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Paragon Expands Business Solutions With New Partnerships

05-23-13

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.

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