Security Guard Staffing, Sunrise, Florida

Posted by on September 26, 2013 in Security Guard Staffing, Success Stories | 0 comments

Paragon Financial has provided a $750,000 receivable financing line of credit to a Sunrise Florida Staffing firm providing security guard services.

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Atlanta Georgia Security Guard Staffing – Payroll Funding

Posted by on May 21, 2012 in Security Guard Staffing, Success Stories | 0 comments

Paragon Financial Group announced that it has offered a $350,000 invoice factoring line of credit to security guard staffing company in Atlanta, GA. The facility will enable the company to meet payroll needs and take on large contracts. Read More

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05/21/2012 – Paragon Financial Helps Atlanta Security Guard Staffing Company Take on Large Contracts and Payroll Needs With $350,000 Factoring Line of Credit

Posted by on May 21, 2012 in | 0 comments

FOR IMMEDIATE RELEASE Fort Lauderdale, FL– May 21, 2012: Paragon Financial Group (Paragon) announced that it has provided a $350,000 factoring line of credit to a security guard staffing group (Company) headquartered near Atlanta, GA. The facility will enable the company to take on larger contracts, meet payroll and grow their business. The 3-year-old Company provides unarmed and armed security and bodyguard work in Georgia. They offer commercial security monitoring, asset protection, event security, patrol services, and executive protection, as well as design custom security programs. They had a big opportunity to work with CVS pharmacies in Georgia, but needed factoring in order to meet the added payroll. “We reached out to them initially and have been in touch with them over the years so they knew how invoice factoring worked. Once they found themselves in the position of needing factoring, it was an easy decision for them,” said Michael Rossi, President of Paragon Financial Group. “It would have been difficult for them to fulfill the CVS contract without the proper financing in place.” With Paragon’s factoring line of credit, the Company will be able to grow their business knowing they have the resources in place to take on large contracts. 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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Raleigh North Carolina Security Guard Staffing

Posted by on December 19, 2011 in Staffing Company, Success Stories | 0 comments

Financing Growth Through Factoring Client: A Raleigh, NC area veteran-owned staffing agency providing unarmed security personnel. Industry: Security Guard Staffing Situation: The Company had won a $2 million one year self-renewing contract from the U.S. government to provide security personnel for the Mine Health and Safety Academy. These personnel would require high end security clearance, which meant higher pay, putting pressure on the Company’s cash flow. Their bank line of credit provided enough funding for their other endeavors but this project required all new financing, which the bank was not willing to provide. Without financing, the Company would have to pass on the contract and the chance for growth. Solution: Paragon provided Accounts Receivable Financing with a  factoring line of $600,000. The Company had never factored before, so Paragon worked with them step by step to ensure they were comfortable with the process. Paragon worked with the Company’s bank to subordinate their lien on this contract, negotiating an agreement that was acceptable to both parties. Paragon took care of all the red tape for the Company, working with the government contracting and disbursing offices to complete the proper paperwork and ensure the contract was officially amended. Result: The Company received the necessary funding to take on the contract and expand. And, they now have the factoring foundation in place for any other contract they pursue in the future. Get the Cash you need Today Need Fast Funding for Staffing Companies? Apply...

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Financing Your Security Guard Company With Invoice Factoring

Posted by on July 28, 2011 in | 0 comments

Invoice factoring is the perfect solution for a good number of industries. Security guard firms are in an industry that lends itself well to this sort of business financing. Such firms will find that they will be able to receive cash upfront for jobs that they normally send invoices to. Therefore, instead of waiting 30-90 days before payment, they can receive cash within 7 days after completing the job. This almost immediate access to money that they have already earned will give them more options. If they want to take on more clients, they will have the capital to do it. If they need to pay bills already outstanding, they can do this as well. In summary, invoice factoring can significantly improve any cash flow problems. Security guard companies rarely get paid up front. Therefore, the business owner has to front the costs until they are paid by the client. This will include paying workers and any other overhead associated with the job.  Depending on how that particular company bills that can be anywhere from 15 to 90 days. During this time, the company receives absolutely no revenue, unless the invoices from other jobs are coming in. Having to wait for 30 days (or whatever the payment period actually is) can be tough financially, especially for a small company. They may have difficulties paying their security guards or whatever overhead costs they have associated with their business. Perhaps the most obvious solution would be to attempt to get a loan. However, this may or may not be possible. Companies that have not been in business long enough may not qualify for a loan. Those with average to poor credit may not qualify either. Other companies may simply prefer not to carry a lot of debt. All of these scenarios leave the company in a bind. A good alternative might be invoice factoring. Invoice factoring allows a security guard company to get paid upfront for those invoices by selling them to a company willing to purchase them. A factoring company buys invoices at a discounted rate that ranges from 85%-90% of the full value of the invoice. This money is paid cash and can be used right away. After the invoice factoring firm buys the invoice, they will then collect the outstanding invoices from those that owe them. This collection service can be fantastic for companies that don’t have a collection department of their own. After all monies are collected, they are returned to the company that originally sold the invoices. The factor is paid based on an agreed upon formula. This sort of financing can be especially helpful for companies that have bad (or average) credit and don’t qualify for a traditional loan. This is because invoice factoring is dependent upon the credit worthiness of the holder of the invoice and not those who are owed...

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