Roma Finance, the Manchester-based bridging finance and development lender, has secured a significant three-year revolving credit facility and securitisation from The Royal Bank of Scotland in support of its ambitious business growth targets. The new funding line, which 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, a patron of the NACFB and executive Board member of the ASTL, are an independent principal lender offering 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, at 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.”
Finance Director, Keith Richardson, 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.”
The Royal Bank of Scotland team which supported the deal included: Chris Yau, Relationship Director, Corporate Coverage; and Michael Murray, Filip Skolnik and Jamie Parish from the Financial Institutions team.
Chris said: “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.”
Michael added: “We were delighted to support Roma Finance with a credit facility which will assist the business in its growth aspirations and look forward to working with the team at Roma Finance in the future.”