Employment Services
Staffing companies operate with a built-in cash flow challenge that most other industries don't face. You pay your employees weekly — sometimes even daily — but your clients pay you on 30-, 60-, or even 90-day terms. Every new placement and every new contract widens that gap. The more successful you are at growing your business, the more pressure it puts on your cash flow.
This dynamic makes staffing one of the most natural fits for accounts receivable factoring. The receivables are predictable, the invoicing is recurring, and the need for immediate working capital is constant. Factoring allows staffing companies to meet payroll obligations on time, every time, without borrowing against the future or turning away new business because the cash isn't there yet.
How Factoring Works for Staffing Companies
The process integrates directly into your weekly billing cycle. After you invoice your client for hours worked — whether on a temporary, temp-to-hire, or contract basis — you submit that invoice to Hexagon along with supporting documentation such as approved timesheets or time-and-materials reports.
We verify the receivable with your client, then advance 80–90% of the invoice value directly to your account, typically within 24 to 48 hours. You use those funds to cover payroll, payroll taxes, workers' compensation, benefits, and other operating expenses. When your client pays the invoice in full, we remit the remaining balance to you minus a small factoring fee.
Because staffing invoices are generated on a regular cycle — weekly or biweekly in most cases — factoring becomes a seamless, ongoing part of your cash flow management rather than a one-time transaction. The rhythm of your funding matches the rhythm of your business.
The Payroll Pressure That Makes Factoring Essential
Unlike most industries where expenses can be managed or deferred, payroll is non-negotiable. Your employees expect to be paid on time, and the legal and reputational consequences of missing payroll are severe. Payroll taxes, workers' compensation premiums, and benefits costs compound the obligation further.
For a growing staffing company, this pressure intensifies with every new account. Landing a large new client should be a reason to celebrate — but without adequate working capital, it can actually create a crisis. You're suddenly covering payroll for dozens of new placements while waiting weeks or months for your client to pay. Traditional bank financing may not move fast enough, and taking on debt to fund payroll creates its own set of risks.
Factoring eliminates this tension. Your funding scales automatically with your invoicing volume. As you place more workers and generate more invoices, your access to working capital grows proportionally. There is no need to renegotiate a credit line or submit a new loan application — the facility expands as your business expands.
Why Oklahoma Staffing Companies Work With Hexagon
National factoring companies that specialize in staffing often focus on large, multi-location agencies with millions in monthly receivables. If you're a local or regional staffing firm serving the Oklahoma market — placing light industrial workers, administrative staff, skilled tradespeople, or oilfield personnel — your volume may not command their full attention.
Hexagon is built for Oklahoma businesses at every stage of growth. Whether you're placing ten employees a week or two hundred, we structure a factoring facility that fits your current scale and adjusts as you grow. We take the time to understand your client relationships, your billing cycles, and the industries you serve so we can provide funding that actually aligns with how your business operates.
Staffing is a relationship business — both with your clients and with your financial partners. Hexagon is designed to be the kind of partner that picks up the phone, knows your business, and moves at the speed your payroll cycle demands.
Construction and Skilled Trades
The construction industry operates on long payment cycles that are largely outside your control. General contractors pay subcontractors when they get paid by the owner. Owners pay when the lender releases funds. Retainage holds back a percentage of every invoice for months — sometimes until the entire project is complete. The result is a chain of delayed payments that puts the greatest financial pressure on the companies doing the actual work.
Whether you're a plumbing contractor, an electrical subcontractor, an HVAC company, a concrete crew, or a general trades firm, your costs don't wait for the payment chain to catch up. Materials need to be purchased for the next job. Crews need to be paid every week. Equipment leases and insurance premiums come due on a fixed schedule. Factoring gives construction companies a way to access capital they've already earned rather than waiting on the payment chain to work its way down to you.
Why Construction Factoring Requires Specialized Expertise
Construction factoring is among the most complex and paperwork-intensive forms of receivables financing. Unlike a straightforward product invoice where goods are shipped and a bill is sent, construction billing involves progress invoices tied to percentage of completion, time-and-materials documentation, change orders, retainage provisions, lien waivers, pay applications, inspection approvals, and proof of materials delivery. Every invoice carries its own set of supporting documentation, and each project has its own contract terms, payment structures, and approval workflows.
This complexity is why many general factoring companies either avoid construction receivables entirely or price them at a steep premium. They lack the experience to evaluate the paperwork, assess the risks, and understand the payment dynamics that are standard in this industry.
