Invoice Factoring and Accounts Receivable Financing For Your Colorado Company
- Colorado Companies Get FAST CASH
- Up to 95% of your invoice advanced
- Funding since 1994
- Payroll is funded
- Cash Flow is Improved
- Tax issues? No Problem
- Bad credit? Paragon looks at the credit of your customer
Paragon, since 1994, has met the special funding needs of a full range of industries in Colorado including research, high tech, agriculture, oil and gas suppliers, government contractors, IT temp staffing agencies, beer, wine & spirit vendors, cable installers among many others.
We work with companies in “The Centennial State” helping them with their factoring and cash flow needs, for example:
A company developed an innovative monitoring device for the Canadian Government Healthcare System. It enables patients newly-released from the hospital to communicate with a registered nurse and get advice via video and chat function so they don’t have to go back to the hospital and be readmitted for minor issues that can be addressed remotely. The Canadian government took 120 days to pay, and the Company needed to pay their suppliers for parts in a timely manner. They looked into other factoring companies who were unwilling to work with them for two reasons. First, their multi-million dollar exposure with a 100 percent concentration debtor in the government; and second, the fact that the Canadian Health Ministry took so long to pay.
With much experience working with government entities, Paragon Financial had the expertise and patience to help. The company already had two equity investor groups who had liens against Company assets. Paragon negotiated with the investor groups to achieve a subordination on the receivables. We provided a $2 million factoring line of credit, and their very first invoice was for $1.4 million! Paragon experts had to dive deep into the Canadian Health Ministry infrastructure to get the proper signoffs. Our diligence paid off when we received written verification from the Deputy Minister of Health, the top person in the department.
Our factoring line of credit and our government experience – sealed the deal for the entrepreneur. The Company now has the ability to pay their suppliers and fill the Canadian Health Ministry’s large orders. It also gave them the working capital they needed to grow the business.
Paragon serves all areas of Colorado, including Denver, Colorado Springs, and Aurora.