Paragon Bank Technology Finance can offer suppliers use of a Promissory Note structure. These short and simple instruments are often employed by large international corporations to make deferred payments to suppliers, and achieve budgetary advantages.
Suppliers can offer deferred repayments to their customers whilst obtaining payment from Paragon Bank Technology Finance at the point of delivery.
For example, a European bank wanted to obtain software licences for use in its global offices but not make payment for them until a future budget year. PBTF entered into a promissory note with the head office, based outside UK and not subject to UK law. Through a disbursement arrangement, funds were transferred to the software supplier enabling it to recognise the sale.
Speed was one of the main things about them, they deal with broadcast and film equipment a lot so they’re familiar with the industry too, which helps. Unlike other kit, the Talos is both expensive and portable and designed to go on location around the world, and it can be hard to find finance companies that are happy to take the risk on that as there is more to go wrong. But Paragon Bank Technology Finance was happy.
MD, Mark Roberts Motion Control
We have great experience across many sectors in the media & technology industries.
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