10/21/15 – Paragon Financial Sees Oil and Gas Industry Suppliers Moving to Non-Recourse AR Financing

Posted by on October 20, 2015 in | Comments Off on 10/21/15 – Paragon Financial Sees Oil and Gas Industry Suppliers Moving to Non-Recourse AR Financing

MIAMI, FL — In the 3rd quarter of 2015, Paragon Financial has experienced a sharp increase in funding deals in the oil and gas industry. Rising debt payments and shrinking revenues are putting oil and gas companies in a difficult cash flow situation. As a result, their suppliers are feeling the pinch with payments taking longer than in the past. The oil and gas suppliers are opting for non-recourse factoring of their accounts receivable in order to keep their working capital at a healthy level. According to a September 2015 report by the U.S. Energy Information Administration (EIA), a group of 44 onshore oil producers, outputting 2.7 million barrels of oil production, are struggling with falling oil prices. For the 2nd quarter of 2015, an estimated 83 percent of the operating cash flow is going to debt payments. Chris Curtin, Paragon Financial’s National Sale Manager said, “With the price of oil low and oil companies net worth dropping, traditional lenders are severely limiting vendors and supplier borrowing power. This ongoing cash crunch is trickling down to oil and gas suppliers,  vendors and distributors. We are seeing a sharp increase in funding deals as they move towards factoring their accounts receivables as a solution to their own working capital needs. Paragon’s non-recourse accounts receivable factoring programs are especially valuable in this unstable environment.“ According to the EIA, oil companies have been borrowing excessive amounts of money to continue to operate. With oil prices in a low trading range, it is becoming increasingly difficult for indebted companies to secure fresh loans. As an example, Oklahoma-based driller Samson Resources Corp. filed for chapter 11 bankruptcy on September 16. Non-recourse factoring help protect Paragon Financial’s clients against oil and gas company bankruptcies. About Paragon Financial Group For over two decades, US companies across all industries have selected Paragon Financial to meet their working capital needs. Non-Recourse Accounts Receivable Facilities are available up to $3,000,000 USD. From government contractors to distribution companies, from staffing firms to manufacturers; business owners have successfully grown their companies with Paragon Financial’s Non-Bank Invoice Factoring, Accounts Receivable Management, Credit Protection and Purchase Order Financing Programs. For fast funding now, please call 888-271-9347 ext 1 or visit our website...

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Paragon Helps Oil/Gas Industry Suppliers Stay Afloat

Posted by on March 16, 2015 in Business Financing | Comments Off on Paragon Helps Oil/Gas Industry Suppliers Stay Afloat

From Texas to Alaska, crude oil prices are plummeting, rig counts are falling, drilling permits are down and so is employment. At the same time, banks are tightening lending terms along with credit lines for oil, gas and energy suppliers. Financing is becoming harder to come by, but these same businesses must have working capital to get through times of cheaper gas prices. The goods news is oil prices are cyclical and lower prices will eventually lead to more demand. Invoice factoring and PO Funding is perfect for oil/gas suppliers to weather the storm. When banks are no longer lending, Paragon helps provide crucial working capital. They help entrepreneurs go beyond banks limited credit lines and inject their company with cash fast and efficiently. Ready for fast, secure funding now? Paragon Financial has been providing non-recourse invoice factoring and purchase order financing with credit protection to oil, gas and energy suppliers for over 20 years. We work closely with you to provide a working capital solution that fits your company’s needs. Please contact our National Sales Manager, Chris Curtin via email or toll-free at 888-400-5931 ext 1. Money When Your Business Needs It...

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01/31/2015 – Paragon Financial Group Sees Large Increase in Food & Beverage Import Industry Financing

Posted by on January 31, 2015 in | 0 comments

FOR IMMEDIATE RELEASE Ft. Lauderdale, January 31, 2015 – Paragon Financial Group has seen a major increase in the working capital needs of their food & beverage importer clients throughout the last quarter of 2014 and into 2015. Paragon’s import clients closely followed the biggest revenue gains in US food & beverage imports (US Census Bureau) between 2013 and 2014 including wine, beer and spirits, meat products, fish, nuts, coffee and olive oil. “We have seen an increased demand for funding with many of our clients importing food from regions such as Spain, Chile, Peru, Ireland and Italy. Paragon is well positioned to fund these food & beverage import businesses. We quickly get import businesses the critical working capital they need”, said Jon Anselma, Paragon Financial’s Managing Partner. Paragon Financial’s premium meat import clients have seen the largest boost in financing needs along the entire supply chain. Last year, the United States imported around $4.8 billion, worth of premium grass-fed, hormone-free beef according to the New York Times. Anselma said, “This month the US lifted a ban on beef imports from Ireland after more than 15 years. Ireland’s beef exports to the US may total 119 million dollars this year. Readily available working capital is required for importers to take advantage of these opportunities. We already see an impact on funding requests.” Wine, beer and spirit importers have also seen a large demand for working capital. Much of the demand is from an increase in sparkling wine imports which is up 11.54 percent with overall wine imports up 2.53 percent over the same 10-month period last year, according to WorldCity analysis of the latest data. About Paragon Financial Group For over 20 years, US companies across all industries have selected Paragon Financial to meet their working capital needs. From government contractors to distribution companies, from staffing firms to manufacturers, business owners have successfully grown their companies with Paragon Financial’s invoice factoring, AR management, credit protection and purchase order financing programs. To get funded now, please call 888-271-9347 or...

