Paragon Bank supports start-up FinniGroup to create a family plant hire business
Paragon Bank is enabling three Leicestershire-based sisters to follow in the footsteps of their father by providing funding to establish their plant hire business, FinniGroup Ltd.
Paragon has built a long-standing relationship with Paul Finnegan, owner of Leicester-based plant hire firm, Joinpoint Ltd. After years of supporting Paul to finance dump trucks, Paragon has now been able to support daughters, Hollie, Jade and Ruby in establishing their own businesses.
After Hollie and Ruby had already established their own plant hire businesses, they decided to form FinniGroup Ltd alongside Jade, a business that they can share and build together.
Paragon has enabled the initial investment and payment on the equipment for FinniGroup, providing a funding package of over £250,000 for two Bell 30E Dump Trucks, to begin building a fleet.
Hollie Finnegan, joint owner at FinniGroup, said: “After seeing the success of our father’s business, we wanted to invest in some plant equipment ourselves and learn more about the family business.
“Paragon has been a key factor in us starting up our new joint business. Without this we wouldn’t have been able to start FinniGroup and we hope to use Paragon’s support more as our business grows. We knew that using Paragon was a great option for us and the best support we needed, at a rate we are comfortable with. Paragon provides a friendly and reliable service, and we know that the team is only a phone call away.
“Even though plant hire and construction has traditionally been male dominated, growing numbers of women are getting involved. Everyone we’ve met along the way, from customers to suppliers, have all been lovely and encouraging.”
Terry Lloyd, Head of Construction at Paragon, said: “I have worked with Paul and Joinpoint for many years, so it is great to now be supporting the next generation of his family.
“We understand not only the needs of FinniGroup but also the machinery that Hollie, Jade and Ruby are investing in, which makes a real difference to a customer.”