Office refurbishment business secures £2m from SME lender

Office refurbishment business secures £2m from SME lender

SME lender Independent Growth Finance (IGF) has provided a £2m asset-based funding line for an office refurbishment company.

Founded in 2004, Insite Contracts Ltd specialises in refurbishments, fit outs and property maintenance, employing over 70 people and achieving revenues of £12m in 2015.

The agreement – which was brokered by IGF’s Glasgow office – will allow Insite to recruit new staff in order to meet growing demand for its services.

Alan Anderson, asset-based lending director for Scotland at IGF, said: “Insite is an excellent business to be involved with.

“The company’s success speaks for itself, as does the emphasis which its management team places on the organisation’s growth and development.

“This progressive attitude reflects the ethos promoted here at IGF, and for that reason we are excited to take this partnership into the future.”

As part of its growth, Insite recently formed subsidiary Insite Cladding and Roofing Ltd.

The company boasts a client portfolio spanning across the retail, healthcare and industrial property sectors.

Scott McMillan, managing director at Insite Contracts Ltd, added: “We are thrilled to have secured funding from a partner which clearly understands our business.

“By establishing a straightforward, efficient funding model, IGF has allowed us to focus on continuing our growth, and to deliver in the timescales set out at the beginning of the process.”

This latest deal follows a pledge from IGF to invest £5m in Scottish SMEs.

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