Florida Government Factoring
Get Immediate Cash To Finance Your Government Contract
Paragon Financial now offers a new Vendor Financing Program for State of Florida suppliers. We are targeting small and medium sized businesses in need of contract fulfillment financing. If you are a State of Florida government vendor – you are automatically eligible for financing.
We are the local specialists for all State of Florida government vendors cash flow related issues. Headquartered in Ft Lauderdale, Paragon has over 23 years of experience working with the various agencies within the State of Florida. We work with Local, Municipal, Florida State Government, Federal Government and non-governmental entities.
This is How We Can Help Your Business:
As a business owner, you know that a contract with the state of Florida or other government agency could represent a huge opportunity to grow your business. But, you’re also aware of the issues that come with the opportunity, cash flow shortages or constraints or tightened cash flow.
The State of Florida can take 30, 60, up to 90 days to pay your invoices. This is in turn can tie up your operating capital and leave you short on cash when it comes to working capital, payroll and paying suppliers… so you’re forced to pass up new contracts and opportunities. But it doesn’t have to be that way; our financing can help your business succeed.
Paragon Serves as Your Cash Flow Engine
The process is called ‘factoring’, and in the simplest terms, it means Paragon advances you up to 80% 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, not yours and come through even when the banks say “No”.
The Paragon Factor Gives You the Power to Make Things Happen Now
Improve Cash Flow Without Additional Debt
- Factoring is not a loan, so you’re not incurring any debt. We ask for no equity stake in your company. Money immediately upon completion of work. You maintain full command of your business.
Customer Credit Services
- At no extra cost, Paragon now acts as your in-house credit department. If you’re thinking about doing business with a new client, give Paragon a call. We’ll give you detailed information on their payment and credit history. Paragon can help you stay clear of doing business with bad companies.
Accounts Receivable Management
- Paragon provides on-line, real time reporting. You can log on anytime and see updated aging reports, collection reports, and more. Back date certain reports and print them out directly for internal use or accounting purposes.
- Paragon is not a collection agency, but we do have a team of callers that put in friendly reminders to accounts when they get past due. We make sure to handle all calls in a professional manner. When discussed with you first, Paragon is fully capable of applying the heat when needed.
- Paragon does not sign you on to any long-term contracts. Our agreements allow you the flexibility to factor what you want, when you want. You can pick and choose the accounts that you want to factor. Some companies will require you to factor everything. Not here at Paragon. We only want you to use factoring if and when it’s beneficial for you.
Win More Business-Get Supplier Discounts
- Ultimately, this is the goal of factoring. With your new-found cash flow you can now go after larger contracts and bigger clients. The big guys often take longer to pay and it’s difficult to perform big jobs or fill larger orders when you don’t have the cash flow to sustain it. The ability to grow your business is The Paragon Factor.
- 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 cost.