Bank Turn-DownsIt is no secret that for many years, banks have not provided a friendly credit environment for small to mid-size businesses. If you are experiencing difficulties in obtaining a traditional bank loan, invoice factoring is a great solution. By using your accounts receivables, the money owed to you by your customers, you can receive immediate funding every time you invoice your customer. By not waiting 30-75 days to be paid, you will increase your cash flow and can meet your working capital needs. You can have the money for growth, payroll, suppliers, and overhead.
What Small Business Funding Challenges Do We Work With?
- Companies whose bank is not renewing their credit line
- Companies whose bank won’t increase their credit line
- Companies with SBA loans. We can offer financing in addition to your SBA loan.
- Companies with Tax Liens or past due taxes
With Paragon Financial, working with undercapitalized companies is what we do. Either through invoice factoring or purchase order financing programs, we can get undercapitalized companies the funds they need quickly. If you have a young business and you deal with creditworthy customers we can advance you up to 90% on your current outstanding invoices. We will wait the 45-60 days for your customers to pay. No longer will you have to turn down contracts or large orders because you are undercapitalized.
Paragon Financial has provided working capital solutions for undercapitalized companies for over 23 years. Our accounts receivable financing program has the flexibility to advance up to 90% of the invoiced amount. We offer not only invoice factoring programs, but we also provide payroll funding, purchase order financing, government contract financing, letters of credit, and supplier guarantees for small to larger companies across a wide variety of industries throughout the United States. We have a quick and easy approval process that can be set up in as little as 3 business days. In most cases, we provide same day funding once we receive an emailed copy of the invoice.