Independent Growth Finance (IGF), the UK-based lender, has provided a total of £100 million in funding to SME clients throughout the UK.
The finance milestone was reached after the business achieved 39% growth in funding in its most recent full financial year, while there has been a five-fold increase since 2016.
John Onslow, chief executive officer of IGF, said: “Reaching the £100 million funding milestone is an indication that, despite economic uncertainties, business leaders remain bullish about the future.
“The past few years have seen us build strong relationships with key business introducers and invest in our people and infrastructure. These milestones are a direct result of the team’s hard work and commitment.”
Formed in 1997, IGF is an independent invoice finance and asset-based lender that works with a variety of UK businesses.
John Allbrook, who was appointed as non-executive chairman of IGF in June, added: “Earlier this year we released the first Powering Freedom Report, which found that one in four businesses expect double digit growth in 2019. I’m delighted that IGF itself is part of that growth story. We look forward to continuing to provide an outstanding service to our clients and introducers in what looks set to be another successful year.”
During his career, Allbrook has a range of boardroom roles, including at GE Capital, GoIndustry, and as executive chairman of Syscap, where he guided business growth, enabling its successful sale to Wesleyan Bank.
He has also been appointed to several other non-executive chairman and leadership roles, including with Borro Private Finance and Critical Eye, the peer-to-peer community for senior executives.
Onslow added: “Our leadership team will benefit greatly from having access to John’s expertise.”
