Manchester-based bridging finance and development lender Roma Finance has secured a significant three-year revolving credit facility and securitisation from The Royal Bank of Scotland.
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..
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.”
And finance director Keith Richardson, added: “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.
Yau 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.”