IGF (Independent Growth Finance) vs Novuna Business Finance: UK Invoice Finance Comparison 2026
See how IGF (Independent Growth Finance) compares to Novuna Business Finance side by side, then get three tailored quotes to weigh alongside them. Free, no obligation, and nothing to pay if you decide not to proceed.
Start here: what fits your business?
Both operate in UK independent invoice finance, outside the high street banks. They differ on sector focus, headline pricing and the minimum turnover they will consider. IGF (Independent Growth Finance) advances up to 90% receivables + stock + plant, setup typically in 10 working days; Novuna Business Finance advances up to 90%, setup typically in 1 to 3 working days to funds. IGF (Independent Growth Finance) needs £5m minimum turnover, Novuna Business Finance does not publish a minimum turnover figure. Read the side-by-side below, then jump to the "when X wins" sections.
Side-by-side
Full reviews: IGF (Independent Growth Finance) · Novuna Business Finance
| Compared on | IGF (Independent Growth Finance) | Novuna Business Finance |
|---|---|---|
| Product type | Invoice finance (ABL, CID), asset-based lending | Invoice finance, asset finance, vehicle finance |
| Min turnover | £5m | Not published |
| Advance rate | Up to 90% receivables + stock + plant | Up to 90% |
| Typical fee | Bespoke pricing | Not published (quoted per facility) |
| Confidential available? | Yes | Yes |
| Factoring available? | Yes | Yes |
| Setup speed | 10 working days | 1 to 3 working days to funds |
Sources for these figures: 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 · Novuna Business Finance: advance rate · Novuna Business Finance: setup time · Novuna Business Cash Flow · Novuna invoice finance · Companies House 01630491, Mitsubishi HC Capital UK PLC · Mitsubishi HC Capital UK, Novuna rebrand announcement
When IGF (Independent Growth Finance) wins
- ABL specialist: receivables + stock + plant under one facility.
- Facilities of £2m to £25m, where monoline IF lenders cap out.
- Flexible covenant negotiation.
- Established mid-market ABL reputation.
Best for
Businesses over £5m turnover needing £2m or more, Complex ABL needs (receivables + stock), Turnaround and restructure cases.
Watch outs
- Pricing bespoke, not transparent in marketing.
- Setup 10 days, slower than monoline IF.
- Facilities start around £2m, so smaller SMEs are out of scope.
When Novuna Business Finance wins
- Backed by the Mitsubishi HC Capital UK balance sheet.
- Multi-product cross-sell (IF + asset + vehicle).
- Mid-market panel relationships strong.
- Long-established UK presence as the former Hitachi Capital UK (rebranded Novuna, February 2022).
Best for
Mid-market Ltd companies, Cross-product (IF + asset) facility seekers, Stable mid-market funders.
Watch outs
- No published service charge, minimum turnover or rate card, so it cannot be benchmarked without a quote.
- Slower decisioning than fintech.
- Three brand names in play (Novuna, Novuna Business Finance, Novuna Business Cash Flow).
FAQ
IGF (Independent Growth Finance) or Novuna Business Finance: which is the better fit for UK invoice finance in 2026?
IGF (Independent Growth Finance) is the stronger fit for businesses over £5m turnover needing £2m or more; Novuna Business Finance fits mid-market Ltd companies better. The "when X wins" sections above break this down by profile, and the commercials are covered in the next question.
How do IGF (Independent Growth Finance) and Novuna Business Finance price their facilities?
Neither publishes its pricing; both quote per facility. The table above sets advance rate, setup speed and minimum turnover side by side.
Can I get a confidential facility with either IGF (Independent Growth Finance) or Novuna Business Finance?
Both IGF (Independent Growth Finance) and Novuna Business Finance offer confidential invoice discounting (your customers are not notified).
Where does each one struggle?
IGF (Independent Growth Finance) is the wrong fit for businesses under £5m turnover. Novuna Business Finance is the wrong fit for lowest-cost seekers. If either describes your business, browse the side-by-side or get 3 free quotes through our quote form.
Can Market Invoice help me choose between IGF (Independent Growth Finance) and Novuna Business Finance?
Yes. marketinvoice.co.uk is an independent comparison and introducer service operated by Best Business Loans Ltd (company 16833937), and is not tied to either provider. Share your turnover, sector and debtor profile and eCapital, our introduction partner, handles your enquiry and comes back to you with quotes, with no obligation to proceed.
Related
- Full IGF (Independent Growth Finance) review
- Full Novuna Business Finance review
- Close Brothers Invoice Finance vs Ultimate Finance
- Aldermore Invoice Finance vs Close Brothers Invoice Finance
- Allianz Trade vs Close Brothers Invoice Finance
- All UK invoice finance comparisons
- Browse every reviewed UK invoice finance provider
- UK invoice finance by region
Sources
- Rates, advance percentages and product details checked against IGF (Independent Growth Finance)'s own site.
- Rates, advance percentages and product details checked against Novuna Business Finance's own site.
- 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
- Novuna Business Finance: advance rate
- Novuna Business Finance: setup time
- Novuna Business Cash Flow
- Novuna invoice finance
- Companies House 01630491, Mitsubishi HC Capital UK PLC
- Mitsubishi HC Capital UK, Novuna rebrand announcement
Get 3 free quotes
Tell us monthly turnover, sector, debtor profile and whether the facility needs to be confidential. eCapital, our introduction partner, handles your enquiry and comes back to you with quotes. Free, and no obligation to proceed.
Get my 3 quotes →Best Business Loans Ltd (16833937), directed by Oliver Mackman, owns and operates Market Invoice. Last updated: .
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Disclosure: marketinvoice.co.uk is an independent invoice finance comparison and introducer service operated by Best Business Loans Ltd (company number 16833937). It is a separate business and is not connected to Kriya, Allica Bank or to any provider named on this page. Our introduction partner pays us a fixed fee for each business we introduce, whether or not a facility follows; this is never added to your costs. Invoice finance for limited companies is not a regulated activity, so this comparison is general information rather than regulated financial advice. Figures are indicative; larger facilities are commonly priced bespoke, so confirm terms directly with the provider before you sign.