The bank launched into development finance in November 2015 and, after initially focusing on residential projects across London and the South East, Paragon is now also funding projects in the Midlands and North of England.
Paragon Bank helped complete the delivery of homes in Catford in South East London worth just over £1.7m today.
The bank launched into development finance in November 2015 and, after initially focusing on residential projects across London and the South East, Paragon is now also funding projects in the Midlands and North of England.
It offers loans from £500,000 to £10m.
Fintan O’Riordan, development finance director at Paragon Bank, said: “Progress on this development has been excellent and it is great to see the first loan we approved now delivering homes.
“Small scale builders and developers have an increasing role to play in helping deliver the housing the country needs, and development finance is key to facilitating this.
“It has also been fantastic to assist a highly experienced developer on this project. Our business is based upon developing meaningful relationships with experienced developers.”
