Non-Recourse Factoring & Credit Protection
Paragon’s traditional Non Recourse Factoring through Credit Protection program is unique. Statistics show that less than 20% of accounts receivable financing companies utilize credit protection as part of their factoring product. At Paragon, we have the superior credit strength needed by large insurers that allows us to offer credit protection. Although credit protection is not inexpensive, Paragon cares about their clients and feels it is required to properly protect them. After the volatility of the last 10 years, we feel it is more important now than ever. In life, there is only one thing worse than no sales, and that’s selling your service or product and not being paid.
Paragon becomes your defacto credit department! We currently manage the AR credit protection, collections and cash advances for clients receiving payment to us on their behalf from Walmart, Comcast, Neiman-Marcus, Textron, Time-Warner, AT&T, the US military and many state/local/city governments, just to name a few. We are not a collection agency hounding companies for bad debt. We only manage, protect and advance against solid invoices from reputable and creditworthy companies. If we do not make your customers happy, we do not get to manage your AR. You will have one and only one college educated relationship manager assigned to your account with 10+ years of experience. Paragon is famous for our “soft touch” with account debtors (your clients).
Each one of your customer’s will have a predetermined credit limit: For example $20,000-$1,000,000 per month. What we advance you plus the factoring fees will be covered for bankruptcy protection via our policy. We will always pre-approve your customers before we fund your invoices. Your salespeople will have a pre-approved list on who to solicit for new sales. No wasting time on potential clients who don’t pay their bills. In addition, as your clients make payments on a regular basis with great credit history we can raise their credit protected limits.
ABOUT PARAGON FINANCIAL GROUP
For over 23 years, Paragon Financial Group has provided working capital solutions for growing and non or under-bankable companies throughout the United States.