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First Bristol Clean Air Zone financial assistance scheme transaction completed

24 November 2022
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A Bristol business has benefitted from £6000 of financial support in the first grant and subsidised finance agreement administered by Shire Leasing PLC through Bristol’s Clean Air Zone Financial Assistance Scheme. The scheme provides direct financial support in the form of a grant, interest-subsidised finance, or a combination of the two to help people and businesses avoid paying a daily charge of up to £100 per day.

Shire Leasing PLC are an independent funder appointed by Bristol City Council to deliver on the scheme and financially support businesses to invest in lower emission vehicles ahead of the upcoming Clean Air Zone.

Julie Henehan, Corporate Development Director of Shire Leasing, said: “Being from Bristol myself, I’m delighted that the City is one of the first in the UK to offer financial support to ease the transition to greener vehicles. As a tried and tested funder in this space, we look forward to supporting many more businesses in and around Bristol."

Shire Leasing’s services on the Scheme are to support businesses, for which Bristol City Council has £32m in government funding to upgrade HGVs, LGVs, taxis, and private hire vehicles to cleaner, compliant vehicles. Through Shire’s  Bristol Clean Air Zone webpage, eligible businesses can submit an online finance application for a Grant and/or subsidised interest finance option, with credit decisions returned within 8 working hours.

The appointment to the Bristol Scheme bolsters Shire Leasing’s ‘Driving Clean Air’ programme, which already supports SMEs upgrade vehicles through other similar schemes across the UK. In 2020, Shire Leasing worked closely with Bath & North East Somerset Council to develop the first Clean Air Zone Financial Assistance Scheme, which formed a framework for other Local Authorities to adopt in their cities. Since financing the very first vehicle on the Bath scheme in January 2021, Shire Leasing played a key role in enabling fleet compliance throughout the city, providing funding for over 40% of all vehicles replaced through the Scheme.

Mayor of Bristol, Marvin Rees, said: “We have always sought to deliver Bristol’s Clean Air Zone in a way that protects those who need it the most. Bristol has secured £42 million of to help people prepare for the CAZ, the most in the country, and part of this large package of support will help Bristol businesses upgrade to cleaner vehicles, while helping us reduce dangerous air pollution and deliver cleaner air for Bristol."

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.

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