Daily News: April 2, 2013

Paragon Announces WOBs are Highest Growing Part of Portfolio


Paragon Financial announced that women-owned businesses are the fastest growing portion of its portfolio. The company said that the National Women’s Business Council 2012 Annual Report suggests the next big economic push will be led by women-owned businesses (WOBs):

  • 33% of all trademarks granted to individuals and sole proprietorships in 2012 went to women

  • Women own 30% (a total of 7.8 million) of companies, generating $1.2 trillion a year in sales

  • 55% of women-owned businesses with receipts between $100,000 and $500,000 expanded or had constant employment between 2007 and 2009

    In addition, a recent national survey by Web.com Group and the National Association of Women Business Owners found a pervasive sense of economic optimism and a prediction by 85% of WOB that more women will become entrepreneurs in 2013 than in years past. In a positive sign for the economy, they also plan to invest more (38%) or the same (54%) in hiring this year than they did in 2012.

    However, women still face significant challenges in business, including:

  • Increased pressure to balance business and family

  • Societal and cultural expectations of women’s roles, especially overseas

  • Facing the ‘good-old-boy’ syndrome in male-dominated networking clubs

  • The struggle to be taken seriously, especially in male-dominated industries such as finance

    The issues become more pronounced when looking for financing, and many women do everything they can to avoid trying to get credit. In the past year, 78% of the surveyed WOBs did not seek a new or extended line of credit. More than half of them indicated they did not want to take on additional credit while 32% did not think they could get credit if they tried.

    That’s not the case at Paragon Financial. WOBs are the fastest-growing portion of our business portfolio.

    Factoring with Paragon Financial offers WOBs a real solution because:

  • Investor confidence is not an issue. Funding decisions are based on the credit-worthiness of your customers, not on a business owners personal worth or their company’s balance sheet.

  • Solutions for young businesses, two years established and younger.

  • There’s no need to gather 3 years of back taxes and paperwork.

  • Large, quick growth can be handled with continued funding.
    Paragon works with women entrepreneurs in industries like staffing, security, healthcare, IT and government contracting.

    Paragon Financial Group provides working capital solutions for growing companies throughout the U.S.