This California based door-to-door cable sales company had recently increased business by taking on a new territory with Time Warner Cable. Growth in both sales and labor resulted in an impending cash flow shortage. The owner could no longer support the increased capital necessary to fund his growth. After some initial research on the internet, he promptly contacted us by phone to be his factoring company and learn more about our invoice factoring program. The biggest issue facing our prospect was the underlying payroll tax issues with the Internal Revenue Service. The company had accrued a very large amount of debt due to non-payment of 941 payroll taxes.
A member of our sales team carefully walked him through the first few steps and was able to facilitate the implementation of a payment plan with the IRS. Without sorting out the payroll tax problems, invoice financing or any other kind of business financing would have been next to impossible.
Paragon Financials’ Managing Partner, Jon Anselma, states, “Dealing with the IRS can be very difficult, however through our experience we were able to address the IRS issues and provide a factoring facility for this cable contractor.”
Financing cable subcontractors is one of Paragon’s specialties. We provide business financing solutions for subcontractors or contractors dealing with the major providers such as Comcast, Cox Cable, AT&T, Time Warner, Mediacom, 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 accounts receivable factoring and purchase order financing programs.
For additional information, contact:
Paragon Financial Group
200 SE 9th St., Ft Lauderdale, FL 33316
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Paragon Financial has the initiative to afford growing businesses an alternative to conventional bank financing. When banks are unwilling to provide financing, Paragon can promptly offer a steady stream of cash through the factoring of accounts receivables.
Over the past 15 years, Paragon Financial has combined a strong management team with steadfast customer service to become an acknowledged leader in the invoice factoring industry. From manufacturers and distribution companies to staffing and other service-based industries, we have imparted over 2000 business owners the opportunity to grow their companies without the everyday burden that cash flow difficulties can proffer.