Payroll Funding through Factoring
Paragon has been providing Payroll Funding to IT, telecom, staffing, security guard, and other service companies, for over 20 years. Nothing is more stressful for a growing business than worrying about meeting payroll each week. Lingering receivables can cause a strain on company cash flow. Our Payroll Funding program gets you the money you need on a weekly basis through the factoring of your accounts receivables.
We understand the demands rapid growth puts on cash flow, the pressure of meeting payroll and benefit premiums. We offer up to 92%, same day—wire transfer, advance against invoice for our Payroll Funding clients. After the invoice is paid we deduct our fees and remit the balance back to you. Depending on volume, the discount fee can be as low as 1%. Each account is handled individually. You will be assigned an account executive, a real, live person that you get to know, as a single point of contact. They get to know you as well and how you want your account handled.
Paragon offers true same-day Payroll Funding. Once an account is established and we receive a fax or electronically generated copy of the invoice with any backup documentation by 10-11am, funds will typically be wired to your account by 4pm that day.
Paragon has built its reputation by offering the best customer service possible. This coupled with our competitive rate structure has helped Paragon become one of the premier factors. If you sell a product or provide a service for credit worthy customers, there is no need to wait 30-90 days to get paid. Paragon can advance funds to you the same day you invoice your customer and follow through on those invoices. We can verify acceptance, do credit approvals, collections and enhance your ability to operate your business without worrying about working capital, payroll, or past due obligations.