03/09/2012 – Paragon Financial Group Helps Miami Seafood Importer Grow With $500,000 Accounts Receivable Financing Line

FOR IMMEDIATE RELEASE

Miami, FL – March 9, 2012: Paragon Financial Group (Paragon) today announced that it provided a $500,000 accounts receivable financing line of credit to a leading importer and wholesaler of seafood (Company). Headquartered in Miami, FL, the Company imports the finest fresh and frozen seafood from Peru, Ecuador, and Chili then resell it to U.S. distributors. The facility will provide ongoing working capital, enabling the Company to expand.

With generations of family members in the business before her, the Owner launched the Company over eight years ago. From early on she realized the importance of having a reliable funding source in place to support the Company’s working capital needs and growth. However, the Company’s previous funding source lacked the ability to access credit information for many of the Company’s customers. The factor excluded these customers from eligible collateral which negatively affected the company’s cash flow and hampered its growth. The Company began its search for a new financing source who would have knowledge of the seafood industry, access to credit information on its customers, and the ability to offer purchase order financing. They found all of this with Paragon.

With a factoring line from Paragon, the Company can now access more of the cash flow they need to run and grow the business. “The demand is there for the Company’s products. With the increased cash flow, they are able to purchase a greater volume from suppliers and negotiate better pricing, volume discounts, credit terms and shipping schedules. Our line provides them the means to improve their financial performance, build more favorable relationships with suppliers, and provide the high-quality products that their customers expect,” said Michael Rossi, President of Paragon Financial Group.

“Additionally, the Owner now has peace of mind when pursuing new business knowing that we have the ability to get the credit approvals she needs,” Rossi added.

ABOUT PARAGON FINANCIAL GROUP
For over 25 years, Paragon Financial Group has provided working capital solutions for growing companies throughout the US. They serve small to large-size companies across a wide variety of industries through accounts receivable and purchase order financing for 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.

  • Get Cash Today

    Best Factoring CompanyGet the Cash You Need Today

    Just fill out this quick & easy form!

  • This field is for validation purposes and should be left unchanged.
Get Cash Today
  • Quick Contact Form
  • This field is for validation purposes and should be left unchanged.

Back to Top

Best Factoring Company

Get Started Immediately