Promarine Finance, a specialist provider of marine mortgages, has secured a £30 million revolving facility from Secure Trust Bank Commercial Finance (STB CF) to support its growth ambitions.

The funding will enable the firm to expand its operations while continuing to offer tailored finance solutions to boat buyers.

Founded in 2010 by Stuart Austin, Promarine Finance provides marine mortgages for a wide range of leisure vessels, including RIBs, motorboats, sailing yachts, and canal boats.

The company benefits from a team that includes experienced boat owners who understand the needs of fellow buyers and brokers.

Austin said: “When I first spoke with Debbie from STB, I said it was ‘too good to be true’, a statement that I have since repeated a lot of times. As an independent lender, it has been difficult to find a bank that understands our unique risks and is willing to support us, but the STB CF team has been supportive since our first conversation.

“The funding will provide us with the flexibility and sufficient headroom to continue expanding. It was great to work with Alex at Bermans again, who has supported us over the past five years and really looked after us in a timely and friendly manner to get this deal completed. We pride ourselves in our people who make a difference for our customers, and we have found STB to have the same values, making for a good fit.”

Debbie Partridge, regional sales director at Secure Trust Bank Commercial Finance, added: “It’s been an absolute pleasure to work with Promarine Finance on this funding round. Working with the business, we have structured a tailored facility that will help them continue to scale their operations.

“Stuart and the team are making significant waves in the industry, and we’re excited to support them as they embark on further growth.”