Financial Services
Paragon Business Services now provides financial assistance through its association with Sunray Financial LLC, an independent provider of financial services. As an independent consultant, Sunray can offer the best solutions to your financial needs from a variety of sources. The primary service offered is the factoring of accounts receivable, but other financial services are available as well.
FACTORING: Factoring allows you to turn your invoices immediately into cash as opposed to waiting 30-90 days for payment. You determine which invoices you want to sell, place them on a schedule and receive 75-90% of the total amount on the same day. Once the invoice is collected, a small fee is deducted and the balance is paid to you.
FACTORING vs. TRADITIONAL BANKING:
- Factoring focuses on the credit worthiness of your customers, not your company’s credit.
- Factoring does not place restrictive covenants on net worth, profitability, leverage or other restrictions
- Factoring changes your receivables asset for a cash asset and does not create a liability on your balance sheet
- Getting set up with factoring is fast, with no long approval process
WHY FACTOR:
- Predictable and timely cash flow
- Peace of mind
- Take advantage of supplier discounts
- Pay taxes and bills on time
- Replaces your credit department
- Have potential customers’ credit worthiness determined at no additional cost
- Financing availability automatically increases with the growth of you business
- Assistance in collecting invoices
- Access to daily online reporting
INDUSTRIES SERVED:
- Transportation companies
- Staffing companies
- Manufacturers
- Distributors
- Wholesalers
- Service providers
- Construction companies
- Subcontractors only
- In business 2-3 years
- Contracts that do not require subcontractor bonding
- Must have current financial statements
COMPANIES THAT QUALIFY:
- Companies experiencing high growth
- Start-up companies
- Under capitalized companies
- Closely held and public companies
- Debtors in possession (Chapter 11)
- Typical traits
- Quality client base
- Quality products and services
COSTS: Fees charged are the lowest in the industry and are based on several variables such as:
- Customers’ credit strength
- Size of invoices
- Monthly invoice volume
- Payment trends
NOTE: If you are already factoring, let Sunray obtain a competitive quote.
HOW TO GET STARTED:
- Contact Brenda Kindrick
Phone: 817-466-0909 x 111
Email: bkindrick@paragon-pbs.com
FAX: 817-549-0470 - Complete a short application and provide supporting documentation
- Receive approval or disapproval in just a few days
- Execute factoring agreements
- Receive funding
Paragon Business Services, Inc 