Oldham entrepreneur and classic car enthusiast secures £25k startup funding

An entrepreneur in Oldham has secured five-figure funding to grow his garage company.

Romas Videikis, the mind behind Rovi Auto & Performance, plans to use the £25k loan from Business Finance Solutions (BFS) to expand his garage operation and create jobs.

The vehicle repair and recovery firm specialises in restoring classic cars. Romas, a former warehouse operative, has already bought, fixed up and sold a number of vehicles.

With the new funding in place, he intends to focus on this area as a unique arm of the business.

Rovi Auto & Performance’s services currently include body work, engine rebuilds and body polishing, but Romas plans to expand the company’s offer to include a car wash, valet services, tyre changing and an MOT centre.

Rovi Auto & Performance was established on Hamilton Street in 2015 with the help of a 15k loan from the Oldham Enterprise Trust, which works to help new and growing businesses in the borough.

BFS’ head of lending, Roger Seddon, said: “What Romas has created with Rovi Auto is a great example of the kind of ambitious, hard working and community minded businesses that are shaping and building our economy.

“Starting and growing a business from scratch is not for the faint hearted but Romas has both the passion and the expertise to make his garage a huge success.”

He added: “Working alongside Oldham Council and the Business Growth Hub, we have been able to introduce Romas to a wealth of funding, support and advice at what we hope is just the start of his growth journey.”

Romas commented: “Cars have been my passion for many years so being able to build a business that enables me to do what I love and that is bringing new jobs to Oldham is really exciting.

“Working with the Business Growth Hub, Oldham Enterprise Trust and BFS has made a huge difference to being able to work through my plans and then secure the funding I needed to take the garage to the next level.”

He continued: “Investing the Start Up Loan this year will really help to build our reputation as a restoration destination for classic car owners and to put us firmly on the map as a local business that is delivering great service and continuing to grow.”

Oldham Enterprise Trust relaunched earlier this year and now has designated capital provided by Stoller Charitable Trust and BFS Start Up Loans for new and growing businesses in the borough.

Trust chair Dave Benstead said: “Romas typifies the spirit of entrepreneurship that we find in many of our young people.

“Thanks to the generosity of the Stoller Trust, the expertise of Business Finance Solutions and the free business support available from the Business Growth Hub, we can offer young people in Oldham, with drive like Romas, an easy to access one-stop-shop to get both business funding and advice – and steer them to the best possible start to their business careers.”

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