The senior finance facility has been provided by RBS, British Business Investments, HSBC and ABN AMRO Commercial Finance.
The funding will enable the asset-based lender to provide working capital finance to growing SMEs.
IGF reported that in the year to September 2018, it increased lending to UK SMEs by 70% and last month completed seven asset-based lending deals, a record month for the lender.
The senior finance facility follows additional recent investment from Spring Ventures, IGF’s private equity owner.
John Onslow, CEO at IGF (pictured above), said this was an exciting time for the lender and the senior lending facility would support its growth.
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“The funding enables IGF to continue financing the growth ambitions of UK SMEs.
“For many businesses, asset-based lending can be the key to unlocking rapid growth without losing control of their business.
“This latest funding further strengthens and sustains IGF’s proven market position as an independent and entrepreneurial asset-based lender.
“In the coming months and years, we will continue to welcome new talent into IGF to help drive our asset-based lending solution in the UK.”
Matt Cooper, chairman at IGF, said that the business was going from strength to strength.
“We are delighted to have continued support from third parties.
“This latest funding is a testament to the achievements of IGF to date and the positive future outlook for the business.”