Paragon target further growth in equipment finance market

PARAGON Bank’s SME Lending division will use Hillhead 2026 to strengthen relationships with dealers, vendors, and manufacturers, following significant growth in their vendor finance proposition.

Over the past 12 months, the division has recorded a 42% increase in advances and a 67% increase in transaction volumes, driven by continued investment in technology and the expansion of its sales and support teams.

A key driver of this growth has been the increased adoption of Paragon’s online business portal, which allows dealers and vendors to submit finance proposals, track progress, and manage documentation throughout the approval process. The platform has proved particularly effective in handling higher volumes of lower-value transactions, whilst also helping to streamline the assessment of larger and more complex funding requirements.

At Hillhead, the vendor team will focus on demonstrating how relationship-led finance solutions can support equipment dealers and their customers when investing in essential plant and machinery.

To support continued growth, Paragon have expanded their business development capability by appointing Andrew Kenny, Joshua Atkinson, and David Gee, bringing additional industry expertise to the team. The bank has also established a dedicated internal sales desk, led by Sharon Palmer, to accelerate the processing of straightforward transactions and allow field-based business development managers to focus on more complex funding opportunities.

Further strengthening the division, Richard Van Dort recently joined as head of business development vendor, with responsibility for developing relationships with major vendors and supporting future growth across the sector.

Terry Lloyd, head of vendor SME Lending at Paragon Bank, said: ‘Dealers and vendors want finance partners who can help them maintain momentum with the customer. When someone is considering a piece of equipment, speed and communication matter.

‘We have invested heavily in the portal, our processes and our people, and that is now making a real difference. Lower-value, more straightforward transactions can move through the system much more quickly, while our business development managers can focus their time on larger or more complex deals that need a different level of support.’

He added: ‘Our message at Hillhead is very clear. We are here to help dealers sell more. That means being responsive, being flexible and giving dealers confidence that, when they bring Paragon into a conversation, we will get on with the job.’