10/03/2012 – Paragon Provides $1,000,000 Invoice Factoring Line of Credit to New York Food Producer

Paragon Financial Group (Paragon) announced that it has provided a $1 million invoice factoring line of credit to a food manufacturer of health-conscious quality snacks. The financing will enable the Company to expand into new geographic markets and grow their business.

Based on Brooklyn, NY, the four-year-old Company produces a line of natural, nutritious, great-tasting, whole-grain snack foods. They are committed to excellence and the overall nutritional health of consumers and sell their products through distributors and small supermarket retailers throughout New York and New Jersey. After penetrating local markets, the Company wanted to expand into new markets throughout the United States but lacked the working capital to support their growth strategy.

Through an internet search, they found a broker who recommended they call Paragon Financial. “We competed with other factoring companies on this deal, but they liked our rate structure and we were able to build a good relationship with the company,” said Michael Rossi, President of Paragon Financial Group. “They also like our expertise in dealing with all types of industries including food manufacturing and our ability to provide a facility which can grow with the Company.”

With Paragon’s factoring facility in place, the company has the stable cash flow needed to enter new markets and bring their healthy snacks to consumers nationwide.

ABOUT PARAGON FINANCIAL GROUP

For over 18 years, Paragon Financial Group has provided working capital solutions for growing companies throughout the U.S. They serve small to large-size companies across a wide variety of industries through invoice factoring, and purchase order financing up to $3 million per month in volume. Paragon is a leading source of receivables financing, government contract financing, payroll funding, and purchase order financing. For more information visit www.paragonfinancial.net.

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