How It Works
How Factoring Works
Money fuels business. When cash flow stalls, it compromises your ability to run your company. How many times have you put aside bills, lost sleep over payroll, or couldn’t pay suppliers when they asked for payment? There is a time during each month, for all growing businesses, when outstanding receivables are keeping you grounded. If only you could get paid today on work you completed, your business would take off. This is why you need the Paragon Factor.
Paragon serves as your cash flow engine. The process is called “factoring”, and in the simplest terms, it means Paragon advances you up to 92% of the invoice amount immediately, and gives the remaining balance when your clients settle in full. Invoices can be submitted for factoring directly upon completion of work or product delivery. Revenue flows directly and instantly to you. No delays. No collection hassles. We can often assume all credit risk and responsibility for client payment. In return, Paragon receives a small fee at the end of the process. Set-up time can be as little as 2 or 3 business days and you’re not locked into a long-term contract. Paragon allows you the flexibility to factor only when you need it, and as often as you like. We base our approval decisions on your customers’ ability to pay, and not the credit of your growing business. Ask us about invoice factoring and purchase order financing along with our included credit protection.
Improve Cash Flow Without Additional Debt
We ask for no equity stake in your company. You maintain full command of your business.
Customer Credit Services
Accounts Receivable Management
Paragon is not a collection agency, but we do have a team of callers that put in friendly reminders on accounts when they become past due. We make sure to handle all calls in a professional manner.
Win More Business-Get Supplier Discounts
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 costs.