Paragon Bank is a financial provider that was established in 1985 in Solihull. They provide products to individuals, businesses and intermediaries. They specialise in providing savings and lending products and they have serviced over 1.5 million customer accounts. Their business products include invoice finance, asset finance, structured lending, buy to let mortgages, property finance and bridging finance.
Paragon Bank Invoice Finance Options
Paragon Bank offers a range of invoice finance solutions that enable businesses to advance funds from their unpaid invoices and be repaid when the customer pays the invoice. The facility includes:
- Advance up to 95% of invoice values
- Receive funds within 24 hours
- Flexible and simple fee structure
- No hidden fees
- Short-notice contract offered
- Can grow with your business
- Suitable for new businesses and MBOs/MBIs
- Option to include Bad Debt Protection
Invoice Discounting
Invoice discounting is a confidential service that is designed to allow businesses to maintain their credit control and customer relationships which means that customers are unlikely to know you are using the service.
Invoice Factoring
Invoice factoring provides a payment collection process as well which allows businesses to focus on running their businesses whilst Paragon Bank will ensure that invoices are paid.
Paragon Bank Invoice Finance Eligibility
Paragon Bank doesn’t detail its eligibility criteria for invoice finance.
Paragon Bank Invoice Finance Rates
Paragon Bank doesn’t disclose its rates for invoice finance.
Paragon Bank Invoice Finance Calculator
Paragon Bank doesn’t have an invoice finance calculator
Paragon Bank Invoice Finance Reviews
Most of the leading customer review sites have reviews for Paragon Bank, although the reviews reflect their personal customers as well as their business customers. The reviews across the sites are mixed but they tend to be overall positive or average.
The greatest number of reviews are on Trustpilot where 42% rate them as excellent and 39% as bad. The positive comments include easy to set up, quick response, good communication, professional and helpful staff, and competitive products. The negative review comments included issues setting up accounts, product conditions not clear, poor customer service, issues transferring money and poor customer service.
The reviews on Google Reviews and Review Centre are a bit more positive and the review comments are similar to Trustpilot.
The reviews on Smart Money People are not as positive but these are all about their savings products.
Trustpilot – 3.4/5 (based on 329 reviews)
Google Reviews – 4.0/5 (based on 118 reviews)
Reviews.co.uk – no reviews
Review Centre – 5/5 (based on 1 review)
Smart Money People – 2.69/5 (based on 48 reviews)
How To Apply For Paragon Bank Invoice Finance?
If you want to apply for invoice finance from Paragon Bank you can either enquire through the website or call them on 01489 776250.
Pros
- Offers higher rates up to 95% of invoice values
- Provides flexible finance and short-term contracts
- Customer reviews are largely positive
Cons
- No information about their eligibility criteria
- No rates are available
Website: Paragon Bank Invoice Finance