Haydock to Fund Clean Air Financial Support Scheme
Haydock Finance has been announced as an appointed financier on Greater Manchester’s (GM) Clean Air Financial Support Scheme (FSS).
Eligible applicants will be able to use their funding award directly with Haydock or via accredited vehicle dealers to arrange finance to help upgrade non-compliant vehicles to lower emission vehicles ahead of the charging Clean Air Zone being introduced in Spring 2022.
Greater Manchester has secured more than £120m government funding to help local businesses upgrade vehicles, including support for light goods vehicles (LGV), vans, heavy goods vehicles (HGV), coaches, hackney carriages, private hire vehicles (PHV) and minibuses.
The categories of vehicles included in the CAZ, and minimum emission standards, are available at cleanairgm.com. Private cars, motorbikes and mopeds are not included in the GM Zone.
Funding will be distributed through the Financial Support Scheme which will offer eligible owners of a non-compliant vehicle the option of either a lump sum grant, subsidised finance or a combination of the two to support upgrading to a compliant vehicle and ultimately avoid paying daily charges.
Haydock Finance is a business finance specialist who has been supporting UK SME growth for over 40 years. They provide supportive business finance to a diverse range of businesses, across many different industries.
GM invited tenders from Financial Conduct Authority authorised funders to join the panel on its FSS in January 2020. Following a competitive tender process, Haydock were appointed by GM.
The GM-wide Clean Air Zone will commence in May 2022 for buses, HGVs and out of area hackney carriages and private hire vehicles (PHVs). From 1 June 2023, it will include light goods vehicles, vans, minibuses, coaches, Greater Manchester licensed hackney carriages and PHVs.
Applications for the FSS will open on 30 November 2021 for applications from eligible HGV owners, with applications for other vehicle owners due to open at the end of January 2022.
Haydock’s Head of Vendor Mike Boyes said: “We are thrilled to be appointed as a lender for Greater Manchester’s Clean Air Financial Support Scheme and support SMEs with the purchase of a compliant vehicle.”