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Paragon launches into aviation finance market

  • UK specialist bank Paragon launches into aircraft finance market
  • Paragon to provide finance on fixed wing, corporate jets and rotary aircraft
  • Aviation team led by Alison Jones, experienced aviation finance specialist

Paragon has launched the latest addition to its asset finance portfolio, introducing aviation finance for individuals and companies seeking to purchase new and used aircraft in the UK, refinance aircraft already mortgaged with other lenders, or release equity on aircraft owned outright.

Paragon will provide finance on general aviation aircraft, including fixed wing aircraft and helicopters, as well as business aviation aircraft, including turbo-prop aircraft and corporate jets, starting at a minimum finance amount of £100,000.

Facilities can be structured for a term of between one and seven years. They include capability for seasonal payments, flexible terms and can be tailored to meet each customer’s individual requirements.

Key to Paragon’s aviation finance offering is a commitment to provide outstanding customer service and continued support for customers across their lifelong aviation journey from a highly experienced team.

The aviation finance team is led by Alison Jones, as Head of Aviation. Alison joins from Lombard where she gained over 30 years’ experience in asset finance, specialising in aviation for the last 13 years and having funded more than 400 aircraft. Alison brings the detailed specialist lending expertise to aviation finance that Paragon is known for across its wider product portfolio.

Alison Jones, Head of Aviation at Paragon said:

I’m excited about the prospects for Paragon’s launch into the aviation finance market. By consulting with leading aircraft appraisers, law firms, insurance specialists and aviation authorities, we’ve built a flexible and competitive finance proposition that lets us tailor finance for a wide range of aircraft types and use.

By combining Paragon’s standing as one of the UK’s leading specialist lenders and the team’s in-depth aviation expertise, I’m confident that we’ve created a proposition that will expand competition and choice for customers looking for funding in this growing market

Since launching at the end of October 2017, Paragon has financed six helicopters and the product continues to take off at an accelerated pace.

8 February 2018