Promarine Finance, a marine mortgage specialist, was founded in 2010 by Stuart Austin.

The company provides financial support for purchasing leisure vessels, such as motorboats, sailing yachts, and canal boats.

Promarine has built a solid reputation for customer relationships and flexible service terms.

The company’s new financial support from Secure Trust Bank Commercial Finance (STB CF) will help it continue to grow.

Mr Austin, managing director at Promarine Finance, 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.”

The company also aims to offer improved terms to the market.

Debbie Partridge, regional sales director at Secure Trust Bank Commercial Finance, said: “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.”

Legal advice was provided by Bermans Solicitors, and due diligence by Hilton Baird.