Small Business Finance Blog

Some people may think back to their school days when upon seeing the term Notice of Assignment. However, a Notice of Assignment has nothing to do with what your teacher assigns. It’s a tool that factoring agencies use to begin the process of helping small to large businesses receive the liquid cash to grow and thrive within their market. Today, many companies partner with a receivable factoring company to create the A/R financing they need to succeed. An essential step in this partnership is the creation of a Notice of Assignment. What is In a Notice of Assignment? As the

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This article was originally published in the ABJ Journal and written by Paragon Financial’s President, Chris Curtin. When disaster strikes, many need contractors to clean up the aftermath. Chris Curtin explores the process of providing invoice factoring to FEMA contractors and outlines potential pitfalls for factors. Over the last decade, the estimated cost of natural disasters to the U.S. government was an astronomical 350 billion dollars. Natural disasters can leave catastrophic destruction in their wake. The repair costs following significant hurricanes can be incredibly high. High price causes businesses and local communities to starve for resources when they need them

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Top 10 Benefits of Disaster Recovery Invoice Factoring

Natural disasters are simply a part of life. Fires, hurricanes, winter storms, tornadoes, tsunami, and earthquakes can reach havoc on local economies. A business must keep ahead of the risk and prepare when the worst does come. Factors have special disaster assistance program provides emergency non-recourse invoice factoring; credit protected working capital for companies across the US that are affected by a disaster. These affordable and fast working capital options help companies stay cash positive through the increased demand for critical cleanup and repair. There are funding program assists with FEMA contract financing, and those companies awarded FEMA contracts such

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How to Win (& Finance) Government Contracts

No one can invest in your small business like Uncle Sam. The U.S. government pumps more than $1 trillion each year into both small and large businesses in the form of government contracts. Nearly $440 billion of that goes to small businesses according to Business News Daily. Many of these contracts are specifically available to Small Disadvantaged Businesses (SDB) or to enterprises that are veteran-owned or minority-owned. The government sets formal goals for the kinds of businesses in which it wants to invest its contract dollars. 23% of prime contracts to small businesses 5% of prime and subcontracts to women-owned

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Dig a Well Before You Need One – Starting a Commercial Financing Relationship

The best time to dig a well is when you don’t need one. The result is also right: don’t wait until you need one to get one. The same is valid for establishing a relationship with a commercial finance company. The best time to begin a financing relationship is before you’re in dire need of one. Please don’t wait until it’s too late for someone to get to know you and your business. Benefits of a Commercial Finance Company Relationship: A commercial finance company provides liquidity to small and medium-sized businesses through the purchase of accounts receivable, or a loan

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How to Become a Factoring Broker

There’s a 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 precisely how being a “Factoring Broker” works. You can make money right from your home (or office for that matter), by merely referring qualified businesses that need extra short-term funding. Moreover, what companies 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

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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 gruesome 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. Factors 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 Business

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International Factoring Association Interviews Paragon Financial’s Jon Anselma

The Commercial Factor a Publication of The International Factoring Association Spotlight on Paragon Financial’s Jon Anselma Can you talk about Paragon being acquired by TFS? The economics of why you sold (good price, good timing, etc.)? Why that company? Do you see the industry changing and if so, how? What’s next? The factoring industry has changed exponentially since first starting Paragon in 1994. I’ve seen countless companies come and go. Paragon has always been profitable due to an emphasis on our back office and willingness to adapt to the current market. We have changed when needed, readjusted our strategies, and

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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 get started and to have financing in place. 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 more wealth in a short period. Furthermore, when a company enters the global

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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 financing out there that is significantly increasing in popularity in the janitorial industry. We call this Factoring. This type of funding concentrates on your customer’s ability to pay, not yours. How to Get Working Capital using Your Invoices Factoring is the sale of your accounts receivable (invoices) to a funding source at a discount off

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