Fleet News

Newark Vehicle Hire secures six-figure funding from Paragon

2021-Maxus-eDeliver

Newark Vehicle Hire has secured a six-figure funding package from Paragon SME Lending to help expand its fleet, including the addition of electric vans.

The Nottinghamshire van rental company has acquired eight Mercedes 315 Sprinter Vans and two Maxus Electric Vans. The latest additions bring its total fleet to 259 vehicles, including 23 electric vans.

Newark Vehicle Hire has ambitions for at least half of its fleet to be electric within the next five years. The electric vans will be primarily used for delivery companies to hire on a flexible basis.

Newark Vehicle Hire was established in 2013 by managing director Dan Fletcher and employs nine people at its base in Abbots Way.

He said: “We aim to be a national supplier of rental vehicles and are aware that some cities within the UK will soon have designated areas where conventional ICE vehicles will be prohibited from driving.

“Our aim is to meet these changes and challenges by offering a wide range of EVs to our clients, present and future.”

The finance package was organised through Emma Robison, a director with commercial broker BFS UK. Joe Blanthorn, business development manager for the north region, led the funding on behalf of Paragon SME Lending.

Robison said: “Newark Vehicle Hire has ambitious growth plans and its fantastic to support the company as they transition to electric. Paragon was very easy to deal with and the process was smooth.”


Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee