Chicago

Posted by on December 17, 2014 in | 0 comments

Top Chicago Provider of AR Financing, Invoice Factoring and Purchase Order Financing In the Chicago Area?  312-628-1308 helpdesk.chicago@paragonfinancial.net Fast, Secure Online Application Facturación Amistosa en Español For 23 years, Chicago businesses have been choosing Paragon Financial to meet their working capital needs through Paragon’s receivables factoring & purchase order funding programs.   Chicago’s largest employers include Advocate Health Care, Walgreens, AT&T, United Continental Holdings Inc., Abbott Laboratories, J.P. Morgan Chase, Allstate Corp., and Jewel-Osco. From manufacturers to transportation/distribution, from info-tech, R&D, and green energy to financial, business owners have successfully grown their companies with Paragon Financial’s invoice factoring, AR management, credit protection and purchase order financing programs. Contact us today to get the working capital you need for your Chicago...

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34th Annual National Convention of the US Hispanic Chamber of Commerce

Posted by on September 16, 2013 in Small Business | Comments Off on 34th Annual National Convention of the US Hispanic Chamber of Commerce

About 7,000 Hispanic and non-Hispanic business owners and corporate executives meet through tomorrow in Chicago for the 34th Annual National Convention of the US Hispanic Chamber of Commerce (USHCC). The organization represents almost 3 million Hispanic businesses in the country that contribute $465 billion annually to the US economy, and growing. According to estimates by HispanTelligence, the amount of Hispanic-owned companies is expected to grow almost 42 percent to 4.3 million in the next six years, and increase revenues to more than $539 billion (2012 data). “Hispanic-owned businesses continued to grow during the economic recovery. Small businesses keep fueling the American economy, they always have and they always will. Among them, Hispanic enterprises are growing at a faster rate than the general market,” Nina G. Vaca, Chairwoman Emeritus and Past President of the USHCC, told VOXXI. Read more...

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Illinois Healthcare Technology Company – Accounts Receivable Financing

Posted by on June 19, 2012 in Success Stories, Technology Developer | 0 comments

  Entrepreneur Turns to Paragon for Crucial Funding Client: A technology and software developer headquartered in Deer Park, Illinois Industry: Healthcare Situation: The Company, led by a serial entrepreneur with a track record of building successful companies, developed an innovative monitoring device for the Canadian Government Healthcare System. It enables patients newly-released from the hospital to communicate with a registered nurse and get advice via video and chat function so they don’t have to go back to the hospital and be readmitted for minor issues that can be addressed remotely. The Company was working with Toshiba and Motorola to manufacture parts, and with another company for assembly. But the Canadian government took 120 days to pay, and the Company needed to pay Toshiba and Motorola for parts in a timely manner. They looked into other factoring companies who were unwilling to work with them for two reasons. First, their multi-million dollar exposure with a 100 percent concentration debtor in the government; and second, the fact that the Canadian Health Ministry took so long to pay. The Deal: With much experience working with government entities, Paragon Financial had the expertise and patience to help. The challenge: the company already had two equity investor groups who had liens against Company assets. Paragon negotiated with the investor groups to achieve a subordination on the receivables. We provided a $2 million factoring line of credit, and their very first invoice was for $1.4 million! Paragon experts had to dive deep into the Canadian Health Ministry infrastructure to get the proper signoffs. Our diligence paid off when we received written verification from the Deputy Minister of Health, the top person in the department. The Result: Our factoring line of credit and our government experience – sealed the deal for the entrepreneur. The Company now has the ability to pay their suppliers and fill the Canadian Health Ministry’s large orders. It also gave them the working capital they needed to grow the business. About Paragon: For over 23 years, Paragon Financial Group has provided working capital solutions for growing companies throughout the U.S. They serve small to large-size companies across a wide variety of industries through accounts receivable, invoice factoring, and purchase order financing up to $3 million per month in volume. Paragon is a leading source for receivables financing, government contract financing, payroll funding, and purchase order...

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Chicago Illinois IT Staffing Company – Invoice Factoring

Posted by on April 23, 2012 in IT Staffing Company, Success Stories | 0 comments

Paragon Financial Group announced that it has offered a $550,000 invoice factoring line of credit to an IT staffing group headquartered near Chicago, IL. The facility will enable the company to meet ongoing payroll needs. Read More

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04/19/2012 – Paragon Financial Group Provides Payroll Funding for Chicago IT Staffing Company

Posted by on April 19, 2012 in | 0 comments

FOR IMMEDIATE RELEASE Fort Lauderdale, FL– April 19, 2012: Paragon Financial Group (Paragon) announced that it has offered a $550,000 invoice factoring line of credit to an IT staffing group (Company) headquartered near Chicago, IL. The facility will enable the company to meet ongoing payroll needs. The 13-year-old Company is a leading provider of Information Technology solutions including Data Warehousing, Quality Assurance, Java, Applications, and Networking. With extensive domain knowledge in many verticals, the Company is considered to be one of America’s leading information technology and knowledge process outsourcing organizations. With multiple offices and service locations overseas, their customers include some of the biggest organizations in Europe, North America and U.S. They had been using another large company for their factoring needs, but their volume had dropped. Their previous factor called Paragon and asked if we could take over the business – the account, although a good customer, had dropped below the monthly volume requirements. “We’re always happy to take on a referral from a colleague,” said Michael Rossi, President of Paragon Financial Group. “This established Company was facing the loss of their factoring resource, a crucial tool in the staffing industry. We made the transition seamless for them, their customers, and especially, their employees.” With Paragon’s factoring line of credit, the Company will be able to meet weekly payroll needs without having to wait up to 60 days for receivables. ABOUT PARAGON FINANCIAL GROUP For over 18 years, Paragon Financial Group has provided working capital solutions for growing companies throughout the U.S. They serve small to large-size companies across a wide variety of industries through accounts receivable, invoice factoring, and purchase order financing up to $3 million per month in volume. Paragon is a leading source for receivables financing, government contract financing, payroll funding, and purchase order financing. For more information visit...

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