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Paragon offers flexibility for broadcast and AV installations business to minimise coronavirus impact

Paragon Bank continues to provide support for UK SMEs during coronavirus, offering much needed flexibility on an agreement with West Midlands-based firm, Global Broadcast and AV Installations Ltd.

Paragon originally provided Global Broadcast with a £350,000 invoice finance loan package in 2018 to assist with cash flow. Earlswood-based Global Broadcast provides audio visual and broadcast equipment installations, cable prefabrication, consultations and solutions, primarily to the broadcast industry.                  

Due to the ongoing coronavirus pandemic, Paragon was subsequently able to restructure the existing terms of the original agreement to adhere to the changing environment and support the needs of the business. This included lowering fees and varying funding structures. 

This enabled Global Broadcast to increase business with a customer which had additional projects that were in need of completion.  Paragon’s Invoice Finance team also worked closely with the team at Global Broadcast to ensure the impact of the pandemic on the business was minimised.

Global Broadcast first approached Paragon for support in July 2018 and have since then received the ongoing invoice finance agreement.

Paul Herridge, Managing Director at Global Broadcast, said: “Paragon are able to work alongside us on individual problems and provide flexible solutions, tailored to our business’ needs. Paragon’s Invoice Finance team could not be more helpful and it is a huge asset to have them working with us.”

Adrian Taylor, Head of Invoice Finance at Paragon, said: “We pride ourselves on offering a flexible service and treating our customers fairly, so we are really pleased that we were able to be a further arm of support for Global Broadcast when difficult times hit.”

For further information contact:

Amy Lange
Media Relations Manager
Paragon Bank
Tel: 0121 712 2526

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