The first loan was for the development of eight units — four barn conversions and four residential homes — in Tempsford, Bedfordshire.
The first scheme received a £3.1m loan from Paragon at 64% LTGDV.
The second £5.85m was secured for the purchase and construction of 10 new-build homes in Goffs Oak, Hertfordshire.
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Tom Berry, asset finance advisor at Arc & Co (pictured above) commented on the Bedfordshire scheme: “In an ever-changing market, we wanted to expand the client’s exposure to new lenders, which has complemented his long-term corporate financial strategy.”
Tom continued to praise Paragon’s ability to work with new and existing clients, allowing them to continue developing, given the “trying times” we find ourselves in.
“I am delighted that both clients developments could be aided by Paragon Bank.”
Adrian Reeves at Paragon Development Finance said: “Arc & Co were a pleasure to deal with, as they have been on every occasion.
“In these difficult times, Tom played a vital part in handling the intricacies of this case with a new-to-bank client.”
Earlier this year, Arc & Co announced it arranged approximately £199.3m of development finance in 2019.