IGF Group (formerly IGF Invoice Finance, trading as Independent Growth Finance Limited) is a privately owned UK specialty finance company providing asset-based lending facilities between £2 million and £25 million. Established in 2016 following a management buyout from Greater London Enterprise, IGF now manages over £600 million in aggregate facility limits across 130+ active clients with combined turnover exceeding £3.9 billion. Backed by British Business Investments Ltd, IGF operates from offices in London, Birmingham, Manchester, and its operational centre in Redhill, Surrey. This is our independent review for 2026.
- Minimum £2M annual turnover - High entry requirements target mid-market businesses, excluding smaller SME operations
- Best for asset-rich manufacturing businesses - Combines invoice finance with asset-based lending for capital-intensive industries
- Advance rates reach 85% - Competitive funding levels though slightly below Bibby’s maximum 90% offering
- Fees start from 1.5% monthly - Premium pricing reflects specialised service but costs more than mainstream providers
- Family-owned since 1979 - Independent ownership provides stability but lacks backing of larger financial institutions
IGF Group Review: Key Facts
IGF Group is a mid-market asset-based lender offering facilities of £2 million to £25 million. It is not an SME invoice finance provider – its minimum facility size puts it above most comparison-site providers like Bibby, Kriya, or Novuna. IGF lends against receivables (up to 90%), inventory (up to 85%), plant and machinery (up to 75%), and property (up to 75% LTV). There are no Trustpilot reviews. IGF is registered as Independent Growth Finance Limited (Company No. 10077673) and is a member of UK Finance.
| Factor | Detail |
|---|---|
| Full name | Independent Growth Finance Limited (trades as IGF Group) |
| Company number | 10077673 (incorporated 22 March 2016) |
| Registered office | Kingsgate, High Street, Redhill, RH1 1SG |
| Facility range | £2 million – £25 million |
| Aggregate facilities | £600m+ across 130+ clients |
| Client turnover | £3.9bn+ combined |
| Backed by | British Business Investments Ltd |
| Memberships | UK Finance, ICAEW, BVCA, IFT |
| Trustpilot | No reviews (unclaimed profile) |
IGF Products
IGF provides multi-asset ABL facilities combining several asset classes into a single funding line. Unlike traditional invoice finance where you borrow against receivables only, IGF structures facilities across receivables, inventory, plant and machinery, property, and cash flow loans – with senior decision-makers involved from day one. This positions IGF for complex situations: acquisitions, management buyouts, turnarounds, and growth funding where invoice finance alone would be insufficient.
Accounts receivable finance advances up to 90% of eligible trade debtor balances – the core of most IGF facilities. This works like traditional invoice discounting: you continue to manage your own credit control and collections while IGF funds against your outstanding invoices. The key difference from SME providers is scale – IGF’s minimum facility of £2 million means this is designed for businesses with substantial receivables ledgers.
Inventory finance advances up to 85% of eligible stock value, layered on top of receivables funding. This is particularly valuable for manufacturers, distributors, and wholesalers who hold significant raw material or finished goods inventory. Few SME invoice finance providers offer inventory lending – it requires specialist valuation and monitoring capability.
Plant and machinery finance advances up to 75% of asset value against owned equipment. This component is typically added to ABL facilities for manufacturing and industrial businesses where plant represents a substantial portion of the balance sheet. Valuations are conducted by independent specialist valuers.
Property finance is available at up to 75% loan-to-value against commercial property owned by the business. Adding property to an ABL facility increases the total borrowing capacity without requiring a separate commercial mortgage – the property element is managed within the overall IGF relationship.
Cash flow loans are available for strong-performing businesses, often to support acquisition finance or management buyouts. These are unsecured or lightly secured term loans layered on top of the asset-backed facility, available where the business demonstrates sufficient cash generation to service the additional debt.
Who Is IGF For?
IGF serves UK mid-market businesses needing £2 million to £25 million in working capital or transaction finance. Typical clients are founder/family-owned businesses, management-owned companies, and sponsor-backed corporates. IGF explicitly targets complex situations – acquisitions, buyouts, exits, turnarounds, and refinancing – where standard bank or SME invoice finance is insufficient. Notable clients include The Body Shop, Hypnos, Phoenix Gas, and Yodel. If your business needs less than £2 million, IGF is not the right provider.
IGF positions itself as a lender for businesses that have outgrown SME invoice finance but may not meet the criteria (or want the rigidity) of a Big Four bank ABL facility. The sweet spot is businesses with £10 million to £100 million turnover that need multi-asset funding structured around their specific circumstances rather than a standard product. IGF’s emphasis on senior decision-maker involvement from day one reflects this – deals at this level require bespoke structuring, not automated approvals.
IGF Group vs SME Invoice Finance Providers
IGF is not a direct competitor to SME invoice finance providers like Bibby, Kriya, Novuna, or Skipton. Those providers serve businesses with £50,000 to £5 million turnover and offer single-asset invoice finance. IGF serves businesses needing £2 million+ facilities across multiple asset classes. The comparison is relevant only for growing businesses that have reached the ceiling of their SME facility and need to step up to a mid-market ABL solution.
| Factor | IGF Group | Bibby Financial Services | Kriya |
|---|---|---|---|
| Minimum facility | £2 million | No minimum | £100,000 turnover |
| Maximum facility | £25 million | ~£15 million | Not disclosed |
| Asset classes | Receivables, inventory, plant, property, cash flow | Receivables only (plus Forward Finance) | Receivables only |
| Target market | Mid-market corporates (£10m–£100m turnover) | SMEs (any turnover) | SMEs (£100K+ turnover) |
| Typical use case | Acquisitions, MBOs, turnarounds, growth | Working capital, cash flow | Ad-hoc cash flow (PAYG) |
| Trustpilot | No reviews | 4.7/5 (934 reviews) | 4.1/5 (580 reviews) |
Pros and Cons
- Best Invoice Finance Companies UK 2026 – compare SME-accessible providers
- Asset Finance UK – alternative asset-backed funding for smaller businesses
- Invoice Discounting UK – confidential receivables-only facilities
- What Is Invoice Finance? – how invoice-based funding works
- Close Brothers Invoice Finance Review – bank-backed mid-market alternative
For a wider view of funding options, see our complete guide to business finance. Considering releasing cash from unpaid invoices? Our invoice factoring guide explains how it works.
IGF Group review: mid-market ABL from £2m to £25m. Lends against receivables, inventory, plant, and property. Not for SMEs. 2026 assessment.
