8/08/2011 – Paragon Financial Group Announces $900,000 Payroll Funding to New York Healthcare Staffing Company

FOR IMMEDIATE RELEASE

Ft. Lauderdale, FL, 8/08/2011 – Paragon Financial Group, Inc. today announced it has provided a payroll funding line of credit to a New York-based nurse staffing agency with offices in California, New Jersey, Arizona, and New York.

The agency was initially established in 2001 to help offset the nationwide shortage of nurses.  Its ability in the recruitment and deployment of local, foreign, and allied healthcare professionals quickly established them as a fast-growing company with an opportunity to focus on the California marketplace.  In the last few years, however, the LA County budget crisis has impacted local hospitals where the agency places many of its nurses.  Invoicing these facilities under this type of economic environment has created not only delays but credit issues.

To help overcome the agency’s cash flow shortage, Paragon’s broker affiliate extended an opportunity for Paragon to contact the agency and provide financial assistance.  Despite the challenging situation with budget setbacks, Paragon was able to extend the necessary credit to LA County.  Without the ability to secure payroll funding for their biggest customer, there would not have been enough business to move forward with factoring.  With an accounts receivable factoring line established with Paragon, the company was able to continue their growth into both the New Jersey, New York, and Arizona markets.

Their owner has been very pleased with the overall experience of the factoring process, and noted, “I appreciate Paragon for being true to their commitment to helping our business when we needed it most.  I am certainly satisfied with the quality of service that Paragon has provided us.”

Paragon has provided payroll funding for staffing companies for over 21 years.  Our accounts receivable financing program has the flexibility to advance up to 92% of the invoiced amount.  Paragon Financial Group offers not only payroll funding for staffing companies, but we also provide invoice factoring, purchase order financing, government contract financing, letters of credit, and supplier guarantees for smaller and larger companies across a wide variety of industries.

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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