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Close Brothers brings over 600 vehicles to UK roads through Regional Growth Fund

Close Brothers brings over 600 vehicles to UK roads through Regional Growth Fund

Close Brothers Asset Finance today announced that through its involvement with the Regional Growth Fund (RGF), there are an extra 628 ‘wheeled assets’ on the UK’s roads, including 148 buses and coaches, and 441 commercial vehicles.

To date, transport SMEs have received £5m in RGF deposits from Close Brothers Asset Finance, creating 617 new jobs and safeguarding over 50 roles. This has resulted in £29m of additional loans to the transport sector.

The full list of wheeled assets financed is: 

  • Cars  20
  • Buses & coaches 148
  • Forklift trucks 12
  • Heavy commercial vehicles 254
  • Light commercial vehicles 187
  • Tankers / containers 3
  • Trailers 4

John Fawcett, CEO of the transport division at Close Brothers Asset Finance, said: “We have been championing and supporting SMEs for over 30 years now, and I find it gratifying that, as part of our involvement in RGF, not only have we created and safeguarded many jobs, but there are over 600 vehicles on the UK’s roads that may not otherwise have been there.

“Without these physical assets on the road, there wouldn’t be the jobs available for the drivers, mechanics, and other staff. There is also the ripple effect for the support industries in, for instance, manufacturing and services.

“Initiatives like the RGF have a very real impact on our lives. For instance, one of the companies we helped source and finance a vehicle for is an ambulance and medical rescue firm. Then of course there are the manufacturers moving their goods and coach firms transporting people up and down the UK.”