IGF is an acronym for Independent Growth Finance, which should give you an idea of the business model of this lender – IGF provides invoice financing against outstanding payments, asset-based lending, and even commercial finance for businesses looking to expand.
Be mindful that that company typically targets mid-tier businesses and above though; you’ll need a fairly substantial turnover to qualify for invoice funding, and sufficient existing inventory and financial needs to merit asset-based lending and property finance. If you meet the minimum criteria set by IGF, this lender offers a range of products that may be of interest.
IGF Commercial Finance business loans and finance
- Pros and cons
- Invoice finance
- Asset finance
- Commercial mortgages
- Business loans
- Merchant cash advance
- Business credit cards
- Business vehicle finance
- IGF key information
- IGF reviews
- Business eligibility criteria
- Business finance alternatives
- Additional considerations
Pros and cons of IGF for business finance
|✓ Rapid access to funds tied up in unpaid invoices||✗ Minimum annual turnover of £3,000,000 required for invoice finance|
|✓ Asset-based lending available to businesses that can afford it||✗ No online reviews, making it hard to assess the experience of business peers|
|✓ Fast release of property funds for eligible borrowers||✗ Invoice finance is only available on an invoice discounting basis|
IGF Commercial Finance is predominantly known for invoice financing, which is offered on an invoice discounting basis. Upload all open invoices to a portal provided by IGF and up to 90% of the value will be transferred to your business within 24 hours. The invoice will be settled with IGF, who will take a fee for their service and release the remaining funds to you.
If you have inventory in your business that can be used as collateral for asset-based lending, IGF will loan up to 85% of the value of these assets to assist with business growth. This loan will be repaid on a revolving basis, depending on your existing stock levels. Alternatively, you can apply for a loan secured against machinery to the value of up to 75%, repayable for up to four years.
Borrow up 85% of the value of your total inventory stock. This lending will revolve and evolve depending on how much stock you have at any given time.
Plant and machinery finance
Release funding of up to 75% secured against existing assets in your business, repayable for up to four years.
Secure a loan against a commercial property that you own, redirecting the funds into other aspects of your business. Loan to value is capped at 75% of the equity in your asset.
IGF permit property loans and commercial mortgages with a loan-to-value ratio of 75%. These loans are strictly available on an amortised basis, with no option for interest-only repayments, but some measure of flexibility is offered on the repayment terms.
IGF may be willing to provide a business with a cash flow loan based on projected income. IGF does not discuss this in detail on its website, so you’ll need to get in touch with the company to learn if you are eligible for this lending stream.
Merchant cash advance
✗ Not available from IGF Independent Growth Finance. See best merchant cash advance.
Business credit cards
✗ Not available from IGF Independent Growth Finance. See best business credit cards.
Business vehicle finance
✗ Not available from IGF Independent Growth Finance. See business vehicle finance.
IGF Independent Growth Finance key information
|Phone number||0800 051 8397|
|Number of branches||4 offices in the UK|
IGF Independent Growth Finance reviews
|Review platform||Score||Number of votes|
|Smart Money People||Not reviewed||N/A|
|Average score||No online reviews||No votes|
Business eligibility criteria
To qualify for funding with IGF, you’ll need a minimum annual turnover of £3,000,000, with a maximum turnover of £200,000,000. If your business is yet to reach these heights, there are plenty of alternative lenders on the market.
Business finance alternatives
As IGF Independent Growth Finance has such a high minimum turnover, you may wish to consider a different lender for your invoice financing needs or asset-based lending. Here is a handful of alternatives to consider.
- Bibby Financial Services
- Close Brothers
- Creative Capital
- eCapital Factoring
- Novuna Commercial Finance
- Pulse Cashflow Finance
- Skipton Business Finance
- Team Factors
- Time Finance Plc
IGF is steadily growing in size, breaking profit records in 2021 and building upon this income in 2022.
IGF typically approves and releases funds related to invoice financing within 24 hours. Property finance is also considered faster through this lender than many rivals.
Lending on an invoice finance basis is capped at 90% of the value of an outstanding invoice. Asset-based lending and property finance peak at £500,000,000.
You can call IGF on 0800 051 8397 to start your application, or leave your contact details on an online form and request a callback.
No, when you are provided with a quote you will know exactly how much you will be asked to repay with no nasty surprises down the line. Interest rates on property and asset-based lending will vary depending on the type of arrangement you take out.
As IGF receive its funds when a customer invoice is settled, this is the de facto deadline for repayment on invoice based finance. Asset-based lending could be repaid over four years or a longer period based on your income, depending on what kind of lending you take out.
Asset-based lending from IGF must be secured against existing inventory in your business. Borrowing on an invoice finance basis is an unsecured loan.