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Accounts Receivable Financing vs Business Loans for the Oil and Gas Industry

Posted by on August 10, 2014 in Accounts Receivable Factoring, Accounts Receivable Financing | Comments Off on Accounts Receivable Financing vs Business Loans for the Oil and Gas Industry

What do Texas, Colorado, Oklahoma, West Virginia, Wyoming and North Dakota have in common? They were all recently named as six of the top 10 fastest growing states in the country and all of them can name domestic oil and/or natural gas production as a big part of their success. These states join Alaska and California in fueling our country. Domestic energy production is making a serious impact on the nation’s economy. Cheaper and more available energy may even help bring back manufacturing jobs to the country. America is returning to our roots by using the resources we have to achieve success. Thomas Edison once wrote “The reason a lot of people do not recognize opportunity is because it usually goes around wearing overalls looking like hard work.” The growth of these industries is positively changing the business environment. The prosperity is expanding to a huge group of support industries such as water haulers, frac sand haulers, roustabouts, vacuum trucks, environmental clean up, excavating / dirt work, tank cleaners, pressure washing, component manufacturers, inspection services, flowback testing, gravel pit suppliers and rig movers. All of these providers are experiencing the pros and cons of growth in their companies in a new environment. These operators are excellent at providing the support services and have valuable technical skills but may not be accustomed to the demands of managing cash and business operations during the rapid growth they are experiencing. Success can cause some unexpected challenges, especially when their sales are growing but their cash seems to always be short. Business owners may find that slowly collected billing is tying up their working capital, yet most are not interested in having their own financing department. As we have all been told repeatedly, banks are tightening their credit standards due to substantial losses and tighter government regulations. There was even a period of credit freezes. This is happening at the exact time the domestic energy providers and their suppliers have a growing need for cash. Business loans are no longer be a good fit for these companies. Paragon Financial provides an alternative to business loans based on the oil and gas suppliers accounts receivable. This means the supplier gets cash immediately without having to wait for the customer to pay. Paragon also works with companies that have IRS issues, client concentration or with startup companies. They are also one of the few factoring companies to provide credit protection reducing risk for their clients. At Paragon Financial we have been funding oil and gas vendors for over 20 years. We understand your specific industry needs.   Give us a call at 888-400-5931 today, fill-out the form to the right or chat with...

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Oil & Gas Growth Along the Entire Supply Chain

Posted by on May 21, 2014 in Business Financing | 3 comments

The oil and gas boom continues into 2014 and its impact is wide to a myriad of industries and suppliers. The oil and gas boom is producing millions of jobs with the hydrocarbon sector creating jobs faster than Silicon Valley. Employment is up 40% in the oil and gas fields since the recession began in late 2007. Every one of the 10 states like Texas, Oklahoma and North Dakota where hydrocarbon production is on the rise, overall employment growth has outperformed the nation. Direct employment in the oil and gas industry rose 40% from 2007 through 2013. Compare that to the paltry overall U.S. economy and job growth in the same period. The resulting jobs are not just temporary but an important part of building middle-class jobs ranging from information services to training, health care, housing, education and related manufacturing. Since mid-2009 U.S. oil production has risen 60% along with a 50% collapse in oil imports. The impact has been billions of dollars in new economic value. New plant and equipment investment have increased among industries that use petroleum products such as agriculture, plastics and pharmaceuticals along with suppliers and services to these industries. Over 75% of America’s oil and gas production comes from some 20,000 companies. These small and midsize companies, and thousands more in the supply chain are reaping the benefits of the oil boom. The U.S. shipping industry is experiencing a boom of its own as demand increases for the ability to move oil and liquefied natural gas between U.S. ports or overseas. U.S. shipbuilders are having their own substantial growth experiencing their largest boom in more than 20 years according to the U.S. Department of Transportation. Even the importance of ports in the US are shifting. Mid-year in 2013, the Port of Houston surpassed the port of New York City becoming the nation’s top export market. The top exports were: Petroleum and coal products –  $36.6 billion Chemicals – $31.2 billion Machinery, except electrical – $15.2 billion Computer and electronic products – $6.7 billion Oil and gas extraction – $5 billion At Paragon Financial we have been funding oil & gas suppliers along the entire supply chain for over 20 years. We understand the industries involved and your specific needs.   Give Paragon Financial a call at 888-271-9347...

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