- Growth Opportunities
- Working Capital Needs
- Payroll Funding
- Slow-paying customers
- Government Suppliers
- Bank Turn-Downs
- Maxed-Out Lines of Credit
- Operating Losses
- Undercapitalized Companies
- High Customer Concentrations
- IRS Issues – Tax Liens
- Seasonal Businesses
- Vendor Guarantees
Imagine the great things your company could accomplish if cash flow wasn’t an issue. You could be more aggressive going after new business. Offer better credit terms to your customers. You could hire the right new people. When you’re liquid, you have the power to invest in possibilities. Just as importantly, you have the financial strength to weather the occasional storms that come your way.
This is what the Paragon Factor means for your company. Unlike banks, we don’t tie you to a long-term loan. Paragon simply delivers the revenue you are owed, the money you have already earned. Our factoring solutions solve your cash flow problems immediately without digging you deeper into debt. From Accounts Receivable Financing to Purchase Order Factoring to Invoice Factoring.
Money on paper is worthless. Out-of-pocket expenses are inevitable. You can’t afford to wait 30-60 days or more for income to energize your business. Paragon grows, secures and strengthens your business with guaranteed cash flow right away. We research your client’s credit history. We manage your outstanding invoices. We provide professional collection services when necessary.
- Factoring is a flexible financial solution that can help your business be more competitive while improving your cash flow, credit rating, and supplier discounts. Unlike traditional bank financing, invoice factoring relies on the financial strength and credit worthiness of your customers, not you. You can use factoring services as much as you want or as little as you want. There are no obligations, no minimums, and no maximums.
- Manufacturers face a problem – suppliers need to be paid to deliver supplies to continue manufacturing, but when goods are sent to the wholesaler or the company making the order, the invoice raised may not be paid for a long period. Finding the liquidity to continue to pay suppliers allows certain manufacturers to grow and prosper – those who can’t find it may go out of business even if they run a successful operation.
- Manufacturer receivables factoring allows raised invoices for goods delivered to be discounted and cashed, providing the cash to pay suppliers for more raw supplies. The operation becomes more fluid and the risk of facing cash flow problems disappears. Many successful manufacturers have used factoring to help fund their growth and provide a smoother cash flow situation.
Staffing Agency Factoring
- The basic problem faced with recruitment agencies, especially temp agencies, is that they pay their temp staff on a weekly basis from their balance sheet, but don’t receive payment from their contracts regularly – this short fall in cash flow must be addressed in some manner, and invoice factoring fits the bill perfectly. Factoring is a service that a very large percentage of the recruitment industry uses.
- The exporter ships the goods to the importer. The exporter assigns his invoices through the export factor to the import factor who assumes the credit risk. The export factor prepays invoices. The importer pays the proceeds to the Import factor, which transfers the amount to the export factor. The export factor deducts prepayment already made, other charges and pays the balance proceeds to the exporter. Import factoring is a financial service that enables you to purchase goods from your overseas supplier.
Trucking/Freight & Courier Factoring
- Successful trucking companies rely on dependable cash flow. You need your invoices paid right away for fuel, trucking maintenance, repairs, and insurance. We advance you cash as fast as you can produce invoices from credit-approved customers. We can provide you with consistent cash flow.