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Paragon Financial Group Provides $1M Invoice Factoring Facility to Floral Distribution Company
Ft. Lauderdale, FL, 11/02/2011, Paragon Financial Group, Inc. is pleased to announce a recent funding of a new invoice factoring facility for a floral distribution company based out of Ft. Lauderdale, FL.
As a veteran of the floral industry in South America, the rose grower wanted to expand his business into the United States. An American based company was formed and after a year of planning and meeting with domestic florists, his business was finally up and running.
Since entering into the US floral industry was a more difficult mission than he anticipated, he quickly realized his business was undercapitalized. The owner consulted with Paragon’s broker associate for help, who in turn referred him to Paragon for invoice factoring. He met with Paragon’s staff to iron out details of the factoring process and to arrange a financing facility tailored to fit his needs. The factoring line of credit Paragon extended gave him the opportunity to service the entire American market.
President of Paragon, Michael Rossi, states,” It was a great opportunity for both companies. The owner was able to quickly set up factoring here in the United States without having to tap into the resources of his already established international floral business. Paragon is always ready to work with international importers looking to establish a U.S. presence.”
Invoice factoring is one of Paragon’s specialties. We provide business financing solutions not only for distribution companies, but a wide variety of businesses within multiple industries throughout the United States. Small to larger businesses can benefit from our factoring services, including payroll funding, accounts receivable factoring, and purchase order financing.
For additional information, contact:
Paragon Financial Group