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Commercial Credit News
|Independent Growth Finance reports £47.3m funds out in first year since MBI/MBO|
|Thursday, 13 April 2017|
IGF, the leading commercial finance provider for SMEs, has reported a 273% 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.
Key highlights of the year include:
61 new deals closed including ABL and Invoice Finance
A new regional office in Glasgow boasting 14 new clients across Scotland and funding totalling £10.2m;
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 NorthWest
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.”
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