Paragon’s asset finance business has been incorporated under the company’s main brand, along with all other divisions.
The bank’s car finance division was also renamed to “motor finance”, in order to reflect “the growth in Paragon’s product range, having expanded its funding to include finance for light commercial vehicles and leisure vehicles such as motorhomes and caravans, as well as cars.”
Additionally, Paragon has expanded its senior ranks with hires in the vehicle and aviation finance segments.
Alison Jones has joined as head of aviation, and previously worked as relationship director for aviation finance at Lombard.
Dalen Trenam, meanwhile, comes from a national corporate sales manager role for vehicle solutions, also at Lombard, and is now sales director for Paragon’s vehicle finance.
Julian Rance, director of Motor Finance, said: “This is an exciting time for our business. Since launching, we’ve achieved consistent growth and that has allowed us to position ourselves as a trusted partner to brokers and car dealers up and down the country and to expand our product range.
“Alongside cars we now offer finance on vehicles including vans, motorhomes and caravans. It’s an ideal time to refresh our brand and take our business forward using ‘motor finance’ to better reflect the funding that we offer.”
Gary Leitch, managing director of Asset Finance, said: “After achieving strong growth in new lending in the first half of 2017, we’re looking forward to further expanding our customer base following exciting new system developments and our broader sector coverage.
“Bringing our products onto a single website gives customers and intermediaries full sight of our product range.”
Last month, the company announced it was renaming from “Paragon Group of Companies” to “Paragon Banking Group”.