Paragon Bank’s SME Lending division is seeking further growth in its Vendor proposition after reporting a sharp increase in both lending volumes and transaction activity over the past year.
The lender said advances within its Vendor proposition increased by 42% over the last 12 months, while transaction volumes rose by 67%, driven by investment in technology and expansion of its sales and support teams.
Paragon said greater adoption of its business portal by dealers and vendors has played a significant role in the growth, particularly through an increase in lower-value proposals submitted via the platform.
The portal enables dealers and vendors to submit finance proposals, track their progress and, where appropriate, prepare documentation once transactions have been approved.
Paragon said the system is also helping support larger and more complex transactions by applying consistent checks throughout the process. While these cases may still require manual underwriting, the platform helps identify areas requiring additional review, supporting a more efficient assessment process.
The lender will use the Hillhead 2026 exhibition to strengthen relationships with dealers, vendors and manufacturers operating across the quarrying and construction equipment sectors.
At the event, Paragon will focus on demonstrating how its finance offering can support dealers and customers investing in essential operational equipment through a relationship-led approach.
The Vendor division has also expanded its sales team with the appointments of Andrew Kenny and Joshua Atkinson as business development managers, bringing additional experience across sectors including transport and HGV finance.
David Gee has also joined the business from Close Brothers, replacing a retiring business development manager.
In addition, Paragon has established an internal sales desk led by Sharon Palmer, designed to accelerate simpler transactions while allowing field-based business development managers to focus on larger and more complex facilities.
Earlier this year, the bank also appointed Richard Van Dort as head of business development, vendor, to support relationships with major vendors.
Terry Lloyd, head of vendor, SME Lending at Paragon Bank, says: “Dealers and vendors want finance partners who can help them keep momentum with the customer. When somebody is looking at a piece of equipment, speed and communication matter.
“We have invested heavily in the portal, in our processes and in our people, and that is now making a real difference. Lower value and 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.”
