Invoice Factoring Provides Working Capital Solutions

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invoice factoring successInvoice factoring is an excellent funding option for your small to medium business.  Here are some of the many reasons to consider invoice factoring with Paragon Financial for your companies cash flow needs:

  • You can have credit issues but that doesn’t affect your ability to get funded.  We look at your clients creditworthiness, not yours.
  • Up to 95% advance rates with online invoice submission, reporting and D&B reports
  • The famous Paragon “Soft Touch” with your clients and contracting officer
  • Your business gets the money you need fast.  There are no long delays in getting approved compared to bank underwriting.
  • Invoice factoring works for un-bankable or under-bankable clients.
  • Start-ups, turnarounds, companies with tax liens or other IRS issues, concentration issues when you have one or very few clients and other challenging funding situations can all leverage invoice factoring.
  • Disadvantaged, minority suppliers & government contractors for all industries.
  • Your own credit department.   We are responsible for collecting payment from your client allowing you to focus on what you do best.
  • Get credit protection against bankruptcy and insolvency with every invoice factoring package.
  • Peace of mind backed by Paragon Financial’s 20 years of experience helping companies succeed.

If you would like to discuss your working capital or credit protection needs, please call 888.400.5931, e-mail us to the right or chat with us now.

Anchorage Alaska’s Top 15 Employers

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anchorage-ak-companiesAnchorage Alaska’s Top 15 Employers

1. Providence Health & Services (hospital/medical center)
2. Wal-Mart/Sam’s Club (grocery/general merchandise)
3. Carrs/Safeway (grocery)
4. Fred Meyer (grocery/general merchandise)
5. ASRC Energy Services (oil field services)
6. BP Exploration Alaska (oil and gas extraction)
7. NANA Management Services (catering/lodging/security)
8. CH2MHill (oil field services)
9. Alaska Airlines (air carrier)
10. Alaska Native Tribal Health Consortium (ANTHC) (hospital/medical center)
11. GCI Communications (communications)
12. Southcentral Foundation (hospital/medical center)
13. FedEx (air freight/courier service)
14. ConocoPhillips (oil and gas extraction)
15. Alaska USA Federal Credit Union (financial services)

Aircraft Parts Supplier Factoring

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aircraft-parts-supplier-financingThe civil aircraft and parts industry is valued at over 150 billion dollars per year and growing.   As an aircraft/aerospace parts supplier or distributor it is vital to take advantage of this growth by having the proper working capital.    This is where invoice factoring can be a highly effective funding solution for the aircraft parts industry.

There is no need to worry about your own credit with it comes to invoice factoring.   As an aircraft parts supplier you get funded based on the credit worthiness of your customer.   Paragon Financial can also work with aviation parts suppliers that have concentration issues, IRS tax lien issues and other challenging situations that create an un-bankable situation.   All of Paragon Financial’s invoice factoring and purchase order financing working capital solutions have credit protection built in.  If your client becomes insolvent or goes bankrupt you are protected.

Give us a call at 888.400.5931, e-mail to the right or chat with us now to find out more information on how we can get your fast working capital.

Build a Successful Marketing Plan – 15 Key Business Success Factors

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working-capital-successEvery marketing plan needs to include an industry analysis. Why? Because it is of critical importance to understand the industry you operate in, and to identify and track your performance to key business success factors (KSFs) for your organization.

Understanding your industry and identifying your KSFs will help in building a successful marketing plan; one that is based on measurable progress and results. A key success factor is an element of a whole that affects your business’ ability to do well in your market. Most businesses focus on between three and five of the most important (to their business) success factors. From time to time, or year to year, these key success factors may change, as the industry or the market changes.