Hexagon's leadership spent over 30 years inside the banking system, including extensive involvement in construction lending. That background means we understand how construction projects are structured, how money flows from lender to owner to general contractor to subcontractor, and where the risks and bottlenecks live at every stage. We read pay applications, evaluate contract terms, and assess project risk with the same discipline we applied in a banking environment — because that's where we learned it.
How Factoring Works for Construction Companies
You complete a phase of work and submit a progress invoice or completed-work invoice to the general contractor or project owner. You then submit that same invoice to Hexagon along with supporting documentation — which may include a signed pay application, lien waiver, inspection approval, change order documentation, or proof of materials delivery.
We review the documentation, verify the receivable, and advance 70–85% of the eligible invoice amount directly to your account, typically within 24 to 48 hours. Advance rates in construction tend to be lower than in other industries, and there's a good reason for that — construction receivables carry a higher risk of disputes, change orders, backcharges, and payment delays that require a more conservative approach to protect both the factor and the client.
When the general contractor or owner pays the invoice, we remit the remaining balance to you minus a small factoring fee. The process repeats with each new invoice, providing ongoing working capital tied to the work you're performing.
Because construction invoicing is complex and each project is different, Hexagon prioritizes having a thorough understanding of your contracts, your customers, and your billing structure before the first invoice is funded. This upfront investment in understanding your business is what allows us to move quickly and confidently once the relationship is established.
Understanding Retainage and How It Affects Factoring
Retainage is one of the most significant cash flow challenges in the construction industry. On most commercial and public projects, the general contractor or owner withholds 5–10% of each progress payment until the project reaches substantial completion or final closeout. That money is yours — you've earned it — but it's locked up for the duration of the project, which can span months or even years.
It's important to understand that retainage is typically not factorable while it's being held. The receivable isn't yet due and payable, so it doesn't qualify for an advance. However, factoring the non-retained portion of each progress invoice — the 90–95% that is due upon approval — can dramatically improve your cash position and reduce the sting of retainage by keeping the rest of your working capital flowing consistently.
Once retainage is released at project completion, those receivables may become eligible for factoring as well, depending on the terms and timing. Hexagon will work with you to understand your specific contract structures and identify exactly which receivables are eligible at each stage of a project.
Lien Rights and Factoring Considerations
Construction is one of the few industries where your right to get paid is protected by mechanics' lien statutes. These lien rights give subcontractors and material suppliers a legal claim against the property if they aren't paid for their work. However, factoring can interact with lien rights in ways that require careful attention.
Many general contractors require lien waivers — either conditional or unconditional or both — as part of the pay application process. A conditional waiver releases your lien rights only upon receipt of payment. An unconditional waiver releases them immediately. When factoring construction receivables, it's important that lien waivers are handled properly so that your rights are protected while the invoice is still outstanding.
These are the kinds of details that require a factor with real construction industry knowledge — and relationships with legal and risk professionals who specialize in construction. Hexagon has those relationships and brings them to bear on every construction factoring arrangement we structure.
Managing Invoice Aging in Construction
Construction projects typically operate on a regular draw schedule — often weekly or monthly — with payment expected within 30 days of an approved pay application. Unlike other industries where 60- or 90-day payment terms are standard, an invoice that ages significantly past 30 days in construction is not a normal payment cycle — it's a warning sign. It may indicate a dispute over the work performed, a problem with the project itself, a stalled approval process, or financial distress further up the payment chain.
This is exactly why construction factoring requires close monitoring and an experienced eye. Hexagon tracks the status of every funded receivable and maintains regular communication with our clients about the progress of their projects and the payment behavior of their customers. When an invoice begins to age beyond the expected cycle, we work with you to identify the cause and determine the appropriate course of action — whether that means pausing additional advances against that debtor, adjusting the facility structure, or simply waiting for a known administrative delay to resolve itself.
The key is recognizing the difference between a temporary procedural delay and a genuine payment problem. That judgment comes from experience — and from knowing the project, the parties, and the local market well enough to make the right call.
Managing Invoice Aging in Construction
In many industries, an invoice that ages past 60 days is a yellow flag. In construction, extended payment timelines are a reality of the business. However, there is an important distinction between an invoice that is aging within the normal payment cycle of a project and one that is aging because of a dispute, a stalled project, or a financially distressed debtor.
