Paragon Lending Solutions is another financial institution that is providing short term secured asset-backed finance to South Africans who do not meet the required requirements in banks. The creditor has products that are designed to meet client’s needs.
Paragon is a key creditor which has chief among other things its funding in place and a genuine appetite to lend, the expertise in understanding the value and potential of fixed property, a focus of improving its clients’ financial position and the track record, operational systems and people to be the leading credible non-bank lender in South Africa.
The lender is unique in the sense that some of the features that are characterized on its loans are not offered by other creditors. Below is what a client will get when they get a loan from Paragon Lending Solutions:
- Innovative financing solutions for time-sensitive transactions throughout South Africa
- Funding for property purchases, working capital or other transactions
- Funding for clients who cannot secure loans from commercial banks
- Funding for developers to unlock the value in their properties
- Funding where there are no hidden costs and fees
The lender is not a rival to the banks considering that:
- It lends to clients who fall outside the banks’ lending criteria
- It subscribes to the principles of secured asset-backed lending
- It is a short-term lender secured by property
Funds offered by Paragon can only be repaid within 12 months and where interest is serviced monthly and capital is repaid at the end of the period.