Head of Credit Risk for Paragon’s SME Lending division, Kevin Merrill, provides an insight into how the team operates – and how it is ready to help support brokers and their clients.

The first question we ask whenever a new proposal is put in front of us is, “How can we get this deal done?”

For SMEs to adapt, innovate and grow it is essential that they can quickly and efficiently acquire the assets they need – and, in partnership with intermediary partners, Paragon’s mission is to make this happen.

The Credit Risk team is central to this process. Tasked with assessing funding proposals, we work with our colleagues in the Broker team to ensure that intermediary partners know exactly what information we require to help deliver a positive outcome for their client. 

Funding proposals

Each proposal is unique and the information we require varies depending on the assets and amount concerned. While every proposal represents the opportunity to support a UK SME, the level of detail required to assess a £50,000 single-asset deal differs from one for a £1 million multiple-asset transaction.

This work is assisted by our team's asset knowledge. Each team member has in-depth knowledge of the sectors we support, as well as the assets that SMEs rely on. Supported by this detailed knowledge, we can better understand and process proposals for the benefit of both intermediaries and their clients.

Supporting businesses

Both funders and intermediaries are passionate about supporting businesses, and that is why Paragon is committed to working in close partnership to make sure the process of doing so is as efficient as possible – but without the right information and understanding, the process of getting the deal completed is inevitably more complicated and can delay a vital asset reaching an SME on time.

With the economy on the lookout for growth, it has never been more important that we work effectively together to deliver results for SMEs. The more we do so, the more deals we can deliver – and the Credit Risk team is ready to do all we can to support our partners in getting assets to ambitious SMEs.

Visit our website to learn more about how our Asset Finance team works with intermediaries.