IGF’s lending facilities exceed half a billion pounds

Published by

Sam Pither

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Independent Growth Fund (IGF) the asset-based lender which houses its operations in Redhill, has surpassed half a billion pounds in ‘live’ lending facilities, having seen large levels of growth for the seven months ended October 2022.

Having experienced a record year in the 2021/22 financial year, which saw £130 million of new lending provided, IGF has continued that momentum as it delivered another £91 million in new lending in the first seven months of this financial year.

In total, IGF now supports in excess of £3.2 billion of annualised business revenue.

Michael Fletcher, Commercial Director at IGF, commented: “Over the past two years we’ve achieved record levels of growth across all key metrics of; Client volume, Funds in Use and Income. These milestones have been achieved through our relationship-led approach to lending, and by gaining a deep understanding of our client’s needs, allowing IGF to provide tailored funding solutions to support current needs and future growth aspirations.

Michael Fletcher, Commercial Director at IGF.

“In recent months, as macro-economic challenges persist, IGF has seen enquires from new borrowers increase. Tightening credit policies from mainstream lenders is one factor, but borrowers are also seeking a lender that is aligned with their growth strategies and one that can react when opportunities arise.”

“As a private equity-backed financier, we’re fortunate to have the continued support of Spring Ventures. Their investment in our growth has allowed us to step up our activities in support of borrowers and advisers, and having strengthened our presence in key regions across the UK, we are well positioned to continue our own growth trajectory.

“IGF’s suite of Asset Based Lending (ABL) facilities (receivables, property, plant and machinery, inventory and cashflow lending) are used to unlock funds from business assets, supporting growth and investment, alongside the flexibility businesses require in times of unprecedented change.”

Featured image credit: iStock

Sam Pither

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset. A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise. Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.