IGF, a commercial finance provider for SMEs, has delivered a GBP100k invoice finance facility to Industro, a specialist engineering firm and labour provider based in the North East of England.
Industro sought a new finance partner to help fund its growth ambitions, with the aim of winning larger contracts and expanding their business. These new contracts will also give the business the capacity to employ more staff for on-site project work.
Established in July 2016, Industro specialises in design, fabrication, installation and structural inspection using drone technology on client sites, as well as providing specialist labour for the sector. IGF was introduced to the firm by specialist financial services company Open Invoice Finance, with the aim of sourcing the most successful funding package for the business.
Joanne Bell, Director at Industro, says: “We really appreciate the effort that IGF has made to understand our needs, and the whole process has been easy and user-friendly. The facility has also allowed us to offer our clients a more flexible, personal service and will also help us attract new clients and hire more staff.”
Danielle Hodgson, Regional Sales Director at Independent Growth Finance, adds: “Access to funding can be problematic for engineering firms, due to the nature of the industry’s billing process. However, Industro has a clear strategy for growth and we were really impressed with the company’s structure. We’re delighted to provide this new business with the support it needs to achieve its future aspirations.”
