04/19/2012 – Paragon Financial Group Provides Payroll Funding for Chicago IT Staffing Company

FOR IMMEDIATE RELEASE

Fort Lauderdale, FL– April 19, 2012: Paragon Financial Group (Paragon) announced that it has offered a $550,000 invoice factoring line of credit to an IT staffing group (Company) headquartered near Chicago, IL. The facility will enable the company to meet ongoing payroll needs.

The 13-year-old Company is a leading provider of Information Technology solutions including Data Warehousing, Quality Assurance, Java, Applications, and Networking. With extensive domain knowledge in many verticals, the Company is considered to be one of America’s leading information technology and knowledge process outsourcing organizations. With multiple offices and service locations overseas, their customers include some of the biggest organizations in Europe, North America, and the U.S.

They had been using another large company for their factoring needs, but their volume had dropped. Their previous factor called Paragon and asked if we could take over the business – the account, although a good customer, had dropped below the monthly volume requirements.

“We’re always happy to take on a referral from a colleague,” said Michael Rossi, President of Paragon Financial Group. “This established Company was facing the loss of their factoring resource, a crucial tool in the staffing industry. We made the transition seamless for them, their customers, and especially, their employees.”

With Paragon’s factoring line of credit, the Company will be able to meet weekly payroll needs without having to wait up to 60 days for receivables.

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 accounts receivable, 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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