Company Financing with a Lien

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Financing with a lienIf your company owes the government money, and you have not arranged with the IRS to make payment on that obligation, the IRS has the authority to issue a lien against your assets, including those that you have used as collateral for loans. This includes potential liens and levies against your accounts receivable.  What happens if you need financing for working capital?

Paragon Financial is ahead of the curve in dealing with the back-taxes problem. As a leading factoring company for 20 years, we have the tools to ensure that you do not have any issues with the IRS that could hinder your ability to factor your receivables.

If you do have back-tax issues and cannot meet the obligation immediately, we also have the resources to help you negotiate a payment agreement and avoid the liens and levies that can obstruct your ability to factor your receivables.

Paragon Financial has been providing companies with tax liens funding through receivable financing, purchase order financing with credit protection and AR management for over 20 years.  Give us a call at 888-400-5931 today, fill-out the form to the right or chat with us.

 

Paragon Helps Oil/Gas Industry Suppliers Stay Afloat

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oil-gas-ar-financingFrom California to Texas to Alaska, crude oil prices are down, rig counts are down, drilling permits are down and so is employment.   At the same time, banks are tightening lending terms along with credit lines for oil, gas and energy suppliers.   Financing is becoming harder to come by, but these same companies must have working capital to get through times of cheaper gas prices.   Oil prices are cyclical and on the way down which will eventually lead to more demand.  High energy prices lead to demand falling while low prices lead to higher demand. And currently lower prices leading to higher demand is exactly what’s taking place now.

“Over the last six months, 53% of vehicles purchased in the U.S. were for light trucks of sports utility vehicles, which …use more gas than cars….That was the highest share in a decade from 51% last June, when oil prices peaked for the year….The longer prices stay low, the more you’re going to get a response of people purchasing less fuel efficient vehicle….It won’t be just the U.S. doing it,” said Jason Schenker, President of Prestige Economics.

Invoice factoring is perfect for oil/gas suppliers to weather the storm.   When banks are no longer lending factoring companies step in.  They help companies go beyond banks limited credit lines and inject their company with working capital fast and efficiently.

Paragon Financial has been providing receivable financing, purchase order financing with credit protection and AR management to oil, gas and energy suppliers for over 20 years. We work closely with you to provide a working capital solution that fits your companies needs. Give us a call at 888-400-5931 today, fill-out the form to the right or chat with us.

 

 

 

What is Single Client Factoring or Client Concentration Factoring

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Single Client FactoringThere are companies that only have one or two large clients that make up their revenue source. A good example would be a company that supplies Toyota, Cargill or Target, and these large companies are their only customer.  What happens when this company needs to obtain financing from a bank?   Banks or lenders are most likely not going to approve the company because are the lack of a diverse client-base.

At Paragon Financial, we can provide working capital to businesses that have single client or client concentration.   Your company gets the working capital it needs through credit protection, accounts receivable factoring and AR management.     Paragon has been helping companies with through single client and client concentration for over 20 years.  We understand their unique needs and can get them the cash flow they require quickly and efficiently.

Give us a call at 888-400-5931 today, fill out the form to the right or chat with us.

 

Our Broker Factoring Program

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Factoring broker commissionsFor over 20 years our goal at Paragon has been to give brokers the tools to grow your financial intermediary business and to help entrepreneurs in your community.    If you refer a deal to us, we pay commission for the life of the account. All you have to do is give us a name and a number. If we close the deal, you get the commissions. Imagine getting a check in the mail every month for a simple referral!  It can be like an ongoing salary!

Our sweet spot is companies who sell on Net 20-90 day terms with B2B or B2G Sales of $25,000-$3,000,000 per month in the US. We also fund importers of goods into the US.   Many companies cannot get financing because of tax issues. Paragon has expertise in funding companies with tax problems.

Credit protection is another “hot button” for entrepreneurs. In business there is only one thing worse than no sales, and that is selling it and not getting paid! Less than 20% of AR funders and factors utilize Credit Insurance to protect against the account debtor’s bankruptcy or insolvency. Paragon looks at credit protection as a necessity and believes that credit protection is very important for our client’s long term survival and success.

