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This page is for customers. If you are an asset finance broker, please visit our intermediary page

Asset finance for SMEs

Specialist lending solutions to help UK businesses innovate, adapt and grow.

Whether you’re investing in equipment, vehicles, machinery or technology, our expert teams can support your business, not only with finance, but with a wealth of industry knowledge and experience.

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Coronavirus - we are here to help and support you.

Helping your business grow

We have partnered with the British Business Bank to offer financial support to UK businesses.

The British Business Bank brings expertise and Government money to the smaller business finance markets. They don’t lend or invest directly, instead working with partners such as Paragon.

Coronavirus Business Interruption Loan Scheme

The Coronavirus Business Interruption Loan Scheme (CBILS) is now closed to new applications.

Existing CBILS customer information

Bounce Back Loan Scheme

The Bounce Back Loan Scheme (BBLS) is now closed to new applications, including applications for Top-Ups.

Existing BBLS customer information
Construction

Construction finance

Build your business with our specialist construction finance solutions for yellow plant equipment, cranes and access platforms.

Transport

Commercial vehicle finance

Hire fleet, operator fleet and commercial vehicle funding expertise to help drive your business forward.

Agriculture

Agriculture finance

Find flexible funding solutions for new and used agricultural machinery, farming equipment and vehicles.

Aviation

Aviation finance

Whether it's a corporate jet, helicopter or light aircraft for business or personal use, our specialist aviation finance team have the knowledge and experience to help

Manufacturing

Manufacturing finance

Specialist manufacturing finance options to help fund the machinery and equipment that your business needs to grow.

Technology

Technology finance

Discover our range of finance options to help your business keep up with the constant and rapid evolution of technology.

Meet the UK businesses we’re supporting

We're committed to helping British businesses on their journey to success.
Find out how we've helped others through our specialist finance products.

Premier League

Premier League Funding

Find out how our SME Lending team supported a Premier League club with a £600,000 finance package for a new top-of-the-range floodlight system.

Read more
The Log Company

The Log Company

Paragon has supported The Log Company with a £160,000 finance package for a range of new equipment, including telehandlers, gritters and light commercial vehicles.

Read more
Recycled Roadways Ltd

Recycled Roadways Ltd

Paragon recently supported specialist construction company, Recycled Roadways Ltd, with a finance package to fund plant equipment and support the business' growth following the pandemic.

Read more
Plant Hire & Groundworks Limited

Plant Hire & Groundworks Limited

Paragon recently provided a £68,000 funding package to support agricultural contractor mark Hallam Plant Hire & Groundworks Limited with the purchase of a second hand New Holland T7.315 Tractor

Read more
Black helicopter

GB Helicopters

GB Helicopters are a leading UK helicopter charter company, providing a wide range of services from aerial filming to private charter.

Read more

FinniGroup Ltd.

Paragon Bank is enabling three Leicestershire-based sisters to follow in the footsteps of their father by providing funding to establish their plant hire business.

Read more

 

View all our case studies

 
The team at Paragon were really easy to deal with and took the time to understand our business and what we were hoping to achieve, which made the process of securing funding really seamless

Jo Harris | Alkmonton Dairies

Read more

Types of asset finance

Learn more about the products we offer to fund your asset(s).

Finance lease

A finance lease is a fixed cost rental facility. After paying rentals over an agreed term, which is known as the primary period, you have three options:

  • The equipment can be returned to Paragon
  • You can continue leasing the equipment
  • You can sell the equipment on our behalf to a third party not related to your business and we pay you a pre-agreed percentage of the net sale proceeds

A finance lease usually suits businesses who cannot recover the VAT element of the deposit required under a Hire Purchase agreement or doesn't want the tax benefits of ownership.

Key benefits

  • Spreads the impact of VAT, which is collected on each rental (including deposit) as it's due
  • As you don't own the equipment, tax treatment may be more beneficial (subject to your tax status)
  • Option to return equipment at end of primary term with no further liability

At Paragon, we typically offer a finance lease on the following assets:

  • Business equipment
  • Print and packaging
  • Bus and coach
  • Technology
  • Pro AV and broadcast
  • Medical
  • Professions
  • Construction
  • Agriculture
  • Fleet and logistics
Hire purchase

With hire purchase, the asset is funded over a term - up to five years – with the repayments you make including capital and interest.

When you use hire purchase to fund your asset, the interest rate is fixed from the start so you can budget your costs effectively.

Repayments can be monthly or quarterly and we can even offer seasonal payments to give you lower repayments in periods when your business is normally less busy.

When you have paid all the repayments, ownership of the asset will pass to you on payment of an option to purchase fee.

Key benefits

  • Fixed repayments
  • Interest rate fixed at start of agreement so ease of budgeting
  • VAT element of deposit recovered through your VAT return
  • Seasonal payment options
  • You claim tax benefits of ownership, subject to your tax status

At Paragon we typically offer hire purchase on the following assets:

  • Business equipment
  • Aviation
  • Print and packaging
  • Bus and coach
  • Technology
  • Pro AV and broadcast
  • Medical
  • Professions
  • Construction
  • Agriculture
  • Fleet and logistics
Operating lease

An Operating lease allows you to use the equipment at a reduced monthly rental as Paragon set a residual value on the asset which is not payable by you. The ownership of the asset remains with Paragon and at the end of the agreement you return the equipment to Paragon in accordance with pre-determined return conditions​.

An operating lease is very useful if you’re looking to use high value or specialist equipment without the risk associated with depreciation.

Key benefits

  • You’re protected from the risk of depreciation in asset value
  • We set a residual value for the asset, which may reduce your monthly payments
  • The asset and corresponding liabilities could be treated as ‘off balance sheet’
  • You may be able to offset rental payments against taxable profits

At Paragon we typically offer an operating lease on the following assets:

  • New construction assets​
  • New commercial vehicles​
Refinance / Sale and HP back

With sale and HP back, Paragon will buy the asset from you, agree a value and advance you the agreed amount. Your repayments are calculated in line with the income that will be generated by the asset and at the end of the agreement, you own the asset.

Key benefits

  • You own the equipment at the end of the agreement
  • No initial payment or deposit required
  • No additional security required
  • You inject cash into your business quickly
  • Continued & uninterrupted use of the asset being financed over an agreed period

At Paragon, we typically offer refinance / sale and HP back on the following assets:

  • Business equipment
  • Print and packaging
  • Bus and coach
  • Technology
  • Pro AV and broadcast
  • Medical
  • Professions
  • Construction
  • Agriculture
  • Fleet and logistics
Commercial / Business loan

A commercial / business loan is a flexible financing tool that enables borrowing to be used for a wide variety of purposes. A loan may be secured on a businesses’ assets or be supported with additional securities.

Key benefits

  • Simple documentation
  • Flexible terms available

At Paragon we typically offer commercial / business loans in the following markets:

  • Business equipment
  • Aviation
  • Print and packaging
  • Bus and coach
  • Technology
  • Pro AV and broadcast
  • Medical
  • Professions
  • Construction
  • Agriculture
  • Fleet and logistics

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551