Business As Usual For Paragon Bank

We are pleased to announce exciting times for Paragon Bank Technology Finance Ltd.

On 25 January we rebranded from Five Arrows Media Finance Ltd, changing our conservative navy blue five arrows for a bright spring green leap into the future. Having rebranded in early January 2015 from our former Fineline Media Finance entity, we have of course been asked by many, "Why two name changes in the space of one year?"

Let me explain. As a business we have been operating within the broadcast and media industries, providing bespoke asset funding solutions for the past 25 years. During that time we have built a strong reputation for service and support, and have assisted many prominent studios, rental houses and post production facilities in purchasing core technology and equipment.

Through much of that time, we were owned by Rothschild, making us the only specialist direct funder in the market place. Indeed, we were still there supporting the media industry after many banks and brokers exited the sector during the recession.

In early 2015 we had the opportunity to rename as Five Arrows Media Finance and become a more visible member of the Rothschild group of companies. However, late last year, Paragon Bank PLC made an unprecedented offer of £117m to purchase the entire Five Arrows Leasing Group (you see, we are not just a media finance company, but have other sibling companies providing niche funding services to the print, veterinary and construction industries as well as specialist vehicle leasing to local authorities).

Paragon Bank is part of the FTSE 250 Paragon Group of Companies PLC. It was launched in 2014 as a new British bank specialising in secured personal loans and buy to let mortgages. The acquisition of Five Arrows Leasing Group gives it the opportunity to diversify its £10.6bn loan book and grow even further.

Whilst this has meant we've once again had to change our name, we are now owned by an exciting and dynamic business with an appetite for growth and commitment to support both us and our customers.

In the short term it will be 'business as usual'. All staff and account managers will remain the same, because we are still kit people as much as we are money people. We remain based in Richmond, and only our email addresses will change; all contact numbers and processes will remain the same, ensuring a seamless transition for all of our existing customers and contacts.

Our direct sales approach, speedy response times and flexibility to make a deal work will also remain. We understand that probably our greatest strength is our people and the relationships they've developed within an industry that is so diverse yet wonderfully interconnected.

We will continue working with manufacturers and resellers to bring 0% subsidised finance offers to the market and support new technology launches, and we can provide funding not just in the UK, but worldwide if the project is right.

However, you will start to see some positive changes. As part of Paragon Bank we now have access to market leading interest rates. We will be putting in place expanded funding lines and will have greater resources to provide all-encompassing funding solutions.

We will also be looking for opportunities to grow and diversify. This, we hope, is reflected in the name change from Media Finance to Technology Finance. We pride ourselves on our expertise in the technology and equipment that serve the film and broadcast industries, but we also fund equipment for AV, digital cinema, digital signage and installations. In fact, anything pertaining to media technology, or even just technology, that you can think of!

So, rest assured. Paragon Bank Technology Finance is the next chapter in a long and successful history in funding equipment to the broadcast and media industries. With a dedication to good customer service, clear communication and no sneaky hidden fees, we believe our reputation precedes us. As Paragon Bank Technology Finance we plan to build on this, so there is no longer a fine line (see what we did there!) when deciding where to finance your kit!

Article by Samantha Arlow, Area Sales Manager – Technology Finance, Paragon Bank.

www.pbtf.co.uk

This article is also available to read at BFV online.

(JP/MH)