Invoice Factoring and Receivable Financing For Automotive Supply Companies
- Working Capital in as little as 24 hours
- Get up to 92% of your invoice advanced
- Ensure Payroll is Met
- Develop Cash Flow Program
- Client Credit Services
- Accounts Receivable Management
- Receivable Financing
Are you selling to companies like AutoZone, importing tires, selling to dealerships, distributing parts, are you a tier 2 or 3 supplier to the car manufacturers? We can provide fast and easy financing to a full range of automobile suppliers with our working capital programs tailored to meet your specific needs. Programs include and are not limited to invoice factoring, purchase order financing and accounts receivable finance. We offer growing auto suppliers an alternative to conventional bank financing. Paragon can offer automotive supply companies a steady stream of cash through the factoring of their account receivables. As a supplier, you can’t wait months for payment of an invoice tying up your working capital. By receiving payment immediately upon invoicing, through our factoring program, you will have the money to meet payroll, grow your company. Paragon advances your automotive supplier company up to 92% of the invoice amount immediately, and provides the remaining balance when your clients settle in full.
Improve Cash Flow Without Additional Debt
Invoice factoring is not a loan, so you’re not incurring any debt. We ask for no equity stake in your company. Money immediately upon completion of work. You maintain full command of your business.
Customer Credit Services
At no extra cost, Paragon now acts as your in-house credit department. If you’re thinking about doing business with a new client, give Paragon a call. We’ll give you detailed information on their payment and credit history. Paragon can help you stay clear of doing business with bad companies.
Accounts Receivable Management
Paragon provides on-line, real time reporting. You can log on anytime and see updated aging reports, collection reports, and more. Back date certain reports and print them out directly for internal use or accounting purposes. Paragon is not a collection agency, but we do have a team of callers that put in friendly reminders to accounts when they get past due. We make sure to handle all calls in a professional manner. If we discuss it with you first, Paragon is fully capable of applying the appropriate pressure when needed.
Here at Paragon, we allow you to use invoice factoring when and if it is beneficial for you and your company. We do not ask you to sign on to any long-term contracts. With Paragon, you choose the accounts that you want to factor and, unlike other companies, we do not require you factor the entire account. You get the flexibility to factor what you want, when you want, if and when it’s beneficial for you.
Available Cash Lets You Win More Business And Get Discounts From Suppliers
Big companies can take longer to pay you. This can restrict your available cash and make it difficult to complete orders or perform larger jobs. Invoice factoring can give you the available cash to quick pay your suppliers. As little as a 2% quick pay discount can cover the greater part of your factoring cost.