Roma Finance secures GMCA funding boost

By Bridging Loan Directory 17th December 2024

Roma Finance, the Manchester-based property development lender, has announced a £2 million increase of its funding line with Greater Manchester Combined Authority (GMCA) which will help to foster home building and the creation of new jobs.

The increase from £3 million to £5 million will enable the business to further expand its loan capacity which is expected to reach £250 million by December 2025.

Established in 2008, the business offers bridging and development property finance products focussed on supporting developers and investors looking to build property across England, Wales and Scotland.

Having started out as a team of one, the company now boasts a team of 60 working to secure more than 100 fundings per month and help unlock property development and ownership.

Matthew Severs, finance director at Roma, said:

“Funding from the GMCA has enabled us to continue with our exciting growth plans and our people play a key role in that.

In the last 12 months we have been able to increase our workforce to support our expansion with the confidence of GMCA funding, and we are proud of the fact that the vast majority of our employees live within the Greater Manchester area, he place we call home.

We look forward to utilising the increased facilities from GMCA to support this strategy going forward”.

Councillor David Molyneux, GMCA Portfolio Lead for Resources and Investment, commented:

“The additional £2 million funding for Roma Finance underscores our commitment to supporting initiatives that drive economic growth and address the critical needs for housing across our city-region.

By facilitating more financing options for property developers and builders, we can help deliver much-needed homes and create valuable opportunities for local employment and investment in Greater Manchester.”