15 Examples of Key Business Success Factors (and this is not a comprehensive list) are:

  1. Number of new customers per year;
  2. Number of lost customers per year OR the number of customers retained (it is important to understand and measure the potential customer lifetime value for each customer on a regular basis);
  3. Hire and retain excellent employees (measured by employee turn-over, job vacancies, customer satisfaction);
  4. Successful new product introductions (measured by sales and costs);
  5. Successful promotional programs (measured by sales and costs);
  6. Good/healthy financial indicators: for example, working capital, acceptable ratios (in particular debt to equity ratios), profit margins, cash flow, receivables and more;
  7. If in the manufacturing industry, high operating capacity utilization;
  8. Strong supplier network;
  9. Strong distribution network or channel;
  10. Successful product positioning;
  11. Low cost structure;
  12. Niche product/service – track the number of competitors entering and/or leaving the niche. Is the cost of entry into the market high or low?
  13. Market leader or follower or challenger, and is your relative market position and why? Are you able to support that position if under ‘attack’?
  14. Product differentiation: Do you have technology or service advantages that others can’t easily copy? How unique and differentiated is your product or service?
  15. Time to market: is your product or service able to be delivered quickly and easily; from the first point of contact to the time shipped and subsequently invoiced?

Once you have identified your specific KSFs, build strategies around those factors and integrate those strategies into your marketing and business plans to ensure business success. Develop measurement programs to help you track your progress against your success factors. You also need to assess your competition and see if your competitors’ key success factors are similar or different than yours (depending on your strengths and weaknesses and your marketing and business strategies, they might be very different). One way of comparing and assessing is to do a competitive strength analysis; find out what your competitors’ strengths and weaknesses are and build your competitive strategy accordingly. (A sample swot analysis can show you how to analyze the strengths, weaknesses, opportunities and threats that your business faces.)

For example, if retaining your existing customers is a key success factor, your business objective must be to grow sales with your existing customers. How do you do that? First, do a customer satisfaction survey to assess how satisfied your existing customers are (or aren’t). Then determine what needs to be changed and what you need to focus on. Make sure that you understand how your customers chose between competitors: is it price, service, quality, knowledge, reliability, relationships, or all of these factors? What product or service attributes are most important to your customers? What is the unique difference between your product or service and your competition’s product or service (from your customer’s perspective)?

Once you have identified your key success factors; built measurement devices to track them; assessed and compared your competitors’ KSFs – and the industry’s; built your strategies and objectives into your marketing and business plans(phew!); you need to act! Build your business on these key success factors.

http://www.2bornot2b.ca

 

Invoice Factoring and the Oil and Gas Boom

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invoice-factoring-oil-gasThe Oil and Gas Boom continues to stimulate growth and that’s where funding solutions such as invoice factoring become so important.  New 2013 census information shows that 6 of the 10 fastest-growing metropolitan areas and 8 of the 10 fastest-growing counties in the country are located in or near the oil- and gas-rich fields of the Great Plains and Mountain West.

Neighboring cities Odessa and Midland, Texas, show up as the second and third fastest-growing metro areas in the country.  Energy production is one of the fastest-growing industries in the United States, the Census Bureau said. The boom in the U.S. follows the use of new technologies, such as hydraulic fracturing and horizontal drilling, to tap oil and gas reserves.

According to its data, revenue for mining, quarrying, and oil and gas extraction grew 34.2 percent to $555.2 billion from 2007 to 2012. It also was among the fastest growers in employment as the number of employees rose 23.3 percent to 903,641.

With this growth comes funding needs for small to medium businesses in all kinds of industries.  It’s peripheral industries that are growing as well like construction, janitorial services, medical, food service and more.   Don’t think you can’t take advantage of this growth if the bank isn’t approving your business for a loan.   Invoice factoring works for start-ups, client concentration issues, tax lien IRS issues and many more.   Factoring looks at the credit of your client, not your own.  This open up incredible opportunities not previously realized.

Give us a call, e-mail to the right or chat with us now to find out more on how we can help fund and grow your business.

