Independent Growth Finance (IGF) has entered the new decade in style with seven new clients signed in December and £126m funds in use. Despite a turbulent year for SMEs across the UK, IGF’s funds in use have continued to grow at pace.
Of the seven new asset-based lending (ABL) clients signed in December, three are based in the Midlands, with combined funds in use of £6m.
John Onslow, CEO of IGF, commented: “We closed 2019 with a fantastic month of new business across the UK. This has set us up very well for a strong end to our financial year. Of all the records broken during this period perhaps the most rewarding was the sheer amount of cash collected. It really illustrates how liquid the assets are that we fund and the volume of cash locked away.”
“We understand there is a determination by SMEs to invest and focus on their futures. By providing more than £1bn of new funding over the course of 2019 we are playing our part in ensuring UK SMEs have access to the right financial support.”
The strong start to the year is further bolstered by the appointment of new commercial director, Matthew Shepherd. He joins from the ABL division at CYBG, previously Clydesdale and Yorkshire Bank, to spearhead national growth.