The contractor established the new business to market cable sales and installation services to residential customers. With over 13 years previous experience in the industry, getting sales wasn’t he problem. Handling the growth and capital needs with receivable out 45-60 days was the problem.
A fellow veteran in the cable industry and current Paragon client recommended the contractor call Paragon to discuss what financing options would best suit his needs. The accounts receivable factoring program Paragon offers is exactly the type of receivable financing the company was looking for. The contractor settled on terms of the agreement with Paragon and is now looking forward to expanding his company with cable sales and installation services.
Aside from door-to-door cable sales, the contractor has also developed a theft proof cable enclosure system that uses multi-dwell unit (MDU) enclosures and pedestals to prevent thieves from pilfering cable from major cable providers. In 2009, the system was put to the test by Comcast in the Nashville area. The results led to an end of cable theft in that targeted area. Since then, the system has produced a 20 percent increase in customer base, which proves its performance is lucrative. The device will be used by Cox Communications and Comcast markets in Tennessee, Arkansas, and Virginia.
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