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

Receivable Financing and Purchase Order Financing for Tea & Coffee Importers.

27Receivable Financing and PO Financing for Tea & Coffee ImportersThe growth in US consumer Tea consumption has been notable in the last 14 years. However, very little tea is produced in the US, and the vast majority must be imported.

Imports of tea, coffee, coffee beans, and spices are subject to inspection by the Food and Drug Administration (FDA). All commercial imports of food products require the filing of Prior Notice with FDA. Also, foreign manufacturers and/or distributors of food products must register with the FDA before their goods may be admitted.

Also, there are no restrictions or quotas on coffee, tea, and spices whether bottled, brewed or packaged. In other words, there is no limit to the amount you can import into the US.

Paragon Financial and the Tea and Coffee Importers and Wholesalers

Since 1994, Paragon Financial has been meeting the needs of Tea and Coffee importers/wholesalers through receivable financing and Purchase Order funding.

The process is relatively easy. You as the tea importer make a sale and receive a valid Purchase Order from a creditworthy client (Paragon can provide customer credit protection against bankruptcy to tea importers). Using a Vendor Guarantee or Cash Against Documents (CAD) supplied by Paragon, your vendor ships goods to the US. These goods should meet the quality, quantity, and timeliness standards. It is critical that Tea Importer’s customers do not decline goods for any reason. This process is the Purchase Order funding part of the transaction.

Once the importer’s client receives the tea and verifies with Paragon receipt and satisfaction with the product, Paragon then factors the invoice generated. Factoring proceeds on imported perishable goods are typically in the 80-85% range. The Invoice Factoring proceeds go to the tea importer’s vendor (if a Vendor Guarantee was utilized) or to pay back Paragon for the Purchase Order Financing. Subsequently, once the client of the tea importer pays Paragon, then the importer receives the balance of the invoice less Paragon’s original advance percentage and collected factoring fees.

The benefit’s that Paragon Financial provides a Tea Importer/Wholesaler include:

Fund your Tea or Coffee importation company TODAY!

Apply Securely, call 888-400-5931 ext 1 or email us.

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