Maxed-Out Lines of Credit
Growing businesses often find that their current borrowing arrangements with their bank are not meeting their needs. Banks look at your past history and balance sheet which doesn’t always reflect the true potential of a company. Due to a tight credit environment, banks have strict credit limits that they often are unable to increase to meet the demands of a growing company. With factoring, we can help support your growth since we don’t concentrate on your balance sheet. By using your accounts receivable invoices, we can provide immediate funding each time you invoice your customer. Our credit limits are based on your customer’s ability to pay, not yours.
If you have an SBA loan, we can work with them to provide additional funding. If you have a bank loan, we may be able to complement it with our funding or replace your bank.
- Companies whose bank won’t increase their credit line.
- Companies with SBA loans. We can offer financing in addition to your SBA loan.
- Fast Growing companies.
- Companies whose balance sheets don’t represent their true potential.
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 credit worthy customers we can advance you up to 92% 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 20 years. Our accounts receivable financing program has the flexibility to advance up to 95% 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.