Paragon also has deep expertise in Government Invoice factoring which is another great selling tool for you. Many Banks and Factors aren’t comfortable with Government Receivables and stay away from them. Paragon encourages Govt AR & PO funding and realizes it is a great way for entrepreneurs to grow their business.

For more information visit our broker page http://www.paragonfinancial.net/for-brokers or contact Chris Curtin at chris@paragonfinancial.net, National Sales Manager, or call 800-897-5431 Ext. 221

 

Factoring Importers – Canadian Goods

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factoring-importers-canadaAt Paragon Financial we work with importers bringing in goods from Canada providing their businesses working capital to succeed.   Quickly and efficiently leveraging purchase order financing, accounts receivable financing and credit protection.

Below are several interesting facts about Canadian goods being imported into the U.S.:

Canada ranks #2 behind China for the most imports into the U.S.   U.S. goods imports from Canada totaled $332.1 billion in 2013(the latest statistics available), a 2.5% increase ($8.1 billion) from 2012, and up 50% from 2003. U.S. imports from Canada are up 308% from 1993 (Pre NAFTA). U.S. imports from Canada account for 14.7% of overall U.S. imports.

U.S. imports of agricultural products from Canada totaled $21.8 billion in 2013, our largest supplier of Ag imports. Leading categories: snack foods (including chocolate), ($3.2 billion), red meats, fresh/chilled/frozen ($1.9 billion), other vegetable oils ($1.7 billion), live animals ($1.7 billion), and processed fruit and vegetables ($1.4 billion).

U.S. imports of private commercial services* (i.e., excluding military and government) to Canada were $29.8 billion in 2012 (latest data available), up 4.8% ($1.4 billion) from 2011, and up 66% from 2002 level. It was up 227% from 1993 (Pre-NAFTA). The other private services (business, professional and technical services), and travel categories accounted for most of U.S. services imports from Canada.

Top 10 US Imports from Canada

  • 1. Oil: $119.8 billion
  • 2. Vehicles: $56.3 billion
  • 3. Machines, engines, pumps: $21.1 billion
  • 4. Plastics: $11.4 billion
  • 5. Wood: $8.8 billion
  • 6. Electronic equipment: $8 billion
  • 7. Aircraft, spacecraft: $8 billion
  • 8. Aluminum: $7.4 billion
  • 9. Paper: $7 billion
  • 10. Gems, precious metals, coins: $6.6 billion

PO and AR financing for Olive Oil Importers

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financing olive oil importersFrom Sacramento, California to Philadelphia, Pennsylvania, the U.S. has an insatiable appetite for oil olive.   And why not, the oil has no cholesterol, is high in monounsaturated fat, and high in antioxidants.  In fact, U.S. consumers devour 38.4% of the world’s imported olive oil.  They rank 3rd in terms of overall consumption behind just Italy and Spain.   Organic olive oil is even one of the top US organic imports.

U.S. olive oil imports is big business and continues to rise year-to-year.  Imports have doubled since 1997 and with the retail market consisting of 59% extra virgin, 29% olive oil and 12% light-tasting.  At Paragon we actively help olive oil importers and distributors succeed through purchase order financing, accounts receivable financing, AR management and credit protection.   Give us a call at 888-400-5931 today, fill-out the form to the right or chat with us.

 

 

IRS Factoring of Receivables Audit Techniques Guide

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tax factoring of receivablesSo, what is the IRS’ take on factoring accounts receivables?   There is a page right on the IRS’ web site that contains a thorough overview of factoring receivables. It’s informative and worth a look!

Factoring of Receivables Audit Techniques Guide

The Many Benefits of Accounts Receivable Financing

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Receivable Financing BenefitsHas your small business been searching for working capital solutions in the start of 2015?   Bank loans?  Personal credit cards?  Help from family and friends?   No way, no how.   Most likely, none of these are viable solutions for your business.   Accounts receivable financing is a surprisingly effective and efficient way to get your business the cash flow it needs.  Working capital that can be in your hands in as little as 24 hours.

