07/2/2014 – Paragon Financial Group, Inc. Creates Unique Programs to Meet the Funding Needs of Minority Business Enterprise or Disadvantaged Business Enterprise (MBE/DBE)

Posted by on July 2, 2014 in | 0 comments

FOR IMMEDIATE RELEASE Ft Lauderdale FL – July 2, 2014: Paragon Financial Group, Inc. has developed unique programs designed to meet the funding needs of Minority Business Enterprise or Disadvantaged Business Enterprise (MBE/DBE). These programs are available for US companies through Paragon Financial’s corporate, federal, state and local government MBE/DBE programs. Paragon Financial created these programs to meet the specific funding needs of minority and disadvantaged businesses through: Letters of Comfort or Financial Capability Certification Program: This program provides MBE/DBE clients with contingent financing commitments allowing them to demonstrate to government contracting officers and large U.S. corporations they possess the financial wherewithal to execute on contract awards. This results in Paragon Financial’s MBE/DBE clients winning more and larger contracts. Vendor Guarantee Programs: A supplier or vendor guarantee allows MBE/DBE’s and their suppliers to mitigate risk by taking advantage of Paragon Financial’s credit and guarantee of invoice factoring proceeds to the MBE/DBE supplier. Vendor or supplier guarantees work especially well for start-ups or newer companies that have a limited credit profile. This arrangement allows for more goods to be sold by both Paragon’s client and their suppliers that would have otherwise been possible. It also gives large corporations and government entities the peace of mind that MBE/DBE’s can properly fulfill contracts. Work in Process (WIP) Funding: Work-in-process (WIP) is part of a company’s inventory that is partially completed and can be leveraged to obtain working capital for the MBE/DBE client. Paragon Financial is one of the few non-bank lenders offering WIP financing. Paragon Financial is able to leverage their manufacturing expertise to help mitigate risk for all parties involved. Purchase Order Funding: Purchase order financing gives a MBE/DBE client the ability to have goods available for their own clients before an invoice is generated. PO financing is an excellent solution for MBE/DBE companies that are product wholesalers, importers, jobbers, resellers or distributors. AR Management and Credit Protection: Invoice Factoring is a form of Accounts Receivable (AR) management. Every Fortune 1000 company in the world utilizes it as a tool (HP factored $2 billion in AR 1st quarter 2014) or pays the invoice factoring company utilized by their vendors, suppliers and service providers. Paragon Financial’s MBE/DBE clients receive this extra layer of security with credit protection. Government Factoring: Through Paragon Financial’s MBE/DBE government invoice factoring program, MBE/DBE clients receive the funds needed to complete government contracts. Paragon Financial understands the FAR, the culture of government and dealing with the government bureaucracy of local, state and federal agencies. Paragon Financial is registered in The System for Award Management (SAM) and is compliant with the Assignment of Claims Act. Paragon Financial has factored federal government receivables from most departments and agencies, as well as working closely with many of the largest Prime Contractors and the DOD. Registered Minority or Disadvantaged Business Enterprises have incredible opportunities that are not generally accessible to other small businesses. About Paragon Financial Group For 20 years, companies in all industries have been choosing Paragon Financial Group 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, accounts receivable management, credit protection and purchase order financing programs. To get funded now, please call 888-271-9347 or visit...

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08/22/2013 – Paragon Financial Group Announces their new Credit Facility with BankUnited

