Factoring Outlook From The Front Lines
As the financial sector begins to pick itself up and dust off the fallout of the past few years, factoring companies are seeing an uptick – albeit a cautious one – in activity. Paragon Financial Group, a factoring company providing working capital solutions, reports they’re providing invoice funding and other trade financing for more and more companies to fund growth and take advantage of the recovering economy.
In business for more than 25 years, Paragon has seen their share of ups and downs in the economy. Right now they’re seeing larger deals, more competition, and more scrutiny.
“We’ve had an increase in business of 28 percent as compared to this time last year,” said Michael Rossi, President of Paragon Financial Group. “Our first quarter growth was positive and that has continued into the second quarter. Right now we have a good pipeline of deals, many of which are larger than we have seen in the past, and many with more established companies. That’s positive.”
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