Daily News: August 22, 2013

Paragon Announces Lending Facility Program with BankUnited

Paragon Financial Group announces their new strategic partnership and lending facility with BankUnited. Paragon Financial will be working with BankUnited and their business customers providing a broad range of financial and factoring programs to clients. This new partnership will assist growing business (with monthly sales up to $3 million) with working capital through a strong portfolio of factoring programs such as invoice factoring, receivables financing, credit protection, purchase order financing, government factoring, trade finance and vendor guarantees.

“Paragon Financial is excited about our new lending relationship and partnership with BankUnited. Paragon Financial for almost 20 years has helped the non- and under-bankable entrepreneur. With BankUnited’s almost 100 branches we look forward to working closely with BankUnited’s front line personal as we help newer and fast growth companies create new jobs and grow their businesses” says Chris Curtin, national sales manager of Paragon Financial.

“Partnering with Paragon Financial is extremely important for BankUnited in order to grow and expand our national presence among small and medium-sized companies” says Rick Thill, senior vice president of BankUnited.

Paragon Financial’s business financing programs will help BankUnited provide funding and loans to a much wider set of business customers of varying credit, growth and funding needs. Their programs allow for deposit growth even with non-bankable clients along with same-day funding allowing for better cash management tools for clients. The group also has invoice factoring and accounts receivable funding programs available to shoulder credit risk for startups, turnarounds, bank existing and non-bankable relationships.