Invoice Factoring for Automotive Supply Companies

Paragon Financial Group was founded in the mid-90's with the initiative to afford growing businesses an alternative to conventional Bank Financing. When the banks either couldn't grant funds or bestowed too little, Paragon could promptly offer automotive supply companies a steady stream of cash through the invoice factoring of their account receivables.

Here at Paragon Financial, we understand that waiting 30-60+ days for payment of an invoice ties up your working capital. By receiving payment immediately upon invoicing, through our factoring program, you will have the money to meet payroll, grow your company, and pay suppliers. We'll wait for your customer to pay.

In the simplest terms, factoring means Paragon advances you up to 90% of the invoice amount immediately, and provides the remaining balance when your clients settle in full. Here's how invoice factoring for automotive supply companies works in three simple, easy steps:

1. Your automotive supply company provides goods or services to creditworthy customers and then invoices them with a copy sent to Paragon.
2. Paragon will fund your business with an immediate payment of 70%-90% of the received amount.
3. Customers make payment directly to Paragon according to the terms of the invoice, and Paragon return the balance of the paid invoice to you minus a fee.

It's simple as that! Get started immediately by filling out the simple and quick online application on the right-hand side of this webpage.

And remember, Paragon does not sign you on to any long-term contracts. Our agreements allow you the flexibility to factor what you want, when you want. You can pick and choose the accounts that you want to factor.

Paragon Provides The Capital You Need

Improve Cash Flow Without Additional Debt

Invoice factoring is not a loan, so you're not incurring any debt. We ask for no equity stake in your company. Money immediately upon completion of work. You maintain full command of your business.

Customer Credit Services

At no extra cost, Paragon now acts as your in-house credit department. If you're thinking about doing business with a new client, give Paragon a call. We'll give you detailed information on their payment and credit history. Paragon can help you stay clear of doing business with bad companies.

Accounts Receivable Management

Paragon provides on-line, real time reporting. You can log on anytime and see updated aging reports, collection reports, and more. Back date certain reports and print them out directly for internal use or accounting purposes.

Paragon is not a collection agency, but we do have a team of callers that put in friendly reminders to accounts when they get past due. We make sure to handle all calls in a professional manner. If we discuss it with you first, Paragon is fully capable of applying the appropriate pressure when needed.

Flexibility

Here at Paragon, we allow you to use invoice factoring when and if it is beneficial for you and your company. We do not ask you to sign on to any long-term contracts. With Paragon, you choose the accounts that you want to factor and, unlike other companies, we do not require you factor the entire account. You get the flexibility to factor what you want, when you want, if and when it's beneficial for you.

Available Cash Lets You Win More Business And Get Discounts From Suppliers

Big companies can take longer to pay you. This can restrict your available cash and make it difficult to complete orders or perform larger jobs. Invoice factoring can give you the available cash to quick pay your suppliers. As little as a 2% quick pay discount can cover the greater part of your factoring cost.