Scottsdale Arizona Luxury Shopping Bag Importer – Accounts Receivable Factoring

Posted by on November 21, 2012 in Bag Importer, Success Stories | 0 comments

Paragon Financial Group (Paragon) announced that it has provided a $550,000 accounts receivable factoring line of credit to a Scottsdale Arizona luxury shopping bag importer. Read More

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11/21/2012 – Paragon Financial Helps Arizona Luxury Shopping Bag Importer with a $550,000 Factoring Line of Credit and Vendor Guarantees

Posted by on November 21, 2012 in | 0 comments

FOR IMMEDIATE RELEASE Scottsdale, AZ – November 21, 2012: Paragon Financial Group announced that they have provided a $550,000 factoring line of credit, and vendor guarantees to a luxury shopping bag importer with headquarters in Scottsdale, Arizona. These facilities will enable the company to continue to pay their suppliers in China and distribute goods to their client base here in the United States. The company, which has been in business for over 10 years, ran into challenges when their suppliers refused to extend their credit. They had reached their credit limit with the supplier in China, and the supplier was no longer willing to release orders without first receiving payment. The company was not able to make the payment to the supplier, as they were waiting for receivables from their local distributors. “In this case, we were able to offer a vendor guarantee to the manufacturers in China”, said Michael Rossi, President of Paragon Financial Group“. “This means that we were in direct communication with the company our client was buying product from in China, and we guaranteed them that as soon as the goods were shipped, arrived, and were accepted by the end user, Paragon would provide them direct payment from the proceeds of the factoring. We have a number of clients that import goods from around that world. In the end, the suppliers are relying on the strength of Paragon’s guarantee.” Without Paragon coming in, negotiating with the companies overseas manufacturers, and extending a factoring line of credit, the company would have been unable to continue to fulfill their client’s orders. With Paragon’s factoring line of credit combined with their vendor guarantee, the company is now able to continue importing their goods from China and selling to their distributors here in the United States, with continued growth in the future. 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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11/01/2012 – Paragon Financial Group Provides Texas All-Natural Organic Candy Company with a $425,000 Factoring Line of Credit

Posted by on November 1, 2012 in | 0 comments

Paragon Financial Group announced that they have provided a $425,000 factoring line of credit to an organic candy company with headquarters in Dallas, Texas. The facility will enable the company to take on a new private labeling contract from a large food distributor. The company was started five years ago by a local attorney who had always had a dream of starting a high quality, all natural, organic candy business. The company prides itself on their USDA Certified Organic candy products, containing nothing artificial and amazing taste. Prior to this large contract, the company had done smaller private labeling to high end food distributors such as Whole Foods. The company approached Paragon seven months ago, when they were involved in smaller, private labeling. “We set up a relationship at that point”, said Michael Rossi, President of Paragon Financial Group. “When they recently received a very large contract from a single distributor, because of our on-going relationship we were able within days to help them obtain the line of credit they needed to be able to quickly fulfill the deal. It’s this sort of commitment to on-going sales relationships that allow us to stay in contact with our prospects and provide them the services they need when the time arrives” When they turned to Paragon their main issue was the need for a much larger amount of financing than in the past in order to fulfill an individual contract. Traditional bank financing would have been a problem because this was spontaneous growth from a sole client. When the big deal came in, because of the company’s 7-month prior relationship with Paragon, Paragon was able to quickly get them the financing they needed in order to fulfill. With Paragon’s factoring line of credit, the company now is able to take on orders for their new distributor and provide their organic candy to the masses. 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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10/18/2012 – Small Business Outlook for the Upcoming Holiday Season

Posted by on October 17, 2012 in | 0 comments

Summer is over and the kids are back in school, giving you a little breathing room to prepare for the upcoming holiday sales rush. October is traditionally a transitional month for many businesses, especially retailers and the businesses who supply them. With signs of increasing consumer confidence, this year’s holiday sales are projected to increase 4.1 percent to $586.1 billion, according to the National Retailers Federation (NRF), the nation’s retail trade association. NRF’s 2012 holiday forecast is higher than the 10-year average holiday sales increase of 3.5 percent. “This is the most optimistic forecast NRF has released since the recession,” said NRF President and CEO Matthew Shay. “In spite of the uncertainties that exist in our economy and among consumers, we believe we’ll see solid holiday sales growth this year. Variables including an upcoming presidential election, confusion surrounding the ‘fiscal cliff’ and concern relating to future economic growth could all combine to affect consumers’ spending plans, but overall we are optimistic that retailers’ promotions will hit the right chord with holiday shoppers.” Careful news readers will note recently released government data shows a crosscurrent of indicators that could impact holiday sales, including unimpressive job and income growth and an unemployment rate stuck at eight percent. However, positive indicators are emerging that show a cautious but capable consumer, such as increases in confidence and home prices. “While moderate compared to what we experienced the last two holiday seasons, the forecast is a very pragmatic look at what to expect this year given the current rate of economic growth,” said NRF Chief Economist Jack Kleinhenz, Ph.D. “There’s still some general anxiety amongst consumers when it comes to how the state of the economy is impacting their spending plans, but retailers can expect to see excitement around their promotions and plenty of bargain hunters both online and in stores in the coming months.” In addition, Shop.org just released its 2012 online holiday sales forecast, expecting sales to grow 12 percent over last holiday season to as much as $96 billion. Cash flow is crucial to being prepared For many small businesses, the holiday season is a crucial make-or-break period – holiday profits must carry them through the first few months of the new year when business slows down. Good planning now will set up a successful November/December that leads you into the new year in a strong position. A large part of the planning is making sure you have the cash flow you need for seasonal growth and to compensate for slow-paying customers. You need to have enough inventory on hand to ensure you don’t run out of best-selling items, and that takes cash up front. It’s a delicate balance – you don’t want to have too much inventory either, or you’ll end up with excess that you’ll have to mark down, which reduces profits. Another crucial planning aspect is seasonal staffing – do you have enough hands on deck to manage the sales spike? According to NRF, retailers will hire between 585,000 and 625,000 seasonal workers this holiday season, which is comparable to the 607,500 seasonal employees they hired last year. Again, that requires a steady source of working capital. “The retail industry creates hundreds of thousands of jobs every holiday season by adding new staff in stores, distribution centers, and customer service departments across the country. In addition to the newly created jobs, many retailers also offer existing staff the opportunity to work longer hours if they want,” said Shay. “New jobs help people support their families, and for some, seasonal employment can turn into a career opportunity once the...

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