The support will mean that Halsbury Homes can finish the remaining 81 detached homes on the scheme in Loddon, Norfolk, earlier than expected.
To date, construction has been carried out in phases of smaller unit numbers.
Jason Green, CEO at Halsbury Homes, said that Paragon’s reputation as a long-term and experienced residential development lender is what attracted it to the bank.
“Closing the financing during this uncertain period underlines its commitment to, and deep understanding of, the housebuilding sector,” he commented.
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“With Paragon's support behind us, we are primed to complete the remainder of our Loddon site and deliver the high quality housing Norfolk so desperately needs."
Steve Hallam, senior relationship director at Paragon, stated that the bank was continuing to support both its existing customers and also new clients, such as Halsbury.
“Our financing will help Halsbury to complete this highly attractive housing development, delivering much needed new homes into the local community.”
Overall, there will be over 200 two-, three-, four- and five-bedroom housing units — with Georgian design — on the site, following completion.