Business Credit Accomodations

Whether your business is large or small, Paragon Bank is in a position to provide the type of financing that suits your requirements. Our standard loan products are described here. If you have unique needs, we will be happy to customize a package for your particular situation.

Revolving Line of Credit
This accommodation is established on an annual basis, it is designed to finance current assets. Accounts receivable and inventory are used as collateral.

Equipment Loans
If the need is to finance the purchase of equipment, Paragon Bank will structure a term loan payable monthly over a specified period.

Real Estate Mortgages
Paragon Bank is happy to finance the construction or purchase of commercial buildings with a real estate mortgage. If the plan is to build a building, interim construction loans may be available, when Paragon Bank is the permanent lender.

Letters of Credit
If your business includes importing or exporting, you may have a need for a documentary letter of credit. Paragon Bank provides both documentary and standby letters of credit.

Ready Reserve
Ready Reserve is an automatic advancing line of credit attached to your business checking account. It serves as an overdraft protection as well as standby credit for any other needs.