Daily News: October 5, 2012

Paragon Provides Invoice Factoring Line to NY Food Producer

Paragon Financial announced it has provided a $1 million invoice factoring line of credit to a New York-based food manufacturer of health-conscious quality snacks. The financing will enable the company to expand into new geographic markets and grow their business.

Paragon said, through an Internet search, the company found a broker that recommended it call Paragon Financial. “We competed with other factoring companies on this deal, but they liked our rate structure and we were able to build a good relationship with the company,” said Michael Rossi, president of Paragon Financial Group. “They also like our expertise in dealing with all types of industries including food manufacturing and our ability to provide a facility which can grow with the company.”