Hexagon monitors the aging of every receivable in our portfolio closely. While we understand that construction payments often move more slowly than in other industries, we also recognize that invoices consistently aging beyond 60 to 90 days can signal problems that require attention. We work proactively with our clients to evaluate aging receivables, identify potential issues early, and make informed decisions about continued funding. The goal is to protect both Hexagon and our client from unnecessary exposure while keeping your cash flow as consistent as possible.
Why Oklahoma Contractors and Trades Work With Hexagon
Construction factoring demands more than capital — it demands a partner who can read a pay application, evaluate a contract, assess the creditworthiness of a general contractor, and understand the risks inherent in a specific project. It requires someone who knows the difference between a conditional and unconditional lien waiver, who understands how retainage works, and who recognizes that a change order can alter the entire financial profile of a receivable.
Hexagon brings that expertise from over 30 years of banking experience that includes hands-on involvement in construction lending. We've evaluated construction projects from the lender's side of the table, and we bring that same analytical rigor to our factoring relationships. When questions arise about legal risk, project viability, or debtor strength, we have established relationships with professionals who specialize in these areas — allowing us to make informed decisions rather than blanket ones.
Construction is also an industry where being local matters. You need a factor who can visit a job site, sit across the table from you, review your project documentation in person, and build a relationship based on more than phone calls and email. Hexagon is based in Oklahoma and built to serve Oklahoma businesses. That proximity is not a convenience — it's a fundamental part of how we operate.
Manufacturing and Distribution
Manufacturers and distributors operate in a constant cycle of spending money before they make it. Raw materials must be purchased, production lines must be staffed and maintained, and finished goods must be warehoused and shipped — all before a customer ever receives an invoice. And once that invoice is sent, you're typically waiting 30 to 60 days for payment under standard net terms.
For companies operating on thin margins with high input costs, that gap between outlay and collection creates persistent cash flow pressure. A large new order — which should be a sign of success — can actually create a short-term crisis if you don't have the working capital to fund production. Factoring provides a way to convert completed sales into immediate capital so your business can keep producing, shipping, and growing without interruption.
How Factoring Works for Manufacturers and Distributors
Once you ship product and generate an invoice to your customer, you submit that invoice to Hexagon along with supporting documentation such as a bill of lading, packing slip, purchase order, or signed delivery receipt. We verify the receivable with your customer, then advance 80–90% of the invoice value directly to your account — typically within 24 to 48 hours.
When your customer pays the invoice in full, we remit the remaining balance to you minus a small factoring fee. The process repeats with each new shipment and invoice, creating a continuous funding cycle that keeps pace with your production and delivery schedule.
For manufacturers and distributors with recurring customers and consistent order patterns, factoring becomes a predictable and reliable component of your cash flow management. You know what's shipping, you know what's being invoiced, and you know when the capital will be available — allowing you to plan purchasing, production, and staffing with confidence.
Common Cash Flow Challenges in Manufacturing and Distribution
Beyond the standard gap between production costs and customer payment, manufacturers and distributors face several cash flow dynamics that make factoring particularly relevant.
Seasonal demand fluctuations can require significant upfront investment in raw materials, labor, and inventory months before the corresponding revenue arrives. A manufacturer preparing for a peak season must fund production now based on orders that won't be invoiced — and won't be paid — for weeks or months. Factoring the invoices generated during the ramp-up accelerates the cash cycle and reduces the strain of seasonal buildup.
Customer concentration is another common challenge. Many manufacturers and distributors rely on a small number of large accounts for the majority of their revenue. While these relationships provide stability, they also create risk — a single customer paying late or requesting extended terms can disrupt your entire cash position. Factoring allows you to convert those large, slow-paying invoices into immediate capital rather than waiting on one customer's accounts payable department to process your payment.
Supply chain commitments add further pressure. Your suppliers may require payment on shorter terms — or even upfront — while your customers expect net-30 or net-60 terms from you. Factoring bridges that mismatch by putting cash in your hands shortly after you ship, allowing you to pay your own suppliers on time, maintain favorable purchasing terms, and avoid costly supply chain disruptions.
Why Oklahoma Manufacturers and Distributors Work With Hexagon
Manufacturing and distribution businesses require a factor who understands the relationship between production cycles, inventory management, and receivables. A delayed shipment, a partial delivery, or a customer dispute over product quality can all affect the collectibility of an invoice — and a factor who doesn't understand these dynamics may either decline the receivable or create unnecessary friction in your operations.
