Since opening its first Scottish base in June 2016, IGF has supported 26 SMEs and backed local MBO activity
Independent Growth Finance (IGF) has delivered a total of £16.6m to SMEs across Scotland over the past year since opening its first Scottish base in Glasgow.
That’s according to the firm, which also has offices in Manchester, Birmingham and London.
It says that, over the past 12 months, the business has financed 26 SMEs and allocated an additional £5m fund to support management buyout (MBO) activity across the country in November 2016.
The finance delivered ranges from a £50,000 invoice finance facility to a £4.25m-asset-based lending facility, funding assets including stock and property.
IGF claims the businesses which have benefitted from its support operate across a variety of sectors, including oil & gas, recruitment, facilities management, construction and engineering.
Alan Anderson, ABL (Asset Based Loan) Director for Scotland at IGF, 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 at IGF, 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.”