Paragon reports strong growth in its SME Lending Vendor proposition driven by technology and people investment
Paragon Bank’s SME Lending division is targeting further growth in its Vendor proposition after reporting a 42% increase in advances and a 67% increase in transaction count over the past 12 months.
The growth has been driven by technology investment, with greater uptake of the divisions new business portal, as well as expansion of the business development and support teams.
The Vendor team will use the Hillhead 2026 show to strengthen relationships with dealers, vendors and manufacturers across the quarrying and construction equipment sectors.
Its focus at the show will be on demonstrating how Paragon can help dealers by providing responsive, relationship-led finance support for customers investing in essential operational assets.
The increase in the transaction count has been driven by more lower value proposals being submitted through Paragon’s portal by dealers. The portal allows dealers and vendors to submit proposals, monitor progress and, where appropriate, prepare documentation once a transaction has been approved.
The portal is also supporting larger and more complex transactions by applying consistent checks and balances across deals. While these cases may still require manual underwriting, the system can help identify the areas that need attention, supporting a more efficient review process.
The Vendor division has also expanded its sales capability, with two new business development managers (BDM) joining the team, Andrew Kenny and Joshua Atkinson, bringing additional knowledge of sectors including transport and HGV. David Gee has also recently been recruited from Close Brothers to replace a retiring BDM.
Paragon has also launched an internal sales desk, headed by Sharon Palmer, enabling less complex transactions to be progressed quickly while field-based business development managers focus on larger or more complex facilities. Meanwhile, the bank recruited Richard Van Dort earlier this year as head of business development vendor to increase business with major vendors.
Terry Lloyd, head of vendor, SME Lending at Paragon Bank, said: “Dealers and vendors want finance partners who can help them keep momentum with the customer. When somebody is looking at a piece of equipment, speed and communication matter.
“We have invested heavily in the portal, in our processes and in our people, and that is now making a real difference. Lower value and more straightforward transactions can move through the system much more quickly, while our business development managers can focus their time on larger or more complex deals that need a different level of support.”
He added: “Our message at Hillhead is very clear. We are here to help dealers sell more. That means being responsive, being flexible and giving dealers confidence that, when they bring Paragon into a conversation, we will get on with the job.”