Independent Growth Finance (IGF), the SME commercial finance provider, has delivered a total of £16.6m to SMEs across Scotland over the past year.
Since the opening of its Glasgow office in June 2016, IGF has grown from strength to strength in the region. Over the past 12 months, the business has financed 26 SMEs and last November allocated an additional £5m fund to support management buyout (MBO) activity across the country.
The finance delivered ranges from a £50,000 invoice finance facility to a £4.25 million asset based lending facility, funding assets including stock and property. The businesses that have benefitted from IGF’s support operate across a variety of sectors, including oil & gas, recruitment, facilities management, construction and engineering.
Alan Anderson, ABL Director for Scotland, Independent Growth Finance, said:
“Opening the Glasgow office was a big step for IGF, and providing SMEs with over £16 million of funding shows our commitment to the region. Our tailored financing solutions and close client relationships mean that we stand out from the mainstream lenders in Scotland. We’re extremely proud to support our clients in meeting their ambitious growth plans.”
Stephanie Kinney, Regional Sales Director, Independent Growth Finance, said:
“It has been a fantastic first year for the IGF team in Scotland, with 26 new clients and growing. As we move into year two, we will continue to deliver the valuable financial support that our clients need and look to increase our financing of Scottish SMEs even further.”