Roma Finance has secured a major three-year revolving credit facility and securitisation from The Royal Bank of Scotland to support its business growth targets.
The Manchester-based bridging finance and development lender’s new funding line, which it says is one of the first such bridging lender transactions post-Brexit, will allow Roma to lend up to a further £50m a year and move forward with its continued growth and expansion plans.
Established in 2008, Roma Finance offers short term bridging loans secured on residential, commercial and industrial properties throughout England, Wales and Scotland and is a new client of The Royal Bank of Scotland.
Scott Marshall, managing director of Roma Finance, said: “It’s an exciting time at Roma Finance as we look to take advantage of favourable opportunities in what looks like becoming a counter-cyclical environment.
“In particular we are delighted to be one of the first bridging companies to have completed a post-Brexit securitisation which reflects the strength of our proposition and the unique way we underwrite transactions.”
Keith Richardson, Roma’s finance director, said: “The funding facilities from The Royal Bank of Scotland will allow us to further develop our business and establish new partnerships and better funding options for our customers.
“The team at The Royal Bank of Scotland in Manchester and London have provided excellent specialist support ensuring that we are ideally placed to take advantage of the opportunities of the post-Brexit business environment.”
Chris Yau, relationship director at RBS, added: “Roma Finance is a relative newcomer to the short term lending industry but thanks to its strong management team has already established itself as a leading provider of bridging finance to individuals and companies across the country.
“Roma Finance have a solid business plan to take the business forward and we are delighted to support their growth and development. We wish Roma Finance every success for the future.”