Paragon support the next generation
Financial support from Paragon Bank helps Finnegan sisters build next generation of family plant hire business
THREE Leicestershire-based sisters are following in the footsteps of their father thanks to funding from Paragon Bank to establish their plant hire business, FinniGroup Ltd.
Paragon have a long-standing relationship with Paul Finnegan, owner of Leicester-based plant hire firm Joinpoint Ltd, and after years of providing him with support to finance dumptrucks, the bank has now been able to support his 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 enabled the initial investment and payment on the equipment for FinniGroup, providing a funding package of more than £250,000 for two Bell B30E dumptrucks to begin building a fleet.
Hollie Finnegan, joint owner of 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 have 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. They provide 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’s 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.’