IGF delivers a record year for new business

Independent Growth Finance (IGF) posted another strong year of growth as it continues to provide funding to mid-sized businesses across the UK. The company’s continued year-on-year growth resulted in a further £155m of new corporate lending for 2024.

70% of new lending was provided to businesses located outside of London and the SE, with more than half of new lending supporting acquisition, management buyouts and growth transactions.

IGF also saw a 11% growth in total client facilities to more than £560m over the period. This increased growth means that the Company now supports close to £4 billion of annualised UK business revenue. The outcome of such growth resulted in IGF reporting record numbers for turnover and profitability.

“The fast and flexible funding IGF delivers to these businesses is a key component of their plans for growth. Whether they’re looking to buy new equipment, develop new products, expand into new markets, or prepare their business for net zero, they know that IGF is a funding provider that understands their unique context and specific needs, and can quickly provide the certainty of finance to help them succeed with their financial requirements.”

Steven Chait continued, “The businesses we work with view IGF as a ‘partner’ lender, which alongside our solutions-led approach and ability to deliver, continues to help drive client growth. With the General Election now behind us and with ‘growth’ high on the new Government’s agenda, 2024 has the potential to be the year where instability and uncertainty for UK business is put aside. As the economic landscape evolves, IGF stands ready to support the diverse needs of the UK’s mid-sized businesses with fast, flexible funding solutions that contribute to their financial success.” 

As an independent (non-bank owned) lender, IGF works alongside a trusted network of national intermediaries, including business sponsors and private equity investors, corporate finance and debt advisors, commercial finance professionals and accountants.

Mike Fletcher, IGF’s Commercial Director added: “Our origination performance this year reflects IGF’s established market position as the lender that consistently delivers and with the appetite and toolkit to fund business needs that span the credit curve. This of course is only achievable from the strong relationships held with our national network of valued clients, advisors and investors, as well as the ongoing support of our own shareholders Spring Ventures.

“As we look towards the future, our continued growth through the cycle has meant we have strengthened our teams around the country, something we anticipate continuing based on the levels of activity and opportunities being seen in the first quarter of 2024/25”.

John Hudson, Spring Ventures commented: “Having supported IGF since 2016, we continue to see increasing levels of demand, with businesses seeking a lender that can support their funding needs with flexible facilities that grow as they do. We have overseen significant growth in lending by IGF during this time and we remain committed to supporting IGF’s strong growth ambitions for the future”.