Paragon Financial Group Funds $250,000 Accounts Receivable Financing Line for Metal Supply Company

Aug. 24, 2011 - PRLog -- Miami, FL, 8/24/2011, Paragon Financial Group, Inc. announces its latest success story.  Paragon has recently provided a accounts receivable financing facility for a Portsmouth, New Hampshire based metal fabrication and supply company.
     
The startup metal company provides sales and distribution of stainless steel, specialty alloys, and a complete range of metal products for manufacturing, industrial, commercial, and consumer applications.  It also has a large number of customers that provide a multitude of services specifically for the government pertaining to the aerospace and military sectors.  With only a few months of experience working in this industry, the young company realized its customers are at the mercy of the government when it comes to getting paid.  This in turn creates slow paying customers and a cash flow deficiency.  

A broker affiliate referred the company to Paragon.  At this time Paragon became aware of several seriously delinquent accounts aging in the 90 day range that needed to be paid quickly.  As the factoring company, Paragon provided the quick approval that was needed to provide the receivable factoring funds they required.  

Regarding his experience working with Paragon, President of the company said, “We’ve been working with Paragon for a short while now and already have a better understanding of the Paragon process.  It has been a great help for us to continue to grow.  Our sales are up 65% over last year and probably would have been hindered without Paragon.”  The President also points out, “The account executive assigned to us is very particular and detail oriented; he doesn’t stray from the process Paragon has set forth.  He tries to accommodate our constant needs and is very diligent in responding quickly, which is critical in our fast paced environment.”

For over 17 years, Paragon has provided working capital solutions for metal supply companies throughout the US.  We service a wide variety of small to large-size businesses in many other industries through our accounts receivable factoring and purchase order financing programs.  Paragon is a leading source for receivables financing, government contract financing, payroll funding, and purchase order financing.  
 

For additional information, contact:

Lanette Tucker
Paragon Financial Group
954.524.4840 phone
954.524.3533 fax
lanettet@paragonfinancial.net
www.paragonfinancial.net