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Get my 3 quotes →Market Invoice compares the UK providers that fit this need, and you can get 3 free quotes through eCapital, our introduction partner. IGF Invoice Finance is one of the longest-standing UK engineering and metals invoice finance specialists, working with businesses over £5m turnover through asset-based lending, with underwriting familiar with long manufacturing cycles, milestone billing, and tier-2 automotive / aerospace supply chain mechanics. For established UK engineering businesses over £5m turnover that need sector-specific attention on concentrated customer exposure, or funding against inventory as well as debtors, IGF is one of the strongest options on the panel.
IGF Invoice Finance is a UK engineering and metals specialist working with businesses over £5m turnover, long-cycle manufacturing underwriting (work-in-progress as separate sub-line), and tier-2 automotive / aerospace supply chain experience. Best for established engineering businesses over £5m turnover with concentrated tier-1 customer exposure. More detail + scope
This page covers
IGF engineering / metals underwriting, £5m+ turnover positioning, work-in-progress structuring, tier-2 supply chain support, typical pricing
Not covered here
Provider review across all sectors (see /providers/igf/), engineering finance via other providers, asset finance for engineering equipment specifically
Who IGF Is For: £5m+ Turnover
UK invoice finance providers set different minimum turnover floors: Skipton £100k, Close Brothers and Aldermore £750k, HSBC £1m, and IGF over £5m. Smaller engineering subcontractors often start with one or two named tier-1 customers, modest annualised turnover, but real invoices and a real cash gap to fund; they need one of the lower-threshold providers. IGF is aimed at larger, established engineering businesses, where it can lend against inventory as well as receivables.
That matters in engineering supply chains, where a small CNC shop might run £30k to £50k turnover with two or three blue-chip tier-1 customers (large aerospace, defence or plant manufacturers). The trading volume is small but the receivable quality is excellent, so it is worth putting to a lower-threshold provider; it is well below IGF's £5m+ range.
Typical IGF Engineering Facility
| Element | IGF Engineering Pricing |
|---|---|
| Service charge | Not published (quoted per facility) |
| Discount charge | Not published (margin over base rate, quoted per facility) |
| Advance rate (receivables) | Up to 90% of trade debtor value |
| Advance rate (stock / plant) | Up to 85% of eligible stock; up to 75% of plant and machinery |
| Min turnover | Over £5m annual turnover |
| Setup time | Not published; structured asset-based facilities take longer than standard invoice finance |
| Confidential discounting | Available for files with established credit control |
When IGF Wins for Engineering
- Over £5m turnover with inventory to fund. IGF's asset-based lending advances up to 85% against inventory alongside up to 90% of trade debtors.
- Concentrated tier-1 customer exposure. IGF underwrites concentration on a customer-quality basis rather than applying blanket concentration caps.
- Long-cycle work with WIP element. Sector-specific WIP structuring is institutional, not learned per-file.
- Metals, automotive, aerospace tier-2 / tier-3. Long track record in these sub-sectors; underwriting culture matches the customer-quality profile.
When to Look Elsewhere
- Pricing is critical and turnover is £750k or more. Get a Close Brothers quote to compare; it prices each agreement individually.
- Speed of setup matters. A structured asset-based facility takes longer to put in place than a straightforward invoice finance facility from Ultimate Finance (within one week) or Bibby (around 5 working days).
- Higher advance rate needed. Ultimate Finance publishes advances up to 95%; IGF publishes up to 90% on receivables.
- Banking-relationship preference. Close Brothers or Bibby for files where regional team continuity and bank-tier brand recognition matter.
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IGF Engineering FAQ
Why IGF for engineering?
IGF Invoice Finance has a long-standing UK engineering and metals book, with underwriters familiar with long manufacturing cycles, milestone billing, work-in-progress treatment, and the tier-1 / tier-2 supply chain mechanics that define engineering invoice finance. IGF works with UK businesses with over £5m annual turnover and offers asset-based lending (receivables up to 90% of trade debtor value, inventory up to 85%), which suits established engineering firms carrying significant stock as well as debtors.
What engineering sub-sectors does IGF cover?
Precision engineering, CNC machining and milling, fabrication (steel, aluminium, composite), automotive supply chain (tier-2 suppliers to vehicle manufacturers), aerospace tier-2 and tier-3 supply chain, marine engineering, defence engineering subcontractors, energy engineering (renewables, oil and gas), and specialist heavy engineering. The underwriting question is the customer base and contract structure rather than the sub-sector.
How does IGF handle long manufacturing cycles?
Engineering invoices often represent the final stage of a 3 to 12 month production cycle. Asset-based lenders such as IGF can look at the wider balance sheet (receivables up to 90% of trade debtor value, eligible stock up to 85%, plant and machinery up to 75%); any work-in-progress treatment is agreed per facility, and IGF does not publish a WIP advance rate. Milestone billing under tier-1 contracts is handled directly with appropriate documentation review.
What is IGF's pricing for engineering?
IGF does not publish its pricing: service and discount charges are quoted per facility. What it does publish is advance levels: up to 90% of trade debtor value, up to 85% of eligible stock, and up to 75% on plant and machinery. Compare quotes on the same ledger to judge cost.
Who is IGF best for?
Established engineering businesses with annual turnover over £5m, particularly those that want to borrow against inventory as well as receivables. Smaller engineering firms below £5m turnover are outside IGF's range and should compare other providers. Established engineers in tier-2 automotive or aerospace supply chains with concentrated customer exposure also fit well.
How does IGF compare to Close Brothers on engineering?
Both have engineering-specific underwriting. Close Brothers carries FTSE 250 banking security and prices each agreement individually; IGF does not publish its pricing. IGF works only with businesses over £5m turnover but can lend against inventory up to 85% as well as receivables, with generally higher tolerance on concentrated customer files and a longer specialist track record in metals and heavy engineering.
Below £5m, Close Brothers is the option of the two; above it, Close Brothers usually wins on price, while IGF often wins where concentrated tier-1 customer exposure or inventory funding matters.