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A R Banks drives growth with Paragon funding 

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Supporting British businesses

Paragon Bank provided Hampshire-based A R Banks with a £290,00 funding package to acquire a Scania 500 8x2, equipped with a rear mount lorry loader. A R Banks is a family-owned and operated business, founded in 2011 by Stuart Banks.

The firm specialises in a plethora of services, from engineering, marine, rail, aviation and construction industries throughout the UK and Europe.

With the arrival of the Scania 500, A R Banks is providing greater flexibility and expanded services to its clients.

Paragon enjoys a long-standing relationship with the firm, working with them for over six years with funding arrangments totaling to £620,000.

How we helped

Stuart Banks, founder of A R Banks, said: “Thanks to the funding support provided by Paragon and the arrival of a new Scania 500, equipped with a rear mounted lorry loader, to our fleet, we can now not only provide our customers with greater flexibility, but also increase the volume of business we are able to undertake.”

He added: “Working with Paragon for many years, we continue to be impressed over their commitment to understanding our business, our requirements, and supporting our growth as we expand the range of our services. We look forward to continue working with Paragon in the years ahead.”

Working with Paragon for many years, we continue to be impressed over their commitment to understanding our business

Steve O’Reilly, Paragon SME Lending Business Development Manager said: “A thriving haulage sector is essential to the UK economy, with countless businesses depending on them to ensure the smooth running of their operations – and it is vital that haulage firms can expand to meet the demand and requirements of their clients.

“Building longstanding relationships with fantastic businesses is at the core of what we do, and through working closely with A R Banks over recent years, I have been delighted to see the business grow and the benefit that Paragon funding has brought to them and the wider UK economy.” 

Find out more about how we can support your business on our SME Lending page.

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