Hexagon takes the time to understand how your business works — from raw material procurement through production, shipment, and invoicing. We learn your customer base, your typical order patterns, and the terms you extend so that we can evaluate receivables with context rather than just numbers on a page.
Whether you're a small specialty manufacturer fulfilling regional orders or a growing distributor expanding your customer base across Oklahoma, Hexagon provides working capital that scales with your sales and adapts to the realities of how your business operates. And because we're local, we're available to visit your facility, review your operations firsthand, and build a relationship grounded in genuine understanding of your business.
Service Companies
A wide range of business-to-business service companies share a common financial challenge — they perform the work first and get paid later. Whether you operate a commercial cleaning company, a security services firm, a landscaping operation, a consulting practice, an IT services business, an advertising or marketing agency, or a facilities maintenance company, the pattern is the same: your labor costs are immediate, but your clients pay on 30-, 60-, or even 90-day terms.
For labor-intensive service businesses in particular, this mismatch creates constant pressure. Employees expect to be paid weekly or biweekly. Supplies and equipment need to be purchased. Insurance premiums, bonuses, and training costs don't wait for your clients' accounts payable departments to process your invoice. And the more contracts you win, the wider the gap becomes between what you're spending and what you've collected.
Why Service Companies Are a Natural Fit for Factoring
Service businesses — especially security companies, janitorial and commercial cleaning firms, and similar contract-based operations — are among the most active users of invoice factoring nationwide, and for good reason. The receivables are predictable, the invoicing is recurring, and the cash flow need is constant and directly tied to payroll obligations.
Security companies face one of the longest average payment cycles of any industry, with some research indicating that 90 to 120 days can pass between extending credit and receiving payment. During that time, guards need to be paid, uniforms and equipment need to be maintained, and new contract mobilizations need to be funded. Janitorial and commercial cleaning companies face a similar dynamic — crews are dispatched daily or weekly, supplies are consumed continuously, and payroll is non-negotiable, all while clients pay on their own timeline.
Factoring eliminates the wait. Instead of managing your business around someone else's payment schedule, you convert each invoice into working capital within 24 to 48 hours and move forward.
How Factoring Works for Service Companies
The process is designed to work with your existing billing cycle. After you perform services and generate an invoice to your client, you submit that invoice to Hexagon along with supporting documentation — which may include a signed service agreement, a work order, a timesheet, or proof of service delivery.
We verify the receivable with your client, then advance 80–90% of the invoice value directly to your account, typically within 24 to 48 hours. When your client pays the invoice in full, we remit the remaining balance to you minus a small factoring fee.
For service companies with recurring contracts — monthly cleaning schedules, ongoing security deployments, long-term maintenance agreements — factoring becomes a seamless, predictable part of your cash flow management. You invoice on your regular cycle, you submit to Hexagon, and you receive funding. The rhythm of your capital matches the rhythm of your operations.
Scaling Without the Growing Pains
One of the most common challenges service companies face is the financial strain of growth itself. Landing a new contract should be a milestone — but when it requires hiring and training new employees, purchasing additional equipment, and covering mobilization costs weeks before the first invoice is even generated, growth can feel more like a crisis than an accomplishment.
Factoring addresses this directly. As your invoicing volume increases with new contracts, your access to working capital increases proportionally. There is no need to apply for a larger credit line, renegotiate a loan, or dip into reserves. The facility grows with you — contract by contract, invoice by invoice.
This is particularly relevant for service companies competing for larger contracts with commercial property managers, government agencies, healthcare facilities, and corporate campuses. These clients offer stable, recurring revenue — but they also tend to pay on extended terms and require significant upfront investment in staffing and resources. Factoring gives you the confidence to pursue and win those contracts knowing that your cash flow will keep pace with your commitments.
Why Oklahoma Service Companies Work With Hexagon
National factoring companies that serve the service industry tend to focus on large, multi-location operations with substantial monthly invoice volumes. If you're a locally owned security company, a regional cleaning operation, or a growing facilities maintenance firm serving the Oklahoma market, your account may not receive the attention it deserves from a national provider.
Hexagon is built for Oklahoma businesses. We understand the local market, the types of contracts you're competing for, and the clients you're serving. We take the time to learn your billing cycles, your contract structures, and your staffing patterns so that we can provide funding that aligns with how your business actually operates — not how a national template assumes it should.
