Small Business Finance Blog

How to Become a Factoring Broker

There’s little substitute for earning extra cash operating a home-based enterprise with completely flexible hours, even on a part-time basis. Being your boss and having the freedom to work when you want is possible. That is exactly how being a “Factoring Broker” works. You can make money right from your home (or office for that matter), simply by referring qualified businesses that need extra short-term funding.  Moreover, what businesses do not need more funding? You do not even have to be an expert in corporate finance. You can pursue this by yourself. Better yet, team up with others to have ... Read More

Bad Credit Asset-Based Lending (ABL)

Getting a small business loan is a real challenge no matter what kind of credit you have. It gets truly ugly for companies with a bad credit score. Or perhaps you are a start-up or newer business looking for business financing. Many small businesses with these challenges are looking into different types of asset-based loans (ABL) when bad credit or being non-bankable is an issue. We are here to help you navigate through the process of landing fast, affordable funding for your non-bankable small business. First, let’s look at the variables involved in your unique situation with a checklist: Start-up ... Read More

A Guide to Starting a US Import Trade Business with Financing Options

Starting and Financing a US Import Trade Business is not an easy task. Here is a guide to getting started and to have financing in place from Paragon Financial, a 24-year old non-recourse factoring and import trade financing company. Export and Import are not new terms. The business of trading (importing and exporting) has been going on for 10,000+ years. Trade had made it possible for the middleman and the pioneers in the export and import business to become rich and prosperous and create the Great Houses. Even today, when a business goes global, it leads to the generation of ... Read More

We all know that the banks do not provide a friendly credit environment to the commercial cleaning industry. If they offer any money, it usually isn’t enough. This often leads to an inability to grow your company due to a lack of funds. Well, there’s a type of financing out there that is greatly increasing in popularity in the janitorial industry. We call this Factoring. This type of financing concentrates on your customer’s ability to pay, not yours. Factoring is the sale of your accounts receivable (invoices) to a funding source at a discount off the face value in return ... Read More

Agricultural Supply Chain Funding with PACA

As a part of being in the agriculture industry, you have worked hard to create, import, or distribute the perishable fruits and vegetables that keep American families healthy. As a backbone of American society, you deserve to have the confidence and comfort of being able to grow your business and take care of your family with consistently available cash in the bank. At Paragon, we understand that when it comes to perishable goods, how difficult it can be to find a PACA lending source who understands and is willing to work with the complexity. With the Perishable Agricultural Commodities Act ... Read More

What is Invoice Factoring without Recourse?

What Is a Non-Recourse Factoring Agreement? Thinking about invoice factoring without recourse for urgent cash flow or for working capital to grow your small business? Well, it may seem like there are a lot of factoring options out there for small business. Yet, all accounts receivable factoring options are not equal. Likewise, factoring companies (also known as, “factors”) are not all the same. Many factoring companies only offer factoring “with recourse.” More experienced and long-standing factoring companies offer factoring “without recourse.” Invoice factoring without recourse or non-recourse factoring is an agreement within a factoring contract where the factor’s client does not have to ... Read More

Are Factoring Fees Tax Deductible?

Here’s Your “No Bull” Advice and “Big Picture” Rundown About Federal Tax Deductions and IRS Reporting for Domestic Factoring Financing To file for tax deductions available from your factoring arrangement, be sure to turn to a reputable and experienced tax preparer. To better understand your factoring agreement, talk with your factoring company professional representative who knows their stuff. Your tax preparer will need to address a few questions and sort out reporting requirements for you. Here are a few key questions to handle: Are factoring fees tax deductible? If your factoring agreement calls for invoice sale advance payments to incur ... Read More

Nurse Staffing Agency Financing

How do Nurse Staffing Agencies get Funding? Even for the best-run nurse staffing agencies, payroll, rapid growth, and similar challenges are complicated issues. Clearly, running a nurse staffing company is no easy task. Try navigating through the above financial pressures with the complexity of scheduling, federal and state staffing requirements and working with staffing models. These include the patient acuity, budget-based, or nurse-patient ratio. Having readily available working capital on hand helps turn these challenges into a profitable venture. One of the best ways to achieve the financial strength nurse staffing agencies demand is through invoice factoring. Factoring is a ... Read More

The Sad & Expensive Truth about Merchant Cash Advance (MCA) Loan Rates

1.3 rate factor? Notarized COJ? What do these terms even mean? And more importantly, what is the real cost to you of a Merchant Cash Advance or MCA Business Loan? MCA loans are seen as bad credit business loans and are typically 4 to 10 times more expensive than Invoice Factoring with none of the protection. The MCA ACH Loan Rule of Thumb says, whatever the MCA Rate Factor dollar amount is over the payback period, your net profit should be more. If not, at the end of that period you will be that much closer to bankruptcy. For example, ... Read More

How Factoring Companies Help Staffing Agencies

It is not uncommon for staffing agencies to experience working capital challenges, especially with weekly payroll. Invoices can take up to 90 days to be paid, all the while you still have to pay your staffing payroll on time. Whether you specialize in short and long-term temp work, or professional recruiting, there are going to be times when the amount of cash coming in is not able to cover what has to go out. These issues are relevant no matter what industry your staffing firm represents from janitorial to nursing, to security guards to teachers. What Mistakes Do Staffing Agencies Make ... Read More

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