Payroll Funding for Guard Staffing Companies

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Payroll-Funding-Staffing-CompaniesFrom Houston, Texas to Philadelphia, PA staffing agencies are growing tremendously.  For example, temp staffing firms in Houston are reporting up to a 74 percent growth in local billable hours in 2014.   With exponential growth, comes a greater need for working capital to hire new employees, fund payroll, benefit premiums and much more.

Paragon has been providing Payroll Funding to the security guard staffing industry for over 21 years.   We understand the demands rapid growth puts on cash flow and offer up to 95%, same day—wire transfer, advance against invoice for our temp staffing, payroll funding clients.  Paragon has built its reputation by offering the best customer service possible. This coupled with our competitive rate structure has helped Paragon become one of the premiere factors in the U.S.

Paragon Financial has been working capital to the guard staffing industry since 1994.    All through our accounts receivables financing, credit protection and invoice factoring programs.  Give us a call at 888-400-5931 today, fill-out the form to the right or chat with us.




Factoring Tax Issues

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factoring tax issuesIf you have debt to the IRS, obtaining financing or working capital for your business is difficult at best – unless you work with a funding source that can help fix your tax issues and provide the necessary working capital at the same time.

Factoring tax issues is a working capital solution many did not know was an option. Paragon Financial is ahead of the curve in dealing with the back-taxes problem. We have access to up-to-date information on IRS liens, levies, tax compliance history, business name discrepancies, accrued tax liabilities, and IRS installment agreements – every relevant piece of information we need to ensure that there is no risk of your receivables being taken by the IRS to fulfill back-tax obligations.

For 21 years, Paragon Financial Group has been factoring tax issues and providing working capital solutions.

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

Staffing Company Growing Pains, Payroll and Booming Temp Jobs

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temp staffing growth payrollTemp jobs in the US are booming with a 57 percent increase from 2009 to 2014. This means staffing companies are also feeling the boom. A growing staffing company equals an increased need for working capital, higher payrolls, and larger overhead overall. Nearly 3 million people are employed in temporary jobs from Lakeland, Florida to Omaha, Nebraska.

Analysis from CareerBuilder shows that number will continue to rise. Temporary employment is expected to increase 13 percent (354,877 jobs) from 2014 to 2019.  Staffing agencies need to be financially prepared to handle the additional workload.

CareerBuilder put together a list of fast-growing occupations for temporary employment. Hot areas for temporary employment include the following with the total number of higher paying temp jobs listed:

Computer Systems Analysts
(2014) 11,802
(2019) 14,024

Accountants and Auditors
(2014) 11,130
(2019) 12,654

Management Analysts
(2014) 10,923
(2019) 12,418

Computer User Support Specialists
(2014) 19,597
(2019) 22,276

Software Developers, Applications
(2014) 11,698
(2019) 13,292

Customer Service Representatives
(2014) 88,610
(2019) 100,642

Heavy and Tractor-Trailer Truck Drivers
(2014) 25,075
(2019) 28,479

Registered Nurses
(2014) 46,052
(2019) 52,296

Maintenance and Repair Workers, General
(2014) 23,806
(2019) 27,027

(2014) 21,493
(2019) 24,391

Construction Laborers
(2014) 50,505
(2019) 57,275

Secretaries and Administrative Assistants, Except Legal, Medical, and Executive
(2014) 68,486
(2019) 77,660

Computer User Support Specialists: One of the Fastest Growing Temp Staffing Jobs

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Computer user support staffingComputer user support specialists provide support and assistance to individuals and organizations using computer hardware and software. From Baltimore, Maryland to San Antonio, Texas these temp jobs have seen a 47.8% in year-to-year hiring according to new research by WANTED Technologies.

“Staffing firms are being hired to fill excess jobs that HR teams can’t fill internally either due to overall challenging conditions or lack of internal recruiting time and resources especially for these jobs with niche skill sets,” said Meredith Amdur, president and CEO of WANTED Technologies.

17,895 computer user support specialist temp staffing jobs were added between 2013 – 2014.

Computer user support specialists have the highest salaries in Connecticut, where they earn an average compensation of $60,200. Employees who work in this job make the most money in Mining, Quarrying, and Oil and Gas Extraction, which has average pay scales of $60,610.

For over 21 years, Paragon Financial has helped successful staffing companies grow their business through payroll financing, invoice factoring, 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 to find out how we can help you.

