Paragon Bank’s small and medium enterprise (SME) Lending division has expanded support teams to speed up lending decisions.
The credit and risk team grew by 30%, giving brokers and vendors direct access to move enquiries to approved decisions swiftly.
Meanwhile, the pay out team added six new members to liaise with brokers for necessary documentation, ensuring quick client payouts.
Ian Galbraith was appointed as standards and performance manager to oversee sales processes and drive product and process improvements.
The broker sales team now includes Broker North, Broker South, and Broker Central to assist across all regions.
Paragon also appointed Alfa to implement a new back-office system, aiming to enhance service efficiency.
John Phillipou, managing director of Paragon SME Lending, said: “Paragon SME Lending had a brilliant year in 2024, where we lent over £480m to small and medium businesses across the UK.
“We are determined to support more customers this year, which is why we’ve implemented these changes to provide an efficient and high calibre service, making the lending process as smooth as possible.
“Combined with the delivery of a new back office system, we are building a great platform to drive future growth for the business.”
Stewart Good, sales director of Paragon SME Lending, said: “These changes will supercharge our lending operation, enabling our sales teams to focus on delivering for more customers, supported by a back office team that can engage directly with brokers and vendors to efficiently process applications.
“We have invested in our team and now boast one of the largest in the sector, ready to support even more customers.”
