Paragon Bank’s SME Lending division has provided an £800,000 finance package to Telford-based Stokey Plant Hire to modernise its fleet through the purchase of three new pieces of equipment.

The Shropshire-based plant hire company has purchased two B30E Bell dump trucks and a LiuGong 952E excavator, replacing three older pieces of machinery Paragon had previously funded.

Stokey Plant Hire Ltd is a family-run business offering quarrying, earthwork and plant hire services that has been operating for over 50 years. The business is run by Managing Director Sarah Jones, who took over from her father in 2007.

This deal was led on behalf of Paragon’s SME Lending division by Henry Oakes, Business Development Manager in the Vendor team, headed by Terry Lloyd.

Stokey Plant Hire Managing Director Sarah Jones commented: “It’s been great to work with Henry and the Paragon team again to finance three new pieces of machinery. We have worked with Paragon for eight years and continue to do so because of its efficiency and knowledge of the industry.

“It’s refreshing working with a lender that understands the industry we operate in and the machinery that we’re looking to purchase.”

Paragon Bank SME Lending Division Business Development Manager Henry Oakes added: “We were delighted to be able to support Sarah and the Stokey Plant Hire team to fund three new pieces of equipment, enabling the company to refresh its fleet.

“At Paragon, we work with clients in different industries, from construction to agriculture, and our teams specialise in various sectors to be able to offer valuable insight and support to our customers.”

For further information contact:

Hannah Kolarski-Daniels
Media Relations Manager
[email protected]
Paragon Bank
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.