IGF (Independent Growth Finance) Review
IGF is an independent asset-based lender for UK businesses with over £5m annual turnover. It provides structured facilities of £2m to £25m, advancing up to 90% of trade debtor value and up to 85% of eligible stock, and it does not publish a rate card. If your business turns over less than £5m, IGF is not the right fit.
What this page covers
This page covers
Who IGF lends to, facility sizes, what it advances against, and when a business should look elsewhere
Not covered here
Invoice finance for businesses under £5m turnover (see /providers/), general invoice finance education (see /guides/), sector pages (see /industries/)
Key Facts
What IGF lends against
- Accounts receivable: a revolving facility of up to 90% of trade debtor value. IGF describes this as the core of every facility it provides.
- Inventory: up to 85% of eligible stock value, for businesses with seasonal swings or large stockholding.
- Plant and machinery: term lending of up to 75% of asset value.
- Property: up to 75% loan to value on commercial property.
- Cash flow loans: for businesses with strong financials, often alongside acquisitions and private equity deals.
Strengths and limitations
Strengths
- Combines receivables, stock, plant and property in one facility
- Funds event-driven situations: acquisitions, buyouts, exits and turnarounds
- Senior decision-makers involved from the first review, by IGF's own account
- Independent and privately owned
Limitations
- Only for businesses with over £5m turnover
- Minimum facility of around £2m
- No published pricing; every facility is structured individually
- Not a simple invoice factoring or credit-control service
When IGF fits
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Businesses over £5m turnover needing £2m or more
Where the funding need is larger than a debtor book alone supports, lending against stock, plant and property as well can raise more than invoice finance on its own.
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Acquisitions, buyouts and refinancing
IGF lists management buyouts, acquisitions, exits and refinancing among the situations it funds, often introduced by debt advisers and private equity sponsors.
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Turnarounds with real assets
Asset-based lending looks at the value of the assets behind the facility, so it can work for businesses going through a turnaround where cash flow lending would not.
When to look elsewhere
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Turnover under £5m
IGF will not be the right lender. Compare invoice factoring and discounting providers with lower published minimums in our provider directory.
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You only need to fund invoices, with outsourced credit control
A factoring facility is a closer match than a structured asset-based loan. Our guide to factoring vs discounting explains the difference.
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You want published prices before you apply
IGF prices each facility individually. The UK Invoice Finance Rate Index shows which providers publish their terms.
Our Verdict
IGF is a specialist asset-based lender for established businesses over £5m turnover with a funding need of £2m or more, particularly around acquisitions, buyouts, refinancing and turnarounds. It is not a small-business factoring provider: if your turnover is below £5m, compare other providers instead.
Official site: IGF
Sources
- IGF: advance up to 90% of receivables, facilities £2m to £25m, over £600m under management (March 2025)
- IGF: UK businesses with over £5m annual turnover
- Companies House record (10077673)
Figures without a link above, including starting service charges, are Market Invoice research estimates: most providers do not publish a rate card and price each facility individually. Checked September 2026.
Founder & Managing Director, Muswell Rose, founder and PSC of Best Business Loans Ltd
Adam is the founder and managing director of Muswell Rose and a founder of Best Business Loans Ltd, the company behind Market Invoice. He spent over three years as managing director of Penny, a UK invoice finance business, and his career runs through insurance, mortgages, commercial finance and fintech lending. He writes the Market Invoice library.
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