Invoice Factoring For Wholesalers
Paragon Financial Group was founded in the mid-90′s 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 wholesalers and wholesale companies a steady stream of cash through the invoice factoring of their account receivables.
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.
Simply put, factoring means that Paragon advances you up to 90% of the invoice amount immediately, and gives the remaining balance when your clients make full payment. Here’s how invoice factoring for wholesalers works in three simple, easy steps:
- Your wholesale 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 up to 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 Gets You Money To Run Your Business
Improve Your Company’s Cash Flow Without Additional Debt
This is not a loan, so you incurring no additional debt. Paragon doesn’t ask for equity stake in your company. We get you the money you are due immediately upon completion of work. You will maintain full command of your business.
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
Log onto Paragon’s real time reports system. Check collections, print out account reports and more. If you have clients that need friendly reminders, let our experienced call personnel contact your past due accounts. At your request, our professional team can even apply appropriate pressure to remind clients of their obligations.
Flexibility
Here at Paragon, we allow you to use invoice factoring when and if it is favorable for you and your company. We do not ask you to sign on to any long-term contracts. With Paragon, you choose the accounts that you want to factor and, unlike other companies, we do not require you factor the entire account. You get the flexibility to factor what you want, when you want, if and when it’s advantageous for you.
Win More Business – Get Supplier Discounts
Ultimately, this is the goal of invoice factoring. With your new-found cash flow you can now go after larger contracts and bigger clients. The big guys often take longer to pay and it’s difficult to perform big jobs or fill larger orders when you don’t have the cash flow to sustain it. The ability to grow your business is The Paragon Factor. In addition, you can now ask for trade discounts from your suppliers. Often times getting a 2% discount for quick pay to your suppliers can help absorb some, if not all, of your factoring cost.