Accounts Receivable Financing
How does Receivable Financing Compare to a Business Loan?
Receivable finance helps grow your small business and meet your cash flow needs. If you have the financial inability to get a bank loan or are considered non-bankable, invoice factoring gives you the working capital you immediately need. Many times, traditional bank financing is not possible for small businesses or the approval process takes an excruciatingly long duration.
The factoring process allows for the advance of up to 90% of the accounts receivable amount the day the work is completed, or the service is performed. Factoring business invoices is a simple process; you get immediate cash when you need it most to run your business efficiently. This type of financing provides you with quick, flexible cash when you need it.
What Kind of Businesses Benefit from Receivable Financing? Companies that have:
- Slow paying customers
- IRS issues
- Payroll problems
- Start-Ups & Turndowned by Banks
- Underperforming banking relationships
- Rapid Growth with sales of $25,000 – $3,000,000 per month
- Credit protection against bankruptcy through Paragon’s Non Recourse Factoring
- 24 years servicing industries of all kinds
Who can afford to wait 45, 60 or 90 days to get paid by your large commercial or government customers? Factoring companies like Paragon look at your customer’s ability to pay, not your personal credit. Receivables factoring provides you the working capital your company needs. Contact us today for the perfect factoring program that works for you.
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Accounts Receivable Factoring Provides Many Benefits to Small Businesses:
How much working capital is advanced?
How long does it take to get the cash?
What is the cost of factoring and the associated rates?
Who collects payment?
What if I'm behind on payroll?
Does factoring work if my personal credit is bad?
What happens if my client never pays the invoices?
Recourse means if customer payment is not made, your company is fully responsible to pay back the balance owed to the factor. Between recourse and non-recourse, it’s an easy choice and that’s why we offer non-recourse factoring to all of our clients. Plus your factoring fee is not increased. We are one of the few factoring companies to offer credit protection at no additional cost to you.
I have IRS issues, can I get funding?
Are you wondering how the cost and fees stack up compared to MCA loans, bank business loans rates, SBA loan rates, other lenders and their financing packages? Use our powerful receivable factoring calculator to compare factoring rates.