Paragon Bank’s SME lending division has created a number of new roles and expanded its support functions to deliver an improved service and drive quicker lending decisions.
Paragon has bolstered its credit and risk team by 30%, providing brokers and vendors direct access to the team. The expanded credit and risk team will liaise directly with brokers and vendors to progress an enquiry to an approved credit decision, allowing the sales team to spend more time working closely with clients and intermediaries.
To further support a more fluid application to origination process, the division’s Pay Out team has been expanded by six employees. This team will, again, liaise directly with brokers and vendors to generate the correct documentation, working with them to gain any further information that may be required, enabling Paragon to maintain its ability to pay out clients quickly.
Additionally, Ian Galbraith has been appointed to the newly created role of standards and performance manager. This role will oversee the sales process and ensure it’s running as efficiently as possible, adhering to the relevant regulations and looking at how Paragon can improve its products, proposition and processes.
A further change will see the broker sales team now comprised of three teams - Broker North, Broker South and Broker Central - to support intermediaries across each region.
John Phillipou, managing director of Paragon SME Lending (pictured), commented: “Paragon SME Lending had a brilliant year in 2024, where we lent over £480 million 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, added: “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.”
