Paragon Financial Group is funding during the COVID-19 crisis.

MBE/DBE Funding

Paragon Financial has multiple finance programs designed for Minority Business Enterprise or Disadvantaged Business Enterprises or MBE/DBE funding needs. We also have special programs for SBA 8(a) and Women-Owned Small Business (EDWOSB)and are an active member of the 8a Alliance. Working capital solutions are available for small businesses through our large corporations, federal, state, and local government MBE/DBE funding programs. We believe every type of business should have critical resources at their disposal.

MBE/DBE Funding

MBE/DBE Funding

Corporate America and all levels of government in the US have purchasing programs to do business with MBE/DBE/WOSB. Government contract financing is one of the best ways for companies to fund operational expenses that come along with doing business with the government. Being awarded a government contract can be exciting, at the same time, the overall cost of completion (or even starting) can be a huge burden.

One way to prevent the company from reaching a point where it is having cash flow problems is to sell its government contract invoices to a trusted, experienced factoring company like Paragon Financial. Since 1994, Paragon Financial has been meeting the needs of minority and disadvantaged businesses through:

Letters of Comfort or Financial Capability Certification Program

This program provides customers with contingent financing commitments so that they can demonstrate to government contracting officers and large US corporations that they possess the financial wherewithal to execute on contract awards. This results in our customers winning more, and larger, contract awards.

Vendor Guarantee Programs

Essentially, the supplier is relying on the credit and guarantee of Paragon Financial for payment of the goods. In a supplier guarantee, the vendor must at least agree to produce the goods initially. Paragon Financial will guarantee the vendor that once the goods have been shipped, and accepted by the end-user, that funds generated from the factoring of the invoice will be wired directly to the supplier. The balance between payment of the purchase order and the gross amount of the invoice will then be wired to you.

Work in Process (WIP) Funding

Work-in-process (WIP) is part of a company’s inventory that is partially completed. Paragon Financial is one of the few non-bank lenders providing WIP financing. There are numerous factors involved in funding a WIP, including a close evaluation of the manufacturing process to ensure a quality product that is delivered on time. We can leverage our manufacturing expertise to help lessen the risk for all parties involved.

Purchase Order Funding

Purchase order financing gives you the ability to have goods available for your clients from your sources before an invoice is generated. If you are a product importer, jobber, reseller or distributor, and need capital to deliver a large purchase order, purchase order funding can be a solution to fuel your business with the cash you need to fulfill your orders and improve the growth capacity of your business.

A/R Management and Credit Protection

Invoice Factoring is a form of Accounts Receivable (A/R) Management. Every Fortune 1000 company in the world utilizes it as a tool (HP factored $2 billion in A/R 1st quarter 2014) or pays the factoring company of their vendors, suppliers and service providers. We currently manage the A/R credit protection, collections and cash advances for clients receiving payment to us on their behalf from Wal-Mart, Comcast, Neiman-Marcus, Textron, Time-Warner, AT& T, the US military and many state/local/city governments, to name a few.

Government Factoring

Through our government contract factoring program, we can give you the cash that fuels your business. We understand the FAR, the culture of government and dealing with the government bureaucracy. Factors have money available now for local, state, and federal contracts in the US. We are currently funding IT staffing, lawn contracts, GCs, demolition, painters, concrete, HVAC, paving, and site preparation companies; to name a few.

Paragon Financial is registered in SAM and is compliant with the Assignment of Claims Act. We have factored federal government receivables from most departments and agencies, as well as working closely with many of the most significant Prime Contractors and the DOD. Registered Minority or Disadvantaged Business Enterprises have some incredible opportunities that aren’t generally accessible to other small businesses.

Every state has its own particular Minority Supplier Development Council typically by a department. For example, here is a list provided by the US Department of Transportation to all the State DOT and DBE Program Websites. Paragon Financial has experienced funding our clients with all levels of government and Fortune 1000 supplier diversity programs.

These links are intended to help you make new relationships with Corporate America as well as local, city, state, and federal government purchasing programs. We will continue to add to this list to help our MBE/DBE clients.

Fast funding for your Minority, Woman-Owned, or Disadvantaged Business.

Apply Securely, call 888-400-5931 ext 1 or email us.

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