Invoice Factoring & Receivable Financing For Tech Companies
Paragon Financial was founded in the mid-90’s with the initiative to afford growing businesses an alternative to conventional Bank Financing. When the banks either couldn’t grant funds or bestowed too little, Paragon could promptly offer technology companies a steady stream of cash through the invoice factoring of their account receivables. We understand that waiting 30-60+ days for payment of an invoice ties 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, and pay suppliers. We’ll wait for your customer to pay. Paragon provides you with up to 92% of your outstanding receivables right now, and the balance when your clients complete payment. Here’s how invoice factoring for works in three simple, easy steps:
- Your technology company provides goods or services to creditworthy customers and then invoices them with a copy sent to Paragon.
- Paragon will fund your business with an immediate payment of up to 92% of the received amount.
- Customers make payment directly to Paragon according to the terms of the invoice, and Paragon return the balance of the paid invoice to you minus a fee.
It’s simple as that! Get started immediately by filling out the simple and quick online accounts receivable financing application. And remember, Paragon does not sign you on to any long-term contracts. Our agreements allow you the flexibility to factor what you want, when you want. You can pick and choose the accounts that you want to factor.
Paragon Gets You Money To Run Your Business
Increased Capital Without Increased Debt
Invoice factoring brings you the money that is due to you without incurring increased debt. Paragon asks for no equity in your firm and you maintain full control 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.
We Can Help You With Your Accounts Receivable
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. When discussed with you first, Paragon is fully capable of applying the heat when needed.
You decide which accounts to factor and when to do so. You decide when it is advantageous for you to factor. Paragon does not lock you into long term contracts like some other companies.
Let Us Help Your Business Grow And Prosper
Cash flow enables you to go after bigger clients and contracts. Because larger companies can take longer to pay, you may find it difficult to accomplish large jobs or to fill big orders. Giving you the capability to grow your business is The Paragon Factor. Increased cash flow can enable you to quick pay your suppliers. This can allow you ask for trade discounts from suppliers. Often, as little as a 2% quick pay discount can cover some, if not all, of your factoring costs.