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Asset finance for SMEs

Strengthen and grow your business with support from an award-winning specialist lender.

Coronavirus - we are here to help and support you.

Coronavirus Business Interruption Loan Scheme (CBILS)

For lending between £50,001 and £500,000

Bounce Back Loan Scheme (BBLS)

For lending between £2,000 and £50,001

Our expert asset finance teams have deep and specialist knowledge, not only in finance but also in the asset categories within which they operate. It’s the experience and learning embedded within our teams that’s at the heart of our unique approach.

Agriculture
finance

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

Aviation
finance

Looking to fund an aircraft?
With over 15 years’ experience our team will get you off the ground.

Commercial vehicle finance

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

Construction finance

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

Paragon offered greater flexibility than other lenders and had more understanding of what we wanted to do

Jim Cooper | Aeros Global

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Looking for something else?

Whatever business assets you’re looking to finance, we’re on hand to help.
We have teams covering a wide range of industry sectors, including…

Get in touch today

Are you an Intermediary?

Take a look at the asset finance products we offer through brokers.

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.

Large yellow excavator

Joinpoint Ltd.

After years of supporting Joinpoint owner Paul Finnegan to finance dump trucks, he turned to Paragon to help his daughter enter the construction industry.

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Private jet parked

Avery Charter Services Ltd

Avery first turned to Paragon when it purchased a helicopter and was so pleased with the service that it returned when building up its fleet.

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Yellow agricultural equipment

Stafford Farm

Paragon continues to support the agricultural sector, providing a funding package to enable the growth of a Lancashire-based family farm.

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Man wearing hard hat stood by excavator

Cawarden

Demolition firm Cawarden is a company that has relied on the expertise at Paragon time and time again to keep its business well-equipped.

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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.

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Man stood in front of farm buildings

Milton Farms

From supporting the growth of arable and potato farms, to movement into renewable energy, Paragon has built a long-standing relationship with Milton Farms.

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View all our case studies
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

  • VAT not payable as part of deposit
  • 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 pay a fixed monthly rental to use the asset you want. The ownership of the asset remains with Paragon and at the end of the agreement you have three options:

  • The equipment can be returned to Paragon
  • You can continue leasing the equipment
  • You can consider purchasing the equipment based on an assessment of its market value at the end of the term.

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:

  • Construction
  • 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