Twenty-one years ago, Paragon was a startup so we understand the unique challenges entrepreneurs face on a daily basis. The majority of entrepreneurs begin their business venture with little to no cash reserve. Not that they intended to start that way, but because they ran into unexpected costly hurdles. These unforeseen expenses place tremendous force on your ability to operate efficiently enough to stay ahead of your competition.
Bank’s credit guidelines are strict. Chances are unless you are a seasoned business with a proven track record and good corporate credit, a traditional bank won’t grant you a credit line. With a thin balance sheet, it’s difficult to find the funds necessary to thrive in your competitive industry.
How do Start-ups obtain Financing?
For many startup companies, their only viable asset is their open account receivables outstanding. At Paragon Financial, working with startup companies is what we do. With our AR invoice factoring or purchase order financing programs, we can provide you a lifeline of fresh, safe capital to stay on the frontline of your industry.
Paragon Financial has provided working capital solutions for startup companies for over 22 years. If you work with credit worthy customers we can advance you up to 92% of your current outstanding invoices. We will happily wait the 45-60+ days for your creditworthy customers to pay. No longer will you have to turn down big contracts or large orders because you are undercapitalized.
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 large 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 your invoices and confirm them with our friendly, professional verification process.