Independent Growth Finance reports £47.3m funds out in first year since MBI/MBO

IGF, the commercial finance provider for SMEs which last year opened an office in Glasgow’s West George Street, has reported a 273 per cent increase in funds out since its management buy in/buy out in March 2016, with a total of £47.3m delivered to businesses across the UK.

The business now boasts a nationwide presence following the opening of five new regional bases and 22 new hires.

The new regional office in Glasgow has already taken on 17 new clients across Scotland with funding totalling £10.2m.

Other key highlights of the year include:

- 64 new deals closed including ABL and Invoice Finance

- New offices in Manchester, Birmingham and London with additional regional bases in Thames Valley and Yorkshire

- £9m financing secured for businesses in Yorkshire

- £3.8m financing secured for businesses in Greater Manchester and the North West

- 22 deals closed in the South East, totalling £14.2m, 14 of which were outside the Capital

- Eight funding lines completed for businesses in East of England totalling £5.55m

- Four businesses financed in Wales and the South West, totalling £5.1m

- £3.3m funding delivered to seven businesses across the Midlands

John Onslow, CEO, Independent Growth Finance, said: “It has been a fantastic year for the IGF team who have worked hard to deliver the financial support that our clients want. These results demonstrate the growing appetite for alternative finance amongst the UK’s SMEs, and IGF will continue to be there to support these businesses and ambitious entrepreneurs.”