The new facility is designed for experienced care home developers and operators and will offer terms from 20 to 36 months.

Paragon is targeting this space given demographic drivers as England continues to face an ageing population.

Adrian Reeves, senior relationship director at Paragon (pictured above), will lead this new proposition.

“Care home schemes are complex and capital-intensive, requiring a lender that understands both the construction and operational challenges,” said Adrian.

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“By backing ambitious and skilled developers, we’re helping to deliver best-in-class care environments for communities across the country — demand for which will continue to grow for years to come.”

Neal Moy, managing director of development finance at Paragon, added: “Over half of our deals are made with repeat customers, reflecting our customer-centric ethos.

“This product launch is further evidence of our focus on building long-term, strategic partnerships with developers to ensure they have the right finance to deliver and thrive.”