Powell previously spent in excess of 20 years at Close Brothers as a director within its property finance team. He also has specialist expertise in the build to rent (BTR) and student accommodation spaces, alongside experience in the residential development finance sector.
The move signals Paragon’s continued investment in its relationship director team as the firm aims to bolster and widen lending to SMEs across the North West of England and surrounding regions. It also seeks to grow its nationwide customer base and widen its expansion into BTR and other non-residential markets.
Neal Moy, managing director of Paragon Development Finance, said: “Simon brings a wealth of experience and a deep understanding of the development finance market, having worked with developers across a range of sectors.
“His knowledge, relationships and track record will be invaluable as we look to support more developers nationwide and expand our loan book.”
Powell (pictured) added: “Paragon has held a strong reputation in the market for many years, with a well‑established team and a clear appetite to grow.
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“For me, it was an opportunity to join a respected lender that is actively looking to increase its loan book, expand into new regions, whilst continuing to support developers through a challenging market. I’m looking forward to helping Paragon achieve these targets.”
Towards the end of last year, the firm increased the maximum loan size to £60m.
