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Independent Growth Finance provides GBP53m in funds to SMEs in H1 2017

IGF, the leading commercial finance provider for SMEs, has reported a 180 per cent increase in funds out year-on-year in the first half of 2017, with a total of GBP53 million invested in businesses across the UK.

The sales volume within IGF’s clients was 87 per cent higher in H1 2017 than in the same period last year, and the average funds in use per client has increased by 120 per cent.
 
The increases come from sales growth and acquisition of new clients.  A total of 49 new businesses were funded with invoice finance and asset based lending over this period across several regions and sectors, including:12 businesses funded in the South East totalling GBP8.95m, with a further GBP2.18m funded in London; seven businesses funded across the maintenance industry, with funding lines totalling GBP6.4 million; and GBP5.8 million in financing secured for businesses in Scotland.
 
In addition, IGF has completed six funding lines for businesses across The Midlands, totalling GBP5.9 million, delivered GBP5.95 million to businesses across the North West and Yorkshire, GBP2.9 million or businesses in the FMCG sector and with three businesses financed in Wales and the South West, to the tune of GBP2.15 million.
 
This period has seen the IGF team grow too, with several new hires in the Tonbridge head office and operations centre as well as three more added to the national sales force. The business has plans to strengthen the team further over coming months.
 
Mark Lindsay, Managing Director Independent Growth Finance, says: “The start of the 2017 financial year has undoubtedly been a success for IGF, and is a pattern we want to continue as we move into the second half of the year. The growth has come across the whole business with our ABL capabilities contributing significantly to these results. 
 
“Approaching 2018, we are keen to continue hitting our ambitious targets to provide larger facilities to more clients. We will continue to hire top quality people to help us build a strong business.” 

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