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Paragon Expands Business Solutions With New Partnerships

Memphis, TN - May 23, 2013

Paragon National Bank has expanded the service offerings available in its business solutions package to assist small businesses in the region. While the bank has always offered a wide range of loan and deposit products to suit the needs of its customers, Paragon recently enhanced its professional services to include new partnerships with Clay & Land Insurance and Ovation Payroll. Additionally, the bank recently launched Paragon BusinessManager Solutions, which helps small business owners better manage their cash flow.

“We pride ourselves on anticipating and serving the needs of our small business customers,” said Robert Shaw, Chief Executive Officer of Paragon National Bank. “Our new professional partnerships will help Paragon further assist local business owners in managing their financial needs and allowing them time to focus on other key areas, like customer service or business expansion.”

The bank’s new partnership with Clay & Land will offer customers access to a wide variety of insurance options, including property, general liability and group medical plans for their businesses. Clay & Land also provides a full line of personal insurance options, including auto and home. Paragon’s relationship with Ovation Payroll provides customers with access to several services, including management of payroll checks, direct deposit, laser check signing and 401(k) reporting, as well as several optional services ranging from time and attendance solutions to employee handbooks.

Paragon’s new BusinessManager platform helps small businesses manage and maintain a reliable cash flow, as well as supplement new business efforts, improve payment habits to vendors, purchase equipment and hire staff. The program allows a customer to submit one or more batches of invoices to Paragon, who then purchases the receivables on a discounted basis. A portion of the money the business receives is placed into an interest-earning savings account, while the rest of the funds are placed in the company’s checking account.

P.O. Box 2022  |  Memphis, TN  38101-2022 |  Phone: 901.273.2900  |  Fax: 901.273.2908  |  info@bankparagon.com
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