Whether you're managing a handful of recurring contracts or scaling to serve dozens of commercial accounts, Hexagon provides the working capital, the receivables management support, and the personal attention that a growing service company needs from its financial partner.
Government Receivables
Why Government Receivables Are Well-Suited for Factoring
From a factoring perspective, government receivables carry a unique advantage — the debtor is a government entity. Federal, state, county, and municipal agencies are among the strongest debtors a factor can underwrite. The risk of non-payment due to insolvency or financial distress is virtually nonexistent. What you're dealing with is not credit risk — it's timing risk.
This distinction matters because it directly impacts how a factoring facility is structured. When the debtor is financially strong and the certainty of payment is high, the overall risk profile of the transaction improves. This can result in more favorable advance rates and terms compared to receivables from less creditworthy commercial debtors.
Factoring allows you to capture the value of that government contract now — converting a reliable but slow-paying receivable into immediate working capital that you can deploy back into your business.
How Factoring Government Receivables Works
The process follows the same general framework as factoring any other receivable, but government invoicing often comes with additional documentation requirements and compliance considerations.
After completing the contracted work, you submit your invoice to the government agency along with any required documentation — which may include certified payroll records, compliance certificates, progress reports, or proof of delivery depending on the nature of the contract. You then submit that same invoice and supporting documentation to Hexagon.
We verify the receivable and advance 80–90% of the invoice value directly to your account, typically within 24 to 48 hours. When the government agency processes payment and remits the full invoice amount, we return the remaining balance to you minus a small factoring fee.
It's important to note that some government contracts contain assignment of claims provisions that govern whether and how receivables can be assigned to a third party. Federal contracts, for example, are subject to the Assignment of Claims Act, which permits assignment under certain conditions, including proper notice to the contracting officer and the surety, if applicable. Hexagon understands these requirements and ensures that every government receivable we factor is handled in full compliance with the applicable rules and regulations.
Types of Government Contracts We Work With
Government contracting spans a wide range of industries and service types, and Hexagon works with businesses across this spectrum. Common examples include:
Construction and infrastructure subcontractors performing work on publicly funded projects such as roads, bridges, schools, and government buildings. Service providers holding contracts for facilities maintenance, janitorial services, security, landscaping, and IT support for government offices and installations. Staffing agencies providing temporary or contract personnel to government agencies. Trucking and logistics companies hauling materials, equipment, or supplies under government contracts. Manufacturers and suppliers fulfilling procurement orders for government agencies.
Regardless of the specific industry, the common thread is a creditworthy government debtor and a business that needs access to working capital faster than the government's payment cycle allows.
Navigating the Unique Aspects of Government Invoicing
Government contracts often come with a level of administrative complexity that commercial contracts do not. Invoices may need to be submitted through specific portals or systems. Payment may be contingent on inspection approvals, milestone certifications, or compliance verification. Budget cycles — particularly at the state and local level — can affect the timing and availability of funds, with fiscal year-end transitions sometimes creating temporary payment slowdowns.
Additionally, businesses working on publicly funded construction projects may be subject to prevailing wage requirements, certified payroll documentation, and bonding provisions that interact with the factoring process. Understanding how these elements work together is essential to structuring a factoring arrangement that functions smoothly within the government contracting environment.
Hexagon's banking background includes experience with government-related lending and the regulatory frameworks that govern public contracts. We understand the documentation standards, the compliance requirements, and the payment dynamics that are unique to government work — and we bring that knowledge to every government receivable we evaluate.
Why Government Contractors Work With Hexagon
Many factoring companies are willing to factor government receivables because the credit quality of the debtor is strong. But factoring a government invoice correctly — understanding the assignment requirements, the documentation standards, the compliance obligations, and the payment timing dynamics — requires more than just appetite for the deal. It requires expertise.
Hexagon brings decades of financial experience that includes direct involvement with government-related transactions. We know what questions to ask, what documentation to require, and what potential complications to watch for. We also understand that government contractors often work across multiple agencies and contract types simultaneously, which means your factoring facility needs to be flexible enough to accommodate that complexity.
Whether you hold a single local government contract or maintain an active portfolio of federal, state, and municipal work, Hexagon provides the knowledge, the capital, and the local presence to serve as a reliable financial partner for your government contracting business.