 

Overview of the Staffing Services Industry

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staffing-growthStaffing companies act as intermediaries providing contract, temporary, and permanent staff to businesses with specialized workers. Major companies include Adecco, Randstad, ManpowerGroup, Allegis and Recruit accounting for over 20 percent of the market.   The US Affordable Health Care act and other economic and political drivers have increased the demand for the personnel staffing industry with yearly growth estimated at 6%.   Small staffing companies tend to compete by specializing in a niche industry or a job function.

The US industry is divided into three major segments:

1) Temporary help services (50% of the industry)

2) Professional employer organizations (PEOs)  (45% of the industry)

3) Placement agencies (5% of the industry)

Temporary agencies find employees to fill short-term temporary jobs. Temps are often hired to work seasonally such as Christmas or to cover vacations or illnesses or other employees.   A PEO is a firm that provides HR services under which an employer can outsource employee management tasks, such as employee benefits, payroll and workers’ compensation, recruiting and other human resources roles.  Placement agencies provide services such as career counseling, resume preparation, employer contacts, and interview opportunities for those seeking positions.

At Paragon Financial we’ve been working with the staffing industry to help with their working capital for over 20 years.  We are proud to help the industry grow, help staffing companies meet payroll when cash is tight and overall help create opportunity.    Give us a call, e-mail us or chat now about your working capital needs.

 

Invoice Factoring for Pallet Manufacturer Companies

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pallet manufacturer financingThere are more than 1.8 billion pallets in service in the United States each and every day.  The shear amount creates a logistical challenge along the entire suppler chain.   The challenges include financing issues such as meeting payroll and aging account receivables.    Paragon Financial offers invoice factoring programs for pallet companies to specifically boost their working capital when clients do not meet their AR obligations in a timing manner.

Each of our factoring programs includes credit protection and we work with companies that have tax issues, start-ups and other complex funding challenges.   With over 20 years experience working with niche industries like pallet manufacturers, we have the ability to react fast and precise to your specific funding needs.

Give us a call, e-mail or chat right now to find out more.

 

 

Interesting Pallet Industry Facts

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pallet-industry-financingParagon Financial provides funding solutions to the pallet industry along the entire supply chain.  Here are some interesting facts about this industry:

  • There are more than 1.8 billion pallets in service in the United States each day. This figure does not include the many more millions of pallets used to ship goods internationally.
  • More than $400 billion worth of American trade is exported annually on wood pallets and containers worldwide.
  • Ninety-five percent of all U.S. packaged products are shipped on pallets, 92 percent of which are made from wood.
  • Wood packaging is the most cost-effective transport and storage platform.

Contact us today about funding options for your pallet business.

Top Industries in Temporary Contract Staffing

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staffing-payroll-fundingTop Echelon Contracting’s 2013 contract placement statistics show that contract staffing was particularly strong in the following industries.  The list is in order of the strongest industries from the top:

  • Healthcare
  • Business Professionals and Support Staff
  • Engineering and Manufacturing
  • Information Technology
  • Finance and Accounting
  • HR/Legal/Recruiting
  • Sales/Marketing

Are you a staffing agency growing and in need of working capital for things like payroll?  Give us a call, fill out the form to the right or chat with us now to find out how we can help you through invoice factoring or receivable financing.

The Definition of FOB as it Pertains to Invoice Factoring & PO Funding

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factoring-fob-shippingFOB is an acronym for “free on board”.  In the US FOB is commonly used when shipping goods to indicate who pays loading and transportation costs, and/or the point at which the responsibility of the goods transfers from shipper to buyer.

When title is transferred and who has physical control of the goods are important questions that need answered in the supply and funding chain.

FOB is obviously a critical variable for any Receivable Factoring or PO Funding transaction involving shipped goods.

Top 5 Temporary Personnel & Staffing Agencies in South Florida 2014

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temp employment Staffing receivable financing#5.  CareersUSA – 24.7 million – last year #7

#4. Balance Staffing – 30.1 million – last year #2

#3 Kforce – 33 million – last year #5

#2 Aerotek – 38.5 million – last year #1

#1 TekPartners – 41.5 million – last year #4

Are you a staffing agency growing and in need of working capital?  Give us a call, fill out the form to the right or chat with us now to find out how we can help you through invoice factoring or receivable financing.