Receivable Financing Benefits:

  • Up to 95% advanced in as little as 24 hours
  • We become your Credit Department with a soft touch
  • Payroll Financing
  • Personal credit issues are not a focus for approval
  • Credit protection against bankruptcy and insolvency
  • IRS tax liens and other IRS issues can often be worked around

Target Clients

  • Startups, Turndowns, Bank Exiting and or underperforming banking relationships
  • We look at our Client’s customer’s ability to pay, not your personal credit
  • Rapidly Growing Client with sales of $25,000 – $3,000,000 per month
  • All Industries

Paragon Financial has been providing receivable financing, purchase order financing with credit protection and AR management for over 20 years. We work closely with you to provide a working capital solution that fits your companies needs. Give us a call at 888-400-5931 today, fill-out the form to the right or chat with us.

Account Receivables Factoring for Machine Shops

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machine-shop-ar-factoringMachine shops have come a long way since their Industrial Revolution beginnings. Today we are talking about precision automotive, aerospace, heavy truck, construction, medical and die/mold machining that must meet the demands of today’s global manufacturing economy.   From Columbus Ohio to Sacramento California the industry employs over 78,000 people, 3,198 companies with over 12.7 billion dollars in shipments.  For job shops and contract manufacturers understanding the availability of working capital is essential to quickly adapt to today’s economic pressures.

Account receivables factoring give machine shops the ability to gain working capital fast and efficiently. Even companies that have personal credit issues, tax liens, start-ups, client concentration and other challenging funding issues can qualify for receivables financing. This type of funding allows a company to turn their outstanding invoices into working capital in as little as 24 hours.   Paragon Financial is one of the few factoring companies that offer credit protection reducing your risk across the board.

Tap into Paragon’s 20 years of experience providing machine shops working capital through accounts receivable and purchase order financing with credit protection and AR management. Give us a call at 888-400-5931 today, fill-out the form to the right or chat with us.

Working Capital with IRS Liens without SBA Loans

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IRS tax lien ar financingIn 1817, Benjamin Franklin famously wrote. “In this world nothing can be said to be certain, except death and taxes.” Your epic battle has ended in defeat. Despite your efforts to avoid it, the IRS has won the day and now there is a tax lien attached to your credit report. How will this affect your ability to succeed going forward? Where can you turn for additional small business working capital? Banks would seem to be off limits as they notoriously look at credit scores to make their loan decisions. Your best option would appear to be alternative forms of financing.

One option would be turning to government programs for help, with the Small Business Administration (SBA) being the most obvious source of assistance. The SBA does not make direct loans to the public. Rather, they partner with banks, guaranteeing a percentage of the loan or line of credit to offset the higher risk of lending to small businesses. This improves the likelihood of creditworthy companies to be approved, but banks generally do not lend to businesses saddled with IRS tax liens. They must accept the loan by their own lending criteria before they will agree to participate in an SBA guaranteed loan. Most banks look at both the financial situation of the company and its owners to make a loan decision. Thus, personal tax complications will most likely prevent small businesses from using SBA financing.

Are there other avenues for future working capital needs? Alternative funding sources are available outside of the traditional arena which can provide small business owners the opportunity to continue on their path to success despite IRS problems. Working capital funding can be obtained through the company’s actual operations, such as purchase order funding, invoice factoring and accounts receivable factoring. All of these funding sources are based more on your customers’ financial strength rather than personal or business creditworthiness. Paragon works with the IRS and creates subordination agreements to successfully fund small businesses, enabling us to meet your funding needs, tax problems notwithstanding.

Paragon Financial can advance up to 95% of purchase orders or invoices to enable your business to fulfill large orders. The funds can be accessed as a single transaction or a line of credit to fund multiple orders. Funding is based on the strength of your customers, which can help to offset the obstacles created by your small business status. Accounts Receivable factoring is also available to eliminate the wait for collections at the end of the transaction. Paragon also offers credit protection to avoid future collection losses.

At Paragon Financial we have been funding for over 20 years. We understand your specific industry needs. Give us a call at 888-271-9347 today, fill-out the form to the right or chat with us.