Leicestershire-based welfare cabin provider Reactive Hire has added a number of new environmentally friendly units to its fleet thanks to asset financing from Paragon Bank.

The Loughborough firm, which specialises in hiring welfare equipment to the construction sector, acquired the new units after securing £572,000 funding – provided by Paragon’s SME Lending division and arranged via Boss Asset Finance.

The 12ft self-contained Boss units are powered solely by solar panels and are generator free with the energy harvested being stored in large lithium-ion batteries. This is the first mobile welfare cabin in the market in which all electrical operations are powered through the entire year by solar power, meaning no generator is required even as a back-up.

Commenting on Paragon’s support John McClure, Reactive Hire’s Managing Director, said: “Although we never compromise on function and performance, Reactive Hire has always gone that bit further to invest more in features and innovations we know will reduce our fleet’s, impact on the environment. Paragon and Boss Asset Finance were the ideal partners to help us further achieve this goal.”  

Commenting on the funding arranged for Reactive Hire Todd Auger, Business Development Manager in Paragon’s Construction team, said: “With new, environmentally-friendly units coming onto the market there has never been a better time for businesses to invest in adding green assets to their operations.

“For businesses to make the transition to green technology it is essential that they are able to access the funding necessary to do so – and Paragon is committed to supporting businesses in acquiring assets that will be beneficial for both them and our environment in the years ahead.”

Commenting on Boss Asset Finance’s role in the process Trevor Jacobs, Business Development Director, said: “We are pleased to be able to assist both Reactive Hire Ltd and Boss Cabins Ltd in putting this deal together for these new units and support Reactive in their endeavours to reduce the impact on the environment.  In addition we are pleased to announce a partnership with Boss Cabins to help fund their DeepGreen units at a reduced broker commission of only 1%, 75% lower than the market average.”

For further information contact:

Tom Frew
Media Relations Manger
Paragon
E: [email protected]
www.paragonbank.co.uk 

Notes to editors:

Paragon Bank PLC a subsidiary of the Paragon Banking Group PLC which is a FTSE 250 company based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group PLC has over £14 billion of assets under management, helping more than 340,000 customers to achieve their ambitions.

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551.