Invoice Factoring For Consulting Firms
- Working Capital in as little as 24 hours
- Get up to 95% of your invoice advanced
- Ensure Payroll is Met
- Develop Cash Flow Program
- Client Credit Services
- Accounts Receivable Management
For over 18 years Paragon Financial has offered consulting businesses an alternative to conventional Bank Financing. When the banks would not offer financing or too little, Paragon offers consulting firms cash flow programs through the invoice factoring, purchase order financing and accounts receivable financing.
Waiting 30-90 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 consulting firm, and pay suppliers. We’ll wait for your customer to pay.
Simply put, factoring means that Paragon advances you up to 95% of the invoice amount immediately, and gives the remaining balance when your clients make full payment. Here’s how invoice factoring for consulting firms works in three simple, easy steps:
- Your consulting firm provides goods or services to creditworthy customers and then invoices them with a copy sent to Paragon.
- Paragon will fund your business with an immediate payment of up to 95% of the received amount.
- 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.
The Paragon Factor Gives You The Power To Make Things Happen Now
Keep Capital Flowing Without Increasing Your Debt
This is not a loan. Paragon gets you money for your completed work, now. We don’t ask for equity in your business, you retain full control.
Client Credit Services
Paragon can act as your in-house credit department at no cost to you. Before doing business with a new customer, let Paragon give you a comprehensive payment and credit history so you can avoid problem clients.
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. When discussed with you first, Paragon is fully capable of applying the heat when needed.
Paragon’s agreements give you the flexibility to factor what you want, when you want, without requiring long term contracts. You choose which accounts that you wish to factor. Unlike some other companies, Paragon does not require you to factor everything. We only want you to use factoring if and when it’s beneficial for you.
Get Supplier Discounts – Win More Business
The ultimate goal of invoice factoring is to increase your available funds. This will enable you to go after bigger clients and larger contracts. Often, you will find that it takes the big guys longer to pay. This can lead to difficulties in filling larger orders and performing larger jobs. Helping you to grow your business is the purpose of The Paragon Factor.
Increased cash flow can enable you to quick pay your suppliers. This can allow you ask for trade discounts. Often, as little as a 2% quick pay discount can cover some, if not all, of your factoring costs.