Paragon accelerates credit decisions
27/05/2026
Paragon Bank’s SME Lending division has significantly improved the speed and consistency of its credit decision-making over the past year, following continued investment in people, processes and technology to enhance the customer experience for brokers, vendors and SMEs.
Across a twelve-month period, the Southampton-based lender has reduced the average time from receipt of proposal to credit decision by approximately 39pct for asset finance deals, helping brokers and SME customers move more quickly from application to funding.
Service improvements have been accompanied by stronger and more consistent outcomes for customers, with offer rates increasing by around 13pct year-on-year. Conversion from offer to completed transaction also improved, rising by around 4pct, while Paragon’s SME customer base grew by approximately 8pct over the same period.
These gains have supported increased activity across a range of asset categories. Asset types driving the largest increases in deal volumes included cars, agriculture, commercial vehicles and waste and recycling. Some of the highest increases in the value of deals were seen in agriculture, plant machinery and light commercial vehicles, reflecting ongoing demand for essential operational assets among SMEs.
Phillip Hughes, Deputy Managing Director of Paragon SME Lending (pictured), said, “Speed and reliability really matter to SMEs and the brokers and intermediaries who support them.
"By continued investment in our people, platforms and processes, we’re consistently making quicker, better-informed decisions while maintaining robust credit standards. That ultimately translates into a better experience for our customers, as evidenced by the fast-growing number of SMEs we serve.”
Comment on this article
