BHP expands operations with support from Paragon Bank

Brands Hatch Performance (BHP), a leading automotive distributor, supplier, and manufacturer that is based close to Kent’s world-famous racing circuit, has expanded the range of facilities and products available after securing an ‘invoice and asset financing facility’ from Paragon Bank.

A family-run business that can now provide customers with bespoke in-house manufacturing and credit line facilities, BHP recognised customers’ changing requirements and the reduced reliability of supply chains brought about by the pandemic and worked with Paragon’s SME Lending division to secure five-figure financing for a CNC machining centre with a fourth-axis.

Wayne Hall — Paragon’s manufacturing finance lead — said: “Providing SMEs with access to financing that will help them adapt and grow is at the core of what Paragon is proud to do. It has been fantastic to learn of BHP’s innovative approach and work with them to boost their operations and provide an enhanced service to clients. I greatly look forward to following its success.”

BHP’s new manufacturing capability is enabling it to manufacture parts to order for the growing car-restoration market, improve delivery times for customers, and manage and maintain stock levels effectively; and seeking to enhance the methods by which customers can purchase parts and services, BHP also worked with Paragon’s Invoice Finance team to establish a credit line facility for customers and provide them with greater choice over payments.

Very satisfying
Commenting on the credit line facility provided to BHP, Adrian Taylor — Paragon’s head of Invoice Finance — said: “I am delighted that Paragon has helped BHP to increase payment options for its customers, who now have greater choice over how to acquire the parts and services they need. It is very satisfying to see a thriving business go from strength to strength.”

Morgan Gaskin, BHP’s managing director, said: “We are passionate about providing our customers with the highest standard of service and products; and thanks to the introduction of our new manufacturing capabilities and credit line facilities we can offer an enhanced range of services.

“The pandemic gave us the opportunity to re-evaluate our operations and develop new ways of supporting our customers. As people increasingly chose to work at home on their vehicles, we needed to supply them with a growing number of replacement parts as supply chains were decreasing in capacity fast. This situation provided us with the impetus to start manufacturing in-house so that we could better serve our growing customer base.”

She concluded: “Paragon shares our vision for BHP and the growth potential created by an evolving market and customer needs. They took the time to understand our ambitions and delivered invoice and asset-financing solutions that will provide customers with an enhanced service and greater choice.”