UK Credit secures £17.5m from Paragon to expand its guarantor lending operations
The financing from Paragon will support the guarantor lender in pursuing its growth plans.
UK Credit is a guarantor lender established in Norwich that provides consumer loans for purposes such as car purchases and debt consolidation.
Guarantor lender UK Credit has raised over £17.5m in funding from Paragon. The capital will support the company as it expands its operations within the guarantor loans sector and continues serving consumer borrowing needs.
The transaction marks another addition to the portfolio of Paragon's Structured Lending division, which has deployed more than £130m across various specialist financial institutions. UK Credit intends to direct the fresh investment towards backing customers for vehicle purchases, debt consolidation, and home improvements.
Established in 2010, the Norwich-based firm operates in the growing guarantor lending market while maintaining a focus on responsible credit practices.
From the founder
"We are delighted to have secured Paragon as a key financing partner for UK Credit."
Graham Eke
deputy Chief Executive at UK Credit
Investor perspective
"It is extremely rewarding to be able to help UK Credit with additional financing and support the company in its next phase of growth. We are delighted to be working alongside another excellent management team which has successfully built a market leading franchise."
Lewis Fitzsimons
Senior Director – Structured Lending, Paragon
Use of funds
- 01Scale operations