Posted by on August 22, 2013 in | 0 comments

FOR IMMEDIATE RELEASE Paragon Financial Group Inc. announces their new credit facility with BankUnited. Paragon Financial will be working with BankUnited and their business customers providing a broad range of financial and factoring programs to clients that are not quite ready for bank financing through Paragon Financial’s Invoice Factoring,Purchase Order Funding and Vendor Guarantee Programs. They will work together to assist growing business with monthly sales up to $3,000,000 with their working capital needs through a strong portfolio of factoring programs such as invoice factoring, receivables financing, credit protection, purchase order financing, government factoring, trade finance and vendor guarantees. “Our relationship with Paragon Financial is extremely important for BankUnited in order to grow and expand our presence among small and medium-sized companies”, says Rick Thill, Senior Vice President of BankUnited. Paragon Financial’s business financing programs will help BankUnited provide funding and loans to a much wider set of business customers of varying credit, growth and funding needs. Their programs allow for deposit growth even with non-bankable clients along with same day funding allowing for better cash management tools for clients. “Paragon Financial is excited about our new lending relationship with BankUnited. Paragon Financial for almost 20 years has helped the non and under bankable entrepreneur. With BankUnited’s almost 100 branches we look forward to working closely with BankUnited’s frontline personnel as we help newer and fast growth companies create new jobs and grow their businesses” says Chris Curtin, National Sales Manager of Paragon Financial. Furthermore, Paragon Financial has invoice factoring and accounts receivable funding programs available to shoulder credit risk for startups, turnarounds, bank existing and non-bankable relationships. Personal credit of the business owner is typically not an issue. Paragon Financial looks at the creditworthiness of their client’s customer. ABOUT BankUnited BankUnited has more than $12 billion in assets and more than 95 branch locations and focuses on the financial needs of growing companies and their executives, consumers and commercial and middle-market businesses in Florida’s thriving coastal regions. The bank offers a broad range of online services, treasury management tools for businesses and traditional depository and lending products. ABOUT PARAGON FINANCIAL GROUP For almost 20 years, Paragon Financial Group has provided working capital solutions for growing companies throughout the U.S. They serve small to medium-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 Financial is a leading source of receivables financing, government contract financing, payroll funding, and purchase order financing. For more information, visit https://www.paragonfinancial.net....

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Banks & Credit Unions

Posted by on August 15, 2013 in | 0 comments

The Paragon “Yes” Program for Banks & Credit Unions… Benefits for your Lending Organization: You never have to say “No” again to a Prospect or Client Increase your Client Retention Rate Increase your deposit growth even with Non-Bankable Clients Same day funding allows better management of Client NSF Fees Paragon can participate with your Bank and shoulder all Credit Risk Paragon has special programs for bankers and credit unions to help with the non or under bankable client or prospect. More information about the program can be found here. Target Clients Startups, Turnarounds, Bank Exiting and Non-Bankable Relationships Borrower’s Credit is not an issue, we focus on their Customer’s creditworthiness Client Concentration with Credit Insurance Government AR Expertise Growing Clients with sales of $30,000-$3,000,000 per month All Industries & All 50 States Our Programs Invoice Factoring & Accounts Receivables Financing Credit Protection & Receivables Outsourcing Purchase Order Funding Government Contract Financing Trade Finance & Vendor Guarantees What is Needed to get Started? Our Simple & Secure Online Application plus Open AR & Purchase Order Reports Fast Funding for bank & credit union turndowns Apply Securely, call 888-400-5931 ext 1 or email us. Money When Your Business Needs It...

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06/3/2013 – Paragon Financial Sees Increase in Purchase Order Financing Associated with Increase in US International Trade

Posted by on June 4, 2013 in | 0 comments

FOR IMMEDIATE RELEASE Ft. Lauderdale, FL – June 4, 2013: Paragon Financial Group (“Paragon”) sees exponential growth in purchase order financing demand across key industries. The United States Census Bureau’s May 2013 report matches this trend with nation’s international trade deficit in goods and services decreased to $38.8 billion in March from $43.6 billion (revised) in February, as imports decreased more than exports. Purchase order financing (PO financing or PO funding) provides an advance to a company’s suppliers against a purchase order from a qualified customer so that the company can deliver the product to its customers on time and with the quality required. Paragon Financial’s national sales manager, Chris Curtin, states, “We’ve seen rapid growth in purchase order and vendor guarantees. I believe it reflects the growth of finished goods into the US.” According to the US Bureau of Economic Analysis March exports of advanced technology products were the highest on record, climbing $4.9 billion to $27.9 billion. This is a 21.5% increase from the February level of $23.0 billion. The greatest increases came from gains in trade in the aerospace group ($1.8 billion) where we currently have a trade surplus of $5.7 billion. Exports in the information and communications group increased $1.3 billion, while exports in the nuclear technology group increased $0.6 billion. PO financing provides the cash that aerospace and technology businesses need to both fill their customers’ orders and expand their business at the same time. It is particularly useful for companies that cannot obtain traditional funding based on their own financial condition or balance sheet, for example, startups, turnarounds, and others whose balance sheets cannot support traditional banking relationships. “Our purchase order funding packages have been working well for our manufacturers, importers, distributors, wholesalers and exporter clients in 2013. Companies that sell physical goods often find purchase order funding a great option in obtaining working capital for rapid growth”, says Curtin. ABOUT PARAGON FINANCIAL GROUP For over 19 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 of receivables financing, government contract financing, payroll funding, and purchase order financing. For more information visit...

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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 Get the Cash you need Today Scottsdale Arizona Luxury Shopping Bag Importer – Accounts Receivable Factoring Apply Now Money When Your Business Needs It...

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