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Equipment Finance News Paragon expands finance offering to soft assets Published: 21st January 2019 Share The asset finance division of UK lender Paragon has expanded its offering to include soft assets ranging from IT to office equipment. The service adds to its existing support for traditional hard assets and reflects the changing nature of business finance, according to the company. Richard Doe, managing director for commercial lending at Paragon, said: “As a specialist SME lender, our expansion into financing soft assets as well as hard assets reflects how asset finance is moving gradually from standard hard assets associated with factories and workshops to a huge growth in soft assets. This could be everything from software to shop fittings or office furniture. “Paragon is working hard to improve access to funding for British companies, from someone who is self-employed to a mid-sized company, as our aim is to support SMEs in achieving their financial ambitions and to thrive.” According to official government data, 75% of UK businesses are in service industries, with construction accounting for 17% and manufacturing 5%. Finance Connect Finance Connect brings you news and updates about UK and European auto, equipment and asset finance providers. Sign up to our newsletter Featured Stories News87% of European firms say equipment ownership is constraining growth Corporate Member Newsgrenke reports €15.5m Q1 earnings as new leasing business rises 4.2% Corporate Member NewsParagon-backed solar scheme helps SMEs cut energy costs Equipment Finance
