Paragon Florida, Inc. (Paragon) was incorporated as a Florida nonprofit corporation with the Florida Division of Corporations on May 10, 2006 and commenced operations in January 2008. Paragon’s initial mission was to be a financing entity in communities that are underserved by traditional financing entities and ensure a more balanced and representative playing field in Palm Beach County and the emerging biotech sector for Black-owned businesses.
In 2011, Paragon became a Community Development Financing Institution (CDFI), a designation conferred by the CDFI Fund of the U.S. Department of Treasury. As a result of this certification, Paragon accesses financial and technical assistance from the CDFI Fund through the CDFI Program to support its community development financing and development programs for businesses in Palm Beach County.
In 2012, Paragon became an intermediary re-lender of the U.S. Small Business Administration (SBA) and was awarded $1 million under the Intermediary Lending Program (ILP) to create a new Venture Loan Fund that will allow Paragon to make loans of up to $200,000.
Paragon’s leadership desires that Paragon achieve its mission and accomplishes its purpose with an aura of excellence. As such, the following core values serve as guiding principles: