Increased Funding from IGF Helps Support SME/Middle Market Businesses to Achieve Growth Ambitions

Wednesday 19th January 2022

£140m of asset-based new lending to British businesses during the last 12 months saw Independent Growth Finance (IGF) increase its client volume by 88% last year. Despite the many and varied problems that beset businesses throughout 2021, this funding take-up clearly demonstrates a certain degree of confidence and ambition among owners in the SME/middle market sector as they invest in order to grow their businesses. For more information on this subject please read the bulletin below which was issued by Insider Media today.

Roger Mundy, Managing Director, Beardsley Theobalds, 19th January 2022

 

IGF Increases British Business Support

Asset-based lender Independent Growth Finance (IGF) has increased its support to British businesses with £140m of new lending in 2021.

The firm grew client volume by 88 per cent during the period and now supports more than £2bn of annualised UK business revenue.

During what has been a turbulent period for many businesses, IGF has also increased its lending facilities and flexible funding.

This has supported more than 5,000 jobs through the provision of new facilities in 2021.

Commercial director Michael Fletcher said: "This year UK businesses have faced a number of macro-economic challenges, from supply chain issues to Covid-19.

"Despite this, the entrepreneurial and tenacious nature of business owners in the SME/middle market space has meant many have used the last 18 months to review operations and fast forward efficiency plans, ensuring they are poised for growth and future opportunities."

IGF ended the year on a high, providing record levels of new lending in the calendar month of December at £40.5m, and surpassing £400m of live facilities.

The company attributes its continued growth during 2021 to borrowers prioritising a 'partnership approach' with their lender, and one that is aligned with the growth aspirations of their business.

Fletcher added: "We are pleased that we have been able to step up our activities, underpinned by our commitment to delivering solution-led finance through our community of advisers and borrowers."