This £15m commitment will enable Roma Finance to support smaller housebuilders with funding to assist with the construction of new residential homes.
British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, has committed £15m to Roma Finance.
This will enable Roma Finance to support smaller housebuilders with funding to assist with the construction of new residential homes.
Roma is active in commercial to residential conversions and small to medium-sized new-build housing developments, with projects ranging from £75,000 to £3m.
Judith Hartley, chief executive of British Business Investments, said: “British Business Investments is committed to ensuring smaller businesses across the UK can access as diverse a range of finance options as possible, to help them grow and succeed.
"We also seek to support sustainable growth and enable the transition to a net zero economy, by improving access to finance for smaller businesses.
"This £15m commitment to Roma Finance supports our objectives as Roma Finance provides much needed support to the smaller housebuilding sector which has been subject to restricted access to funding in recent years.
"Supporting independent regionally based operators, such as Roma Finance, helps to diversify the finance market and provide more choice for companies across the UK, so they can access the finance they need to grow and prosper."
Scott Marshall, managing director of Roma Finance, said: “We’re thrilled to announce this new funding arrangement which will help us support yet more good quality smaller schemes around the country.
“British Business Investments’ goal is to make finance accessible to smaller businesses. Our visions and ideals are very much aligned and we have close relationships with many builders and property investors.
"We’re committed to funding projects that benefit our communities and we offer fast decisions, access to our significant property expertise and a dedicated point of contact throughout the whole process, from application through to completion of the build and resale.
"We are very excited about this new partnership, and this will help our customers.”
