The facility will enable the specialist lender to support smaller housebuilders with funding for the construction of new residential homes.
Roma Finance offers loans for commercial-to-residential conversions and small- to medium-sized new-build housing developments, with projects ranging from £75,000 to £3m.
It is also committed to providing finance for energy-efficient homes — in March last year, the lender completed a £500,000 loan for Avongreen Abode’s Passivhaus project in South Lanarkshire.
British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, aims to increase the supply and diversity of finance for smaller businesses across the UK by boosting the lending capacity of a range of finance providers.
Since it was established in 2014, it has committed over £3bn to providers of finance to UK smaller businesses.
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Judith Hartley, CEO at British Business Investments, said: “We are 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 the lender 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 funding they need to grow and prosper.”
Scott Marshall, managing director at Roma Finance (pictured above), commented: “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.”