IGF celebrates a decade since acquisition
Independent Growth Finance (IGF), a leading independent provider of tailored asset-based lending (ABL) solutions for UK SMEs and mid-market businesses, is celebrating a decade since being acquired by Spring Ventures and a management team led by John Onslow in April 2016.
The milestone was celebrated at the company’s annual summer party last week, bringing together employees, board members, shareholders, and key stakeholders to recognise the people who have driven IGF’s success and to look ahead to the company’s future ambitions.
Over the past decade, IGF has achieved remarkable success. Since April 2016, the company has evolved from a niche factoring company with a £17m loan book into a leading independent comprehensive asset-based lender offering a full range of funding solutions with a peak loan book in excess of £300m. This has been achieved by on-boarding approximately 350 new clients from all regions of the country.
Steven Chait, CEO of IGF, said: “Reaching our tenth anniversary is a proud milestone for everyone at IGF. Over the past decade, we’ve had the privilege of supporting hundreds of ambitious businesses and servicing more than £20bn of client turnover to help them grow, invest and navigate change.
“These achievements are only possible because of the trust placed in us by our clients, introducers, shareholders, and colleagues. We are incredibly grateful to everyone who has been part of our journey. While we are proud of what we’ve achieved over the last ten years, we remain focused on the future. The needs of UK businesses continue to evolve, and we are committed to providing the flexible funding solutions and partnership approach that will help our clients succeed in the years ahead.”
John Hudson, managing partner at Spring Ventures, added: “Over the past ten years we have been immensely proud to see IGF mature from a small invoice finance business, with a £17m loan book, to become the leading independent Asset Based Lender, offering a full scope and range of funding solutions. Over this time IGF has supported hundreds of clients with flexible funding solutions, helping them to achieve their business growth ambitions. This has been possible through the dedication and commitment of our people, both past and present. Also, by adhering to our values centred on delivering funding certainty and building enduring partnerships with our clients and the professional advisory community. As we mark this important milestone, we look back with pride on what has been accomplished whilst looking forward with great confidence and excitement about the future.”
As IGF steps into its next decade, the business remains committed to maintaining its relationship driven approach to lending, ensuring clients have the financial certainty and flexibility they need to thrive in a changing economic landscape. IGF’s continued growth reflects its ongoing commitment to provide alternative finance to UK SMEs and mid-market firms and reinforces its position in the marketplace as one of the UK’s leading independent asset-based lenders.