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This Is How It Works
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  • "Apply On-Line", complete the application and submit it to us electronically.
  • Once we receive your application, it will be reviewed immediately and an executive will contact you to discuss your financial needs and goals. Upon approval, Paragon will send a proposal outlining our terms and rates. Upon your agreement with our proposal, we will overnight the legal documentation.
  • When the legal documents are executed, we will perform a due diligence background check. Remember, we are not primarily concerned with your company's credit, we rely on your customer's ability to pay.
  • The due diligence work takes about 3-5 business days to complete. This consists of checking for Uniform Commercial Code liens, judgment search, tax lien search, Dun & Bradstreet search and various other corporate searches.
  • When the searches are completed, funding can begin immediately. Thereafter, once invoices are received and verified, you will receive funding within 24 hours.
 factor, factoring, accounts receivable, finance, commercial funding, inventory, loan
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  • Submit all the customers you want to factor so we can credit approve them for funding. Include the contact name and phone number.
  • Send us invoices with their purchase order (if applicable) and proof of delivery or performance. The goods must have been delivered or service performed.
  • We then verify the invoices and immediately advance you money via wire transfer, up to 90% of the gross invoice amount. Payment of the invoices are made directly to us from your customers.
  • Once payment is received, we fund you the remaining amount, minus our fee.
  • It's that easy.
  • Click here to see this process in an image diagram!!!
Bank Rates vs. Factor Fees

Compare how factoring fees hold up against conventional bank financing rates.

 
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  • One invoice copy can be submitted to Paragon. Mail your customer the original invoice and fax us a copy along with proof of performance and/or delivery and any other supporting documentation. We will, in most cases, notify your customers to send payment to us directly.
  • Fill out the assignment schedule sheet provided by us. It must be signed by the company president. When completed, attach it to the invoice that you are submitting. We use this as a cover sheet to your faxed invoices and we forward this cover sheet to our data entry department so that they can enter your invoices into the computer and you can see them on your account 24 hours per day.
  • At your option, we can send funds via wire transfer or check (regular mail or overnighted).
  • Please keep one copy of the assignment schedule of accounts and invoices for your records.
  • Funds will be advanced following verification of the invoices. This is usually completed the same day that we receive the invoices.
  • Credit approval for new accounts is easy and we encourage you to call in advance for credit checks prior to shipping goods or providing services to new accounts. All we need is the name and address of the new customer.