The discounting of receivables by some leading specialist software companies enables them to have bilateral finance agreements with their public-sector customers but assign the payments on a non-recourse basis to Paragon Bank Technology Finance. This process allows the vendors to secure on-going relationships with their customers and recognise a sale of software in a method that is compliant with the Sarbanes-Oxley Act of 2002.
For example, a leading London-based NHS Trust teaching hospital recently acquired the use of licences and maintenance for a fixed annual repayment of £200,000 payable over a 4 year term. The cost of maintenance and support is fixed for the term, avoiding annual increments payable if only a one-year licence is acquired.
We offer a variety of finance solutions to the media & technology industries.
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We have known the Paragon Bank Technology Finance team for many years and trust them implicitly, nothing is too much trouble for them whether it be a small item of kit or a complete studio, they know and understand the industry inside out and are only too happy help. As a result they are our go to guys for any sort of finance required.
Director, 3D Broadcast Ltd