Paragon Financial Factoring Company Blog

Paragon Financial’s Nationwide Factor Broker Network

Paragon Factor — Mon, 14 May 2012 20:04:41 +0000

Did you know that Paragon Financial has nationwide factor broker network that we actively cultivate and support. Whether it’s an independent intermediary, C.P.A, attorney, loan officer at a bank, or an online referral source, Paragon can help you improve the way you do business.

If you refer a deal to Paragon, 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 factoring referral!

For out more on being a factoring broker.

Financing with IRS Tax Issues – Paragon Financial Can Help Get You Funding

Paragon Factor — Mon, 07 May 2012 17:49:52 +0000

As a business owner it is easy to get behind on payroll taxes and other federal, state or government taxes. Since 1994 Paragon Financial has been dealing with the IRS. We understand how to negotiate with them and get the critical funding you need.

Factoring Line of Credit for Government Contracts

Paragon Factor — Tue, 01 May 2012 17:18:22 +0000

Featured Case Study
Situation: An eight year-old Company has government contracts for water and wastewater services at U.S. Air Force bases. Their certified treatment operators manage all aspects of operations, maintenance, energy management, analytical testing, and safety. However, working with government contracts and waiting for payment left them in a cash flow crunch. In need of working capital, they first began looking into factoring in 2010.

Challenges: The Company had federal and state tax issues that had to be cleared up before they could factor. We guided them through the process and kept in touch. They also had a bank loan with liens on their assets. Making the deal even more urgent, they had a chance to add more Air Force bases to their client roster, but needed working capital to hire additional workers and purchase equipment.

Find out how Paragon helped them close a $1 million factoring line of credit

SWAMI SEZ!! Part 2

Paragon Factor — Tue, 01 May 2012 13:47:54 +0000

Michael Rossi of Paragon Financial looks into the future on these most pressing issues

6 Questions you are dying to know the answers to…………

Question: Who will win the NBA championship?

Answer: Miami Heat

Question: Will Tiger Woods win a Major in 2012?
Answer: No

Question: Who will win more games in 2012, Andrew Luck or RG3?

Answer: RG3

Question: Will the Giants repeat as NFL Champions next year?
Answer: No, in fact, they won’t even make the playoffs

Question: Will Tebow be the starting QB for the Jets by the end of 2012?
Answer: Yes, Sanchez days are numbered.

Question: Who will win the Stanley Cup this year?
Answer: The Nashville Predators

Watch out Factoring Companies – Google is updating their algorithm

Paragon Factor — Thu, 26 Apr 2012 16:22:56 +0000

In competitive industries like factoring, many companies push the envelope and over optimize their web pages, links and other content. Google is about to update their algorithm and will now be penalizing web sites they see as being over optimized.

Is Your Line of Credit Maxed Out and You Need More Financing?

Paragon Factor — Wed, 25 Apr 2012 20:40:45 +0000

Paragon Financial works with undercapitalized companies that need cash flow fast. We have both invoice factoring and purchase order financing programs to get your company funding quickly.

Payroll Funding for Chicago IT Staffing Company

Paragon Factor — Mon, 23 Apr 2012 18:05:11 +0000

Paragon has offered a $550,000 invoice factoring line of credit to a Chicago, Illinois IT staffing group for payroll funding.

Indiana Distributor Extend Seasons With $650,000 Invoice Financing Facility

Paragon Factor — Wed, 18 Apr 2012 16:52:10 +0000

Paragon provided a $650,000 invoice factoring line of credit to a distributor of seasonal landscape products headquartered near Gary, IN. The facility will help the Indiana company take advantage of growth opportunities.

Find out more about how an invoice factoring line of credit helped this Indiana company.

Upcoming events for Paragon including the 18th Annual Factoring Conference

Paragon Factor — Mon, 09 Apr 2012 17:01:42 +0000

Here are a few events coming up that Paragon will be participating in:

18th Annual Factoring Conference
April 18-21, 2012
Huntington Beach, CA

Big Brothers Big Sisters of Broward County
BOWL for Kids’ Sake
May 21, 2012
Ft. Lauderdale, FL

OBJ Business Growth Expo & BizMix
May 23, 2012
Orlando, FL

Former Paragon Client Convicted of Factoring Fraud and Sentenced to 21 Months for Grand Theft

Paragon Factor — Wed, 04 Apr 2012 13:39:08 +0000

In 2009 when the economy got tough, many businesses were tightening their belts as sales decreased. A former Paragon client, Innovative Staffing, who provided temporary help and labor services and had been with them for about 10 years decided to take a different route. Paula Patak, from Fort Lauderdale, FL, decided to submit inflated and fictitious invoices to make up for her decreased sales. Paragon first realized there was a problem when a certified cashier’s check came in to pay some factored invoices. This is a red flag since companies do not typically pay in this manner and Paragon realized the payment was sent by the client, not their factored customer.

It is very hard to get white collar fraud prosecuted due in part to the heavy workload put on the authorities and prosecutors who often perceive factoring fraud as a civil matter. Upon uncovering the fraud and the client admitting to it, Paragon contacted the Ft. Lauderdale Police Department. They were very receptive, understanding, and appreciated all the work Paragon did to present the fraud to them in an understandable manner. Due to the overwhelming evidence, Paula Patak plead guilty to grand theft and was sentenced to 21 months in prison and 10 years probation on March 22, 2012.

“We would like to thank the Fort Lauderdale Police Department, particularly Detective Amy Hoover-Shoemaker in the Economic Crimes Unit, and Broward County Prosecutor Kerry Fleck for their hard work and successful prosecution of Paula Patak” says Jon Anselma, Managing Partner of Paragon. “Let this be a warning to others contemplating committing a fraud in factoring, crime does not pay!”

Jon Anselma
Managing Partner

Paragon Financial Group, Inc.