03/28/2013 – Paragon Financial Announces Women-Owned Businesses are the Highest Growing Part of Their Portfolio

Posted by on April 9, 2013 in | 0 comments

FOR IMMEDIATE RELEASE Paragon Financial announces that women-owned businesses are the fastest growing portion of its portfolio. It is no wonder to us that the National Women’s Business Council 2012 Annual Report suggests our next big economic push will be led by Women-Owned Businesses (WOBs): • 33 percent of all trademarks granted to individuals and sole proprietorships in 2012 went to women. • Women own 30 percent (a total of 7.8 million) of companies, generating $1.2 trillion a year in sales. • 55 percent of women-owned businesses with receipts between $100-500K expanded or had constant employment between 2007–2009. In addition, a recent national survey by Web.com Group, Inc. and the National Association of Women Business Owners found a pervasive sense of economic optimism, and a prediction by 85% of WOB that more women will become entrepreneurs in 2013 than in years past. In a positive sign for the economy, they also plan to invest more (38 percent) or the same (54 percent) in hiring this year than they did in 2012. But all is not rosy in WOB land. Women still face significant challenges in business, including: • Increased pressure to balance business and family • Societal and cultural expectations of women’s roles, especially overseas • Facing the ‘good-old-boy’ syndrome in male-dominated networking clubs • The struggle to be taken seriously, especially in male-dominated industries such as finance For any woman who has ever been told ‘not to worry your pretty little head’ about a business issue, it’s enough to make your blood pressure spike. The issues become more pronounced when looking for financing, and many women do everything they can to avoid trying to get credit. In the past year, 78 percent of the surveyed WOBs did not seek a new or extended line of credit. More than half of them indicated they did not want to tak on additional credit while 32 percent did not think they could get credit if they tried. That’s not the case at Paragon Financial. WOBs are the fastest-growing portion of our business portfolio. Factoring with Paragon Financial offers WOBs a real solution because: • Investor confidence is not an issue. Funding decisions are based on the credit-worthiness of your customers, not on a business owners personal worth or their company’s balance sheet. • Solutions for young businesses, two years established and younger. • There’s no need to gather 3 years of back taxes and paperwork. • Large, quick growth can be handled with continued funding. Paragon has worked with women entrepreneurs since the very beginning, in industries like staffing, security, healthcare, IT, and especially government contracting which favors women-owned businesses. Paragon is committed to being the go-to resource for WOBs looking for capital with invoice factoring, purchase order financing and other non-conventional programs. 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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Women-Owned Company Financing – Miami Florida

Posted by on March 26, 2013 in Importer, Success Stories | 0 comments

Client: Importer of Beauty Accessories Industry: Importer Situation: Located in Miami Florida, this Woman Owned Business (WOB) imports beauty accessories such as children’s hair clips, rings, and other plastic costume jewelry from China. Maria has been successfully operating for 30 years, selling to domestic companies such as Walmart, Dollar Tree, and retail Christmas shops. Internationally, she sells to Walmart Mexico and stores in Chile. She is constantly traveling abroad and negotiating with suppliers. Since the success of her business relies on the merchandise she selects, purchases and resells, she needs not only a good eye for fashion trends but a steady flow of working capital. But in 2002, the FDIC closed her Miami lender unexpectedly. Overnight, she found herself without financing and she needed a solution, fast. A broker introduced her to Paragon, and that, she says, was the start of a profitable and long-lasting relationship. She appreciated their honesty and flexibility, and immediately felt a sense of trust. “It has been my life experience that with good relationships you can get more than you can with a lot of money,” she says. Solution: By factoring her accounts receivables, Paragon was able to support Maria and her company with a line of credit within 24 hours. We’ve supported her company’s growth for over 15 years now, currently with a $3 million line of credit that helps her pay suppliers for the goods to be shipped, and gives her the cash flow she needs for payroll and growth. The extended time it takes for her supplies to be shipped internationally could have left her with a serious lagtime in funding, so Paragon created an out-of-the-box solution: on-the-water advances. This funding mechanism occasionally advances the Company cash against the value of goods that are in transit, and augments her A/R financing. The Result: In the beginning, Maria says Paragon’s belief in her and her business allowed her to follow her dreams and keep her business running honestly and with dignity. Today, receivable factoring allows the Company to grow, take on new orders, work with major retailers without a financial limitation, and more importantly, create financial stability for her family. Business is thriving and she is pleased with the attention and respect she receives from Paragon. She says she is constantly solicited by other factors and even banks, but she chooses to remain with us. “Right now I could finance with anyone I choose, but I choose Paragon because they have supported me for over 15 years through good years and not so good years. They have been there for me when I needed them the most and we have built a solid relationship that has been beneficial for both our...

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