 

Staffing Industry Poised to Grow through 2022

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Staffing industry growth receivable financing

A report by the Staffing Industry Analysts’ reports a rosy picture for the long-range staffing industry in the U.S.   “We forecast that the U.S. temporary help services market will grow at a compound annual rate of 4.6% between now and 2022.  Underlying our forecast is our expectation of continued shifts away from the use of independent contractors due to misclassification enforcement, as well as the deepening adoption of temporary workers in both professional and industrial occupations. For example, the utilization of temporary workers in healthcare occupations and construction occupations remains below the national average, and so we believe increasing adoption rates will facilitate future growth in these markets, “says Timothy Landhuis, senior research analyst at Staffing Industry Analysts.

There’s significant growth expected with higher-skilled jobs according to Bureau of Labor Statistics projections used in SIA’s analysis in industries such as healthcare, educational services, professional and business services.

The construction industry also expect the fastest in projected job growth. While manufacturing, utilities and the federal government are expect to slow.

Is your staffing company ready for the overall rapid growth?  At Paragon Financial we have been working with temporary staffing firms for over 20 years.  We know the ins and outs of your business and how to help grow your company through working capital solutions such as receivable financing.

Give us a call, e-mail or chat with us today to find out how we can help you.

 

Chesapeake Energy and Cabot Oil & Gas Supplier and Marcellus Shale Wells

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oil gas suppler Marcellus Shale wellsAre you a supplier or vendor for Chesapeake Energy and Cabot Oil & Gas?  If not, you should be.  According to The U.S. Energy Information Administration the Marcellus region will provide 18% of monthly natural gas production in the United States.   This represents a “key development in a rapidly evolving U.S. natural gas market”.

The Marcellus shale wells produced less than two billion cubic feet per day as recently as 2010. The EIA expects production to soon reach 13 billion cubic feet per day. To put that in perspective, in a four-year time period that would represent approximately 60% compound annual growth.

Chesapeake Energy and Cabot Oil & Gas are experience rapid growth because of the value of this region.   Suppliers and vendors need to be flush with working capital in order to handle an increase in demand for labor, raw material, equipment, payroll costs and more.  For over 20 years Paragon Financial has been working with oil and gas suppliers to improve their cash flow through invoice factoring or receivable financing.  Give us a call, e-mail or chat with us today to find out how we can help you.

Oil and gas suppliers get ready for California, Texas, Oklahoma, Louisiana and Colorado!

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oil gas boomNew technologies are driving the oil and gas boom across the US.   It’s been concentrated in North Dakota and soon will create booms in California, Texas, Oklahoma, Louisiana and Colorado.  As an oil and gas energy supplier you need to be prepared.

Ensuring you have enough working capital to leverage these exciting opportunities is essential.  The black-gold rush in North Dakota has been creating a new class of millionaire.    Want to be one of them?   Paragon Financial can help you succeed.  Give us a call, e-mail or chat with us.

Walmart $10 million fund to spur on U.S. manufacturing & suppliers

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wal-mart suppliers

January 23rd Wal-Mart announced it has created a $10 million fund to support manufacturing in the United States offering grants to innovators in U.S. manufacturing.

The company’s long-time suppliers are returning production to the United States, as rising wages in China and other offshore production less profitable.   Kent International, a New Jersey-based bicycle manufacturer, announced with Wal-Mart on Thursday that it will move its production to Clarendon, South Carolina, and create 175 new jobs and assemble 500,000 bicycles annually by 2016.

Wal-Mart is the largest private employer in the world and employs around 1.3 million people in the United States.

http://www.reuters.com/article/2014/01/23/us-usa-walmart-jobs-idUSBREA0M1AD20140123