Healthcare and Medical Services
The healthcare industry presents a distinct set of cash flow challenges driven by complex reimbursement cycles, multiple payer sources, and administrative processes that can delay payment for weeks or months. Whether you operate a medical staffing agency, a home health services company, a durable medical equipment supplier, an ambulance or medical transport service, or an ancillary healthcare services firm, the gap between delivering care and receiving payment is a constant operational pressure.
Unlike most B2B industries where you invoice a single customer and wait for one payment, healthcare businesses often deal with a layered payment environment — hospitals, clinics, insurance carriers, Medicare, Medicaid, and third-party administrators all have their own timelines, documentation requirements, and approval processes. The result is a receivables portfolio that can be unpredictable in both timing and amount.
Which Healthcare Receivables Are Eligible for Factoring?
It's important to understand that not all healthcare receivables are factorable. Insurance claims, Medicare and Medicaid reimbursements, and patient-pay balances are generally not eligible for traditional accounts receivable factoring. These receivables involve third-party adjudication, potential claim denials, adjustments, and regulatory restrictions that place them outside the scope of standard factoring arrangements.
What is factorable — and where Hexagon focuses — are business-to-business healthcare receivables. These are invoices generated by healthcare service companies billing other businesses or institutions directly for services rendered. Common examples include:
Medical staffing agencies that place nurses, technicians, therapists, or administrative personnel at hospitals, clinics, and long-term care facilities. Home health companies that contract with healthcare systems or managed care organizations. Medical equipment and supply companies invoicing hospitals, clinics, or government healthcare facilities. Medical transport and ambulance services billing healthcare institutions or government agencies for patient transport. Healthcare consulting, IT, and administrative services firms invoicing healthcare organizations for professional services.
In each of these cases, the receivable is a straightforward B2B invoice — services were rendered, an invoice was generated, and payment is expected from a creditworthy healthcare institution or organization. These receivables follow the same factoring process as any other industry.
How Factoring Works for Healthcare Service Companies
After you provide services and invoice your client — whether that's a hospital system, a clinic network, a government healthcare agency, or a managed care organization — you submit that invoice to Hexagon along with supporting documentation such as a signed service agreement, timesheets, proof of service delivery, or a purchase order.
We verify the receivable with your client, then advance 80–90% of the invoice value directly to your account, typically within 24 to 48 hours. When your client pays the invoice in full, we remit the remaining balance to you minus a small factoring fee.
For healthcare staffing agencies and other service providers with recurring weekly or biweekly billing cycles, factoring becomes a consistent and predictable funding mechanism that aligns with your payroll obligations and operational cadence.
The Staffing Challenge in Healthcare
Healthcare staffing agencies face many of the same cash flow pressures as staffing companies in other industries — but with added complexity. The demand for qualified healthcare professionals is high, the competition for talent is intense, and the cost of labor is significant. Nurses, therapists, and specialized technicians command competitive wages, and payroll is non-negotiable.
At the same time, the healthcare facilities you staff often pay on 30- to 60-day terms or longer. Every new contract and every new placement widens the gap between what you're paying your employees and what you've collected from your clients. Growth, which should be your goal, can become a cash flow crisis without adequate working capital.
Factoring closes that gap. As you invoice for hours worked, you submit those invoices to Hexagon and receive advances within 24 to 48 hours. Your funding scales with your placements — the more you staff, the more invoices you generate, and the more working capital you access. There is no need to renegotiate a credit line or wait for a bank to approve an increase. The facility grows with your business automatically.
Why Oklahoma Healthcare Service Companies Work With Hexagon
Oklahoma's healthcare landscape includes major hospital systems, regional medical centers, Veterans Affairs facilities, tribal health organizations, long-term care networks, and a growing ecosystem of outpatient and specialty care providers. The businesses that support these institutions — staffing agencies, equipment suppliers, transport services, and professional services firms — are essential to the healthcare delivery system, and they deserve a financial partner who understands both their industry and their market.
Hexagon brings over 30 years of financial experience and a local presence that allows us to build genuine relationships with our healthcare clients. We understand the documentation standards, the billing cycles, and the payer dynamics that are unique to healthcare. And because we're based in Oklahoma, we're familiar with the institutions you're serving and the market conditions you're operating in.
Whether you're a growing medical staffing agency, an established home health provider, or a medical equipment supplier serving healthcare facilities across the state, Hexagon provides working capital, receivables management support, and the personal attention your business needs to thrive.