Independent Growth Finance (IGF) has reported a record-breaking year for new business, showcasing its continued commitment to supporting mid-sized businesses across the UK. The Surrey-based company has achieved significant growth, with a further £155 million in new corporate lending for 2024. This impressive performance highlights IGF’s role in providing essential funding to businesses, particularly those outside of London and the South East. Despite economic challenges, IGF’s flexible and fast funding solutions have enabled businesses to pursue growth opportunities and navigate the current financial landscape.
Record-Breaking Growth and Achievements
IGF’s continued year-on-year growth has resulted in a remarkable £155 million in new corporate lending for 2024. This achievement underscores the company’s ability to meet the diverse financial needs of mid-sized businesses. Notably, 70% of this new lending was directed towards businesses located outside of London and the South East, demonstrating IGF’s commitment to supporting regional economic development. More than half of the new lending facilitated acquisitions, management buyouts, and growth transactions, highlighting IGF’s role in enabling strategic business expansions.
The company’s total client facilities grew by 11%, reaching over £560 million. This increased capacity means that IGF now supports close to £4 billion of annualized UK business revenue. The record numbers for turnover and profitability reflect IGF’s strong market position and its ability to deliver tailored financial solutions that drive business success. CEO Steven Chait emphasized the importance of IGF’s fast and flexible funding in helping businesses achieve their growth objectives, even amid challenging economic conditions.
IGF’s success is also attributed to its strong relationships with a network of national intermediaries, including business sponsors, private equity investors, corporate finance and debt advisors, commercial finance professionals, and accountants. These partnerships have been instrumental in IGF’s ability to deliver consistent and reliable funding solutions to its clients.
Strategic Focus and Market Position
IGF’s strategic focus on providing tailored financial solutions has been a key driver of its success. The company’s ability to understand the unique context and specific needs of its clients has enabled it to offer funding that supports a wide range of business activities. Whether businesses are looking to buy new equipment, develop new products, expand into new markets, or prepare for net zero, IGF’s funding solutions are designed to meet these diverse requirements.
Commercial Director Mike Fletcher highlighted IGF’s established market position as a lender that consistently delivers and has the appetite and toolkit to fund business needs across the credit curve. This reputation has been built on strong relationships with clients, advisors, and investors, as well as the ongoing support of IGF’s shareholders, Spring Ventures. The company’s ability to adapt to changing market conditions and maintain a strong origination performance has been crucial in sustaining its growth trajectory.
Looking ahead, IGF anticipates continued growth based on the levels of activity and opportunities seen in the first quarter of 2024/25. The company’s commitment to strengthening its teams around the country and enhancing its service delivery will be key to capitalizing on these opportunities and supporting the financial success of its clients.
Navigating Economic Challenges
Despite the ongoing challenges of high interest rates and the cost-of-living crisis, IGF has demonstrated resilience and adaptability in its operations. The company’s ability to provide fast and flexible funding has been a critical factor in helping businesses navigate these economic uncertainties. By offering certainty of finance, IGF has enabled businesses to pursue growth opportunities and invest in their future success.
CEO Steven Chait emphasized that the UK’s mid-sized businesses continue to seek out growth opportunities across all sectors. IGF’s funding solutions have been a key component of these businesses’ plans for growth, providing the financial support needed to achieve their objectives. The company’s focus on understanding the unique needs of its clients and delivering tailored solutions has been instrumental in its ability to support business growth.
As the economic landscape evolves, IGF remains committed to supporting the diverse needs of the UK’s mid-sized businesses with fast, flexible funding solutions. The company’s ability to adapt to changing market conditions and maintain strong relationships with its clients and partners will be crucial in navigating future challenges and sustaining its growth.
In conclusion, Independent Growth Finance (IGF) has delivered a record year for new business, demonstrating its commitment to supporting mid-sized businesses across the UK. With significant growth in new corporate lending, total client facilities, and annualized business revenue, IGF has established itself as a key player in the financial services sector. By providing fast and flexible funding solutions, IGF continues to enable businesses to pursue growth opportunities and navigate economic challenges.
