IT Staffing, Maryland

Posted by on May 29, 2013 in IT Staffing Company, Success Stories | 0 comments

Paragon has provided a $250,000 invoice financing line to a Maryland IT Staffing Firm.

Read More

IT Consulting, Wisconsin Factoring

Posted by on April 22, 2013 in IT Consulting, Success Stories | 0 comments

Paragon has provided a $650,000 invoice factoring line of credit to a Wisconsin IT consulting firm.

Read More

How Factoring Invoices Can Help Consulting Firms

Posted by on July 28, 2011 in | 0 comments

All companies need money to operate. Without adequate capital, it is impossible for a business to keep its doors open.  Companies generally depend on a mixture of revenue and debt in order to pay their bills and fund expansion. Bank loans are the most common source of debt of businesses. However, they can be difficult to obtain, especially today when banks are less apt to loan out money. An alternative to this is invoice factoring. This type of financing is available to businesses in a variety of industries. Consulting firms are one type of businesses which could benefit greatly from factoring invoices. Consulting firms may sometimes find it difficult to meet their financial obligations because they often invoice their clients. As a result, they do not get paid until after services are rendered.  This may be 30 to 60 days afterwards which can place a huge strain on a businesses’ working capital. Factoring invoices allows companies to be advanced nearly the full value of their outstanding invoices, typically between 70% and 90%.  There are a number of benefits to this type of financing. They are as follows. Factoring invoices means fast money: Consulting companies would be able to collect money for their invoices right away, instead of waiting the 30 to 60 days they would normally have to.  The invoice factoring process allows businesses to receive funds in as little as 24 hours.  This can be a tremendous help to companies that need money fast. Factoring invoices means no need for bank loans: Many companies rely on bank loans to get the money they need. These types of loans are available for some companies but not all. Those with average-to-poor credit or new businesses may find it difficult to find a bank that will loan them money.  Conversely, invoice factoring is available even to businesses with poor credit histories or those that have only been in existence for only a short amount of time. Factoring invoices means support services: The factoring company will collect on the invoices via letter or a phone call if necessary. They will then return the balance to the company they purchased the invoices from, minus a fee. Consulting companies can access immediate cash simply by factoring invoices.  Instead of waiting 30 to 60 days to be paid by their clients, they are able to receive perhaps much needed money, extremely quickly. This financing option would allow a consulting company to generate the capital they need to pay their fixed expenses, purchase office supplies, traveling costs to meet with clients and even expansion. All of these obligations can be made without taking out a bank loan or relying on the capital that a business has on hand when they choose to factor their...

Read More

Consulting

Posted by on July 27, 2011 in | 0 comments

Invoice Factoring & Receivable Financing For Consulting Firms Working Capital in as little as 24 hours Get up to 90% of your invoice advanced Ensure Payroll is Met Develop Cash Flow Program Client Credit Services Accounts Receivable Management Receivable Financing For over 20 years Paragon Financial has offered consulting businesses an alternative to conventional Bank Financing. When the banks would not offer financing or too little, Paragon offers consulting firms cash flow programs through the invoice factoring, purchase order financing and accounts receivable financing. Waiting 30-90 days for payment of an invoice ties up your working capital. By receiving payment immediately upon invoicing, through our factoring program, you will have the money to meet payroll, grow your consulting firm, and pay suppliers. We’ll wait for your customer to pay. Simply put, factoring means that Paragon advances you up to 90% of the invoice amount immediately, and gives the remaining balance when your clients make full payment. Here’s how invoice factoring for consulting firms works in three simple, easy steps: Your consulting firm provides goods or services to creditworthy customers and then invoices them with a copy sent to Paragon. Paragon will fund your business with an immediate payment of  up to 90% of the received amount. Customers make payment directly to Paragon according to the terms of the invoice, and Paragon return the balance of the paid invoice to you minus a fee. It’s simple as that! Get started immediately by filling out the simple and quick online funding application. The Paragon Factor Gives You The Power To Make Things Happen Now Keep Capital Flowing Without Increasing Your Debt This is not a loan. Paragon gets you money for your completed work, now. We don’t ask for equity in your business, you retain full control. Client Credit Services Paragon can act as your in-house credit department at no cost to you. Before doing business with a new customer, let Paragon give you a comprehensive payment and credit history so you can avoid problem clients. Accounts Receivable Management Paragon provides on-line, real-time reporting. You can log on anytime and see updated aging reports, collection reports, and more. Backdate 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. Flexibility Paragon’s agreements give you the flexibility to factor what you want when you want. You choose which accounts that you wish to factor. Unlike some other companies, Paragon does not require you to factor everything. We only want you to use factoring if and when it’s beneficial for you. Get Supplier Discounts – Win More Business The ultimate goal of invoice factoring is to increase your available funds. This will enable you to go after bigger clients and larger contracts. Often, you will find that it takes the big guys longer to pay. This can lead to difficulties in filling larger orders and performing larger jobs. Helping you to grow your business is the purpose of The Paragon Factor. Increased cash flow can enable you to quickly pay your suppliers. This can allow you ask for trade discounts. Often, as little as a 2% quick pay discount can cover some, if not all, of your factoring costs. GET FAST FUNDING FOR CONSULTING FIRMS! Apply Securely, call 888-400-5931 ext 1 or email us. Money When Your Business Needs It...

Read More

Back to Top

Get Started Immediately