Financing for Staffing Companies

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Financing staffing industryFounded in 1994, Paragon offers Fast Growing Labor, Guard, IT & Staffing Companies an alternative to bank financing. When banks either WILL NOT loan or offer TOO LITTLE funds, Paragon promptly supplies a steady stream of cash through Invoice Factoring.

Our Programs

  • Invoice Factoring, Accounts Receivables Financing & Credit Protection
  • 90% Advance Rates with Online Invoice Submission, Reporting and D&B Reports
  • The Famous Paragon “Soft Touch” with your Clients
  • Paragon can move Quickly on New Client or High Growth Client Approval versus slow Bank Underwriting. Optional Back Office services are also available.

Target Clients

  • Startups, Turnarounds, Bank Exiting and Non or Under-Bankable Relationships
  • Personal Credit of Owner is not an issue; we look at your customer’s ability to pay
  • Fast Growing Client with sales of $25,000-$3,000,000 per month
  • Companies Looking for Payroll Financing
  • Paragon can fund with Client Concentration & Tax Issues!
  • Staffing Companies for All Industries in All 50 States
  • What is needed to get started? A Simple One-Page Application!

For 21 years, Paragon Financial Group has provided working capital solutions for growing and non or under-bankable companies throughout the United States.

For fast funding or more information, please contact Chris Curtin, National Sales Manager at, (561) 758-6285 (cellular) or toll-free (800) 897-5431.

Supply Chain Financing

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supply chain financing If you are a small business owner who supplies goods or services to large customers, you may be able to obtain needed cash flow through supply chain financing.

Supply chain financing or reverse factoring is typically a three-way relationship among a supplier, a large customer, and a factoring firm. The customer in effect pre-approves invoices from a given supplier and commits to paying the invoices. Because of the customer’s higher credit rating, the factor is willing to conduct the transaction at a lower fee to the supplier. The factor pays the supplier based on the customer’s credit and will then collect on the invoice from the customer.

In this relationship, the supplier gains by obtaining immediate cash flow for working capital purposes while paying a lower factoring fee. Further, if the supplier has a particularly weak credit history or poor current and projected financials, it benefits through reverse factoring by gaining access to credit that it might not otherwise be able to obtain.

>> Click here for more information on how Supply Chain Financing helps you.

Debtor-in-Possession (DIP) Financing Can Help Turn a Company Around Following Bankruptcy

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debtor in possession dip financing

For many distressed companies, there is hope for new financing. If they file for bankruptcy protection, they may be able to take advantage of debtor-in-possession (DIP) financing to help them reverse course and return to profitability.

It is typically available to companies where lenders believe the company has a credible chance and a viable plan to turn itself around from bankruptcy. The term “Debtor-in-Possession” refers to the fact that the current management and board of directors remain “in possession” of the company following its bankruptcy filing. Many small business owners are not aware that they can obtain financing to turn their company around after they have declared bankruptcy.

Many lenders see DIP financing as an attractive lending opportunity because of the special treatment of DIP loans under U.S. bankruptcy law. Under the law, DIP creditors must be repaid before other creditors. In fact, many lenders will commit to a DIP loan while they would not make a loan commitment to the same company in the absence of a bankruptcy filing.

DIP Financing Using Accounts Receivable Factoring

Companies can also use factoring as a financing tool in DIP financing – a possibility that many small business owners do not realize. In fact, accounts receivable financing can be one of the most flexible ways to obtain financing during the bankruptcy process. Factoring can be a win-win for both the borrowing company and the factoring firm. The borrower obtains needed financing that is not based on its own credit status, and the factoring firm achieves priority status under the Bankruptcy Code.

>> Find out more about DIP Financing and how it helps you.


Use of Temp Nurses Can Save Hospitals Money

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temp-nursesStudy suggests “modest use” of temporary staff can lead to cost savings and efficiencies … find out how your temp staffing firm can leverage invoice factoring to land more staffing contracts.

Read More

Daily news from Staffing Industry Analysis:

  • Healthcare staffing providers among the best staffing firms to work for
  • Cross Country revenue up 8% on pro forma basis in Q4
  • General Employment closes on Scribe, ex-MPS leader takes CEO role
  • Nursing, IT jobs top positions filled through staffing firms, research finds
  • Weatherby Healthcare names new president
  • Fastaff names VP of recruiting
  • Travel nursing interest rises another 3% over Q4 – Promoted
  • Hiring and recruiting with social media can raise legal complications
  • Interviewer mistakes and how to overcome them — Staffing Stream

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.