Paragon Financial Group offers invoice factoring and other financial services to eligible businesses. They can fund amounts up to $3,000,000, with a minimum monthly factoring amount of $30,000. We compiled user reviews from around the web and determined that Paragon Financial Group generally has positive ratings. We also compared the most popular pricing options for small business owners.
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Paragon Financial Group Customer Reviews
Ease of Use: Good
Customer Service: Good
Summary of User Reviews
What Paragon Financial Group does well:
Users who recommend Paragon Financial Group were impressed with the responsive customer support team. Customers also said that the company has helped them solve cash flow problems.
What Paragon Financial Group does not do well:
No negative reviews were found at the time this article was written.
How to Qualify
To qualify, you must have at least $30,000 in monthly invoices to factor. Each of your customers must be individually approved by Paragon, who will do a credit check on your customers through Dun & Bradstreet.
You can be initially funded within 1 week, but each funding after that will be completed within 24 hours of you submitting an invoice, and typically occurs the same day you submit the invoice.
While Paragon is a non-recourse factoring company, they require a personal guarantee. You won’t be responsible for the personal guarantee if your customer becomes insolvent or files bankruptcy.
Paragon Financial Group Pricing
Paragon advances 90-95% of the invoice upfront. They also charge 1.25% per invoice for every 30 days the invoice is outstanding. Paragon doesn’t disclose all of their fees online. The fees vary based on your business and your factoring activity. All fees applicable will be provided in an official offer before you start using Paragon Financial Group.
|Monthly Funding||Min: $30,000|
|Advance Rate||90% - 95%|
|Discount Rate||1.25% per invoice for every 30 Days it’s outstanding, charged when it’s paid|
Paragon also offers spot factoring so you can pick and choose which individual invoices you factor as long as you meet their minimum $30,000 of factored invoices monthly. The company specializes in manufacturing, wholesaling, and distribution. You can use their invoice factoring calculator to get an idea of how non-recourse invoice financing & PO Funding works.
Top Paragon Financial Group Alternatives
No minimum credit score invoice financing up to $100,000
Small businesses that need next-day invoice factoring up to $5 million
Businesses that want nonrecourse factoring from $30,000 to $10 million
Invoice financing and factoring facilities up to $10 million
Evaluating multiple invoice financing options on a free online marketplace