Paragon Financial Group Sees Boost in IT Staffing Funding Demand
Paragon Financial Group has experienced a surge in staffing factoring lines of
credit in first quarter of 2014.
FT LAUDERDALE, Fla., April 23, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Paragon
Financial Group has experienced a surge in staffing factoring lines of credit
in the first quarter of 2014. Much of this growth has been seen in the IT
staffing sector. According to the Staffing Industry Pulse Survey IT staffing
has experienced a median year-over-year growth of 13% along with the strongest
bill rate trends as compared to other segments. Paragon Financial has
experienced a similar growth in the IT staffing market. Reflecting IT staffing
firms increased need for additional working capital and payroll funding.
In a year-to-year comparison, staffing firms in all industries employed 9.6%
more temporary workers in March 2014 than in the same month a year ago,
according to the U.S. Bureau of Labor Statistics. With a staffing employment
increase of 59,300 jobs. "Overall our key performance indicators for
technology remain at high levels for job orders, external committals and send
outs, with fill ratios at an all-time high," said Joe Liberatore, president of
Kforce, a professional staffing firm.
According to Paragon Financial's President, Michael Rossi, "The IT staffing
market has been instrumental in our own growth the 1st quarter of 2014. We
have successfully assisted multiple IT temp staffing companies with their
payroll and met their cash flow needs in order for them to take advantage of
the current surge in the market."
Paragon Financial expects to see continued demand for IT staffing and other
temp staffing industry working capital solutions through 2014. "Overall growth
in the staffing industry is expected to by around 7% with IT staffing being a
large part of this growth. At Paragon Financial we are well positioned to help
the industry grow through our invoice factoring and credit protection
programs." said Chris Curtin, Paragon Financial's National Sales Manager.
ABOUT PARAGON FINANCIAL GROUP
For 20 years Paragon Financial Group has provided working capital solutions
for growing companies throughout the U.S. We serve small to medium companies
across a wide variety of industries through invoice factoring and purchase
order financing up to $3 million per month in volume. Paragon is a leading
source for accounts receivable factoring, government contract financing,
funding companies with tax issues, payroll funding, purchase order financing,
credit protection and AR management. For more information visit
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CONTACT: Paragon Financial Group
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