Van specialist lands six-figure funding to invest in low emission vehicles

A London-based van specialist has expanded its fleet with six-figure funding from HSBC UK.

Ace Rent A Van UK has secured new ultra low emission vans thanks to the funding package from the bank.

The firm, which has branches in New Cross and Croydon, has invested in 30 new ultra low emission vans in order to meet the new London-wide Low Emission Zone standards announced by The Mayor of London in March.

Paul Verrico, company director at Ace Rent A Van UK, commented: “We’ve continuously looked to adapt our business to cope with economic downturns. Over the last eight-months in particular we’ve seen substantial growth across our van rentals as home delivery services have evolved and house moves have increased in line with the stamp-duty holiday.

“The new ultra low emissions measures could have really stunted the potential growth in our business. However, HSBC UK’s support, and the support of our relationship manager Deepa Murali, has enabled us to continue to diversify and allowed us to strengthen our fleet.

“These additions will not only ensure we meet the new legislation requirements but also continue to deliver the best possible service provision to our customers.”

Jason Mowe, HSBC UK area director for South East London Business Banking, added: “We were delighted to support Ace Rent A Van UK with an asset finance facility to enable the purchase of additional low-emission vans to further support and strengthen its business.

“As the sector continues to bounce-back, it’s great to see the company continue to thrive and we look forward to working with them to support their future franchising and growth ambitions.”