Paragon Financial Group is funding during the COVID-19 crisis.

Entrepreneur Wonder Women

Did you know March is Women’s History Month?

The U.S. has been celebrating Women’s History Week since 1981, which Congress expanded to Women’s History Month in 1987. We want to dedicate this newsletter to all the wonderful women in business that we’ve had the good fortune to get to know over the years.entrepreneur wonder women business loans and financing

It’s no wonder to us that statistics* suggest our next big economic push will be led by Women-Owned Businesses (WOBs):

  • Thirty-three percent of all trademarks granted to individuals and sole proprietorships in 2012 went to women.
  • Women own 30 percent (a total of 7.8 million) of companies, generating $1.2 trillion a year in sales.
  • Fifty-five percent of women-owned businesses with receipts between $100-500K expanded or had constant employment between 2007–2009.

Also, a recent national survey** found a pervasive sense of economic optimism and a prediction by 85% of WOB that more women will become entrepreneurs in 2013 than in years past. In a positive sign for the economy, they also plan to invest more (38 percent) or the same (54 percent) in hiring this year than they did in 2012.
But all is not rosy in WOB land.

Women still face significant challenges in business, including:

  • Increased pressure to balance business and family
  • Societal and cultural expectations of women’s roles, especially overseas
  • Facing the ‘good-old-boy’ syndrome in male-dominated networking clubs
  • The struggle to be taken seriously, especially in male-dominated industries such as finance
  • Difficulty getting credit and lack of investor confidence

For any woman who has ever been told ‘not to worry your pretty little head’ about a business issue, it’s enough to make your blood pressure spike. The issues become more pronounced when looking for financing, and many women do everything they can to avoid trying to get credit. In the past year, 78 percent of the surveyed WOBs did not seek a new or extended line of credit. More than half of them indicated they did not want to take on additional credit. However, 32 percent did not think they could get credit if they tried.
That’s not the case at Paragon Financial. WOBs are the fastest-growing portion of our business portfolio, and we’re ready for more.

Factoring with Paragon Financial offers WOBs a real solution because:

  • Investor confidence is not an issue. We make our funding decisions based on the credit-worthiness of your customers, not on your worth or your company’s balance sheet.
  • We work with growing businesses, two years established, and younger. Additionally, we will work with startups if we see the potential.
  • It’s easy to start working with us. There’s no need to gather three years of back taxes and paperwork.
  • You won’t be left stranded – Paragon can handle massive, quick growth with continued funding.
  • Paragon provides an in-house credit department and someone to manage your receivables so you can concentrate on your core business.

We’ve worked with women entrepreneurs since the very beginning, in industries like staffing, security, healthcare, IT, and especially government contracting, which favors women-owned businesses. Click here to take a look at Maria’s story – she imports beauty accessories and has been a client of ours for over 15 years.
Paragon is committed to being the go-to resource for WOBs looking for capital with invoice factoring, purchase order financing, and other nonconventional programs.
*Source: National Women’s Business Council 2012 Annual Report
**Survey conducted by Group, Inc. (Nasdaq: WWWW) and the National Association of Women Business Owners (NAWBO)

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