Invoice Factoring For Maintenance Companies
Paragon Financial was founded in 1994 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 maintenance companies a steady stream of cash through the invoice factoring of their account receivables.
Here at Paragon, 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 maintenance companies works in three simple, easy steps:
- Your maintenance company 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 70%-90% 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.
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 Gives You The Capability To Make Things Happen Now
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.
Control Your Accounts Receivable
Log on to our account manager to check your reports in real time. Print out your account data as you need it.
Paragon is not a collection agency, but we do have a team of callers that put in friendly reminders to clients with past due accounts. We make sure to handle all calls in a professional manner. After consulting with you first, Paragon is fully capable of applying pressure when needed.
Flexibility
You decide which accounts to factor and when to do so. You decide when it is advantageous for you to factor. Paragon does not lock you into long term contracts like some other companies.
Let Us Help Your Business Grow And Prosper
Cash flow enables you to go after bigger clients and contracts. Because larger companies can take longer to pay, you may find it difficult to accomplish large jobs or to fill big orders. Giving you the capability to grow your business is The Paragon Factor.
Increased cash flow can enable you to quick pay your suppliers. This can allow you ask for trade discounts from suppliers. Often, as little as a 2% quick pay discount can cover some, if not all, of your factoring costs.