Daily News: May 22, 2012

Paragon Provides Factoring Line to Security Guard Staffing Company

Paragon Financial Group announced that it has provided a $350,000 factoring line of credit to a security guard staffing group headquartered near Atlanta, GA. The facility will enable the company to take on larger contracts, meet payroll and grow the business.

The three-year-old company provides unarmed and armed security and bodyguard work in Georgia. It offers commercial security monitoring, asset protection, event security, patrol services and executive protection, as well as design custom security programs. The company had a big opportunity to work with CVS pharmacies in Georgia, but needed factoring in order to meet the added payroll.

“We reached out to them initially and have been in touch with them over the years so they knew how invoice factoring worked. Once they found themselves in the position of needing factoring, it was an easy decision for them,” said Michael Rossi, president of Paragon Financial Group. “It would have been difficult for them to fulfill the CVS contract without the proper financing in place.”

With Paragon’s factoring line of credit, the company will be able to grow its business knowing it has the resources in place to take on large contracts.

For over 18 years, Paragon Financial Group has provided working capital solutions for growing companies throughout the U.S.