8/02/2011 – Paragon Financial Group Issues $1 Million Receivable Financing Facility to Ohio Based Cable Corporation

FOR IMMEDIATE RELEASE

Miami, FL, 8/02/2011, Paragon Financial Group has provided a receivables financing facility to a cable company that provides installation services for Time Warner Cable.  Company headquarters are located in Cleveland, Ohio, with two additional offices in Florida.

The company was founded seven years ago to provide cable installation services.  Business continued to progress with Time Warner Cable as their primary customer.  Time Warner was so pleased with their efforts that they decided to expand their territory.  The increase in sales was great for business, but the growth created cash flow and payroll funding difficulties.

The owner needed to quickly obtain financing so he could meet the increased overhead and funding for payroll.  Receivables financing was his answer.  Another factoring company referred him to Paragon Financial because the factor was not comfortable with the challenges of the cable industry and knew of Paragon’s expertise in factoring cable companies.

Michael Rossi, President of Paragon states that “Cable companies often have difficulty with cash flow and payroll funding due to having to wait 30-60 days for payment on their receivables.  That’s where Paragon comes in.  We factor the receivables and provide them with an immediate cash infusion upon completion of work.  From startup companies to the more established, we find unique ways to get companies the funds they need quickly.”

Financing cable contractors are one of Paragon’s specialties. We provide business financing solutions for cable contractors dealing with the major providers such as Comcast, Cox Cable, AT&T, Time Warner, Charter, and more.  Paragon works with a wide variety of companies within the cable industry, including cable installation, door-to-door cable sales, drop bury, disconnects, and boring contractors.  We also provide working capital solutions to a variety of small to larger businesses in multiple other industries through our receivables factoring and purchase order financing programs.

For additional information, contact:

Chris Curtin
Paragon Financial Group
954.524.4840 phone
954.524.3533 fax
chris@paragonfinancial.net
www.paragonfinancial.net

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