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Paragon Financial Helps Luxury Shopping Bag Importer with $550,000 Factoring Line of Credit and Ven

Scottsdale Arizona business is able to grow with accounts receivable financing line and vendor guarantees

 
PRLog - Nov. 23, 2012 - FT. LAUDERDALE, Fla. -- Scottsdale Arizona business is able to grow with accounts receivable financing line and vendor guarantees

Paragon Financial Group announced that they have provided a  $550,000 accounts receivables factoring line o (http://www.paragonfinancial.net/)f  credi (http://www.paragonfinancial.net/)t, and vendor guarantees to a luxury shopping bag importer with headquarters in Scottsdale, Arizona. The financing will enable the company to continue to pay their suppliers in China and distribute goods to their client base here in the United States.

The company, which has been in business for over 10 years, ran into challenges when their suppliers refused to extend their credit. They had reached their credit limit with the supplier in China, and the supplier was no longer willing to release orders without first receiving payment. The company was not able to make the payment to the supplier, as they were  waiting for accounts receivables (http://www.paragonfinancial.net/how-it-works/invoice-fact...) from their local distributors.

“In this case, we were able to offer a vendor guarantee to the manufacturers in China”, said Michael Rossi, President of Paragon Financial Group“. “This means that we were in direct communication with the company our client was buying product from China, and we guaranteed them that as soon as the goods were shipped, arrived, and were accepted by the end user, Paragon would provide them direct payment from the proceeds of the factoring. We have a number of clients that import goods from around that world. In the end, the suppliers are relying on the strength of Paragon’s guarantee.”

Without Paragon coming in, negotiating with the companies overseas manufacturers, and extending a factoring line of credit, the company would have been unable to continue to fulfill their client’s orders. With Paragon’s factoring line of credit combined with their vendor guarantee, the company is now able to continue importing their goods from China and selling to their distributors here in the United States, with continued growth in the future.

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 for receivables financing, government contract financing, payroll funding, and purchase order financing. For more information visit  www.paragonfinancial.net

Contact Information

William Lesnick


Paragon Financial Group

http://www.paragonfinancial.net

407-603-4043

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Contact Email:
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Source:Paragon Financial Group, Inc
Phone:800-897-5431
Zip:FL 33316
Location:Ft. Lauderdale - Florida - United States
Industry:Marketing, Travel and leisure
Tags:cash flow, account receivables, factoring, paragon financial, paragon cash flow
Shortcut:prlog.org/12029442
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