IGF to invest a further £5m in SMEs

IGF to invest a further £5m in SMEs




IGF has added a further £5m to its lending fund for Scottish SMEs to support management buyout activity.

IGF, which opened its Scottish branch back in July, specialises in asset-based loans to SMEs.

So far, the lender has provided facilities to 10 clients, including a £100,000 invoice finance facility and a £2m asset-based lending facility.

Alan Anderson, director of Scotland at IGF, said: “The opportunity for business expansion in Scotland is exceptional and the appetite for strategic growth among Scotland’s entrepreneurs is at the highest we’ve seen in recent years.

“In response to this, we have launched a £5m fund specifically to assist SMEs seeking a management buyout, be it for the funding of the deal itself, or to support cash flow under new ownership.

“There are small businesses all across Scotland looking for finance, many of which have untapped wealth in the assets of their companies.

“This fund, as well as our other ABL funding options, can provide businesses with a financing solution that mainstream lenders cannot offer.”

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