Independent Growth Finance
An independent multi-asset lender writing facilities of £2m to £25m against receivables, inventory, plant and property, with in-house credit and no bank chain behind the decision.
What they do
Independent Growth Finance has lent since 2016 and manages more than £600m of funds. Facilities are multi-asset from the outset: up to 90 per cent against receivables, 85 per cent against inventory, 75 per cent against plant and machinery and 75 per cent loan to value on property, combined into a single borrowing base. It is privately owned and institutionally funded, so credit decisions are taken in-house rather than referred up a bank's chain. Offices are in London, Birmingham and Manchester, serving clients turning over from £3m to £200m, without sector restriction.
Where they fit in a lower-mid-market raise
This is a prime asset-based counterparty for the £3–15m band, and one of the few that is equally comfortable with a sponsorless owner-managed buyout as with a private-equity deal. Management buyouts and buy-ins, acquisitions, growth funding, refinancings and turnarounds are all mainstream here, and independence means speed: the person the borrower meets is close to the person who says yes.
Where they are not the fit
Advance rates carry the facility, so an asset-light business will find the borrowing base too small to matter regardless of profitability. As an independent it prices above a bank-owned asset-based lender, which is the cost of the flexibility and the pace. Pricing and delegated authority limits are not published.
Published terms
- Pricing
- Not published
- Speed to terms
- Not published
- Sponsored or sponsorless
- Both - founder/family, management and sponsor-owned
- Where they lend
- Offices London, Birmingham, Manchester; operational centre Redhill
- How they decide
- Independent privately-owned lender - in-house decisions, no external bank credit chain; delegated authority implied; committee cadence not published. Authority is delegated below committee on at least part of the book
- Security
- A borrowing base over receivables, inventory and plant
- Covenants
- Springing covenant, tested only when a trigger is hit
As published by the lender and last reviewed June 2026. Terms quoted on a deal are set by the credit, not by a published band.
What rules a deal out
Stated limits, taken from Independent Growth Finance’s own published criteria. A limit is where a lender starts from, not where it always ends: several of these move on a strong enough credit.
- No appetite in adult, crypto, gambling or weapons
How they sit against the category
- Its published ceiling is £25m; 14 of the 40 asset-based lenders here go at least as high.
- Like 29 of the 40, it publishes no indicative price — a margin comes from a conversation, not a page.
Counted across the 40 asset-based & asset-finance lenders in this directory, on what each one publishes. What a lender discloses and what it will do are different things.
Questions this page answers
How large a facility does Independent Growth Finance write?
Published facilities run £2m to £25m. A band is what a lender states it will do, not what it will do on a given credit.
What security does Independent Growth Finance take?
On the published terms, a borrowing base over receivables, inventory and plant. What a lender takes on a given facility is set in the documents, not by a published stance.
Does Independent Growth Finance lend to companies without a private-equity sponsor?
Yes. Independent Growth Finance lends to owner-managed and sponsor-backed borrowers alike, so a company with no private-equity backer is not out of scope on that ground.
Where does Independent Growth Finance lend?
Offices London, Birmingham, Manchester; operational centre Redhill.
What covenants does Independent Growth Finance set?
Springing covenant, tested only when a trigger is hit. A covenant package is negotiated on the facility; the published style is where the negotiation starts.
On the record
2025: £20m ABL facility to CF Booth (Rotherham metals recycler) for expansion (insidermedia.com.
March 2025: aggregate facilities under management >£600m (icaew.com.
October 2025: named Asset Based Lending Team of the Year, North West Insider Dealmakers Awards.
Sources: igfgroup.com
This profile is a curated reference note drawn from public sources, not financial advice or a recommendation. Appetite and terms change; a lender's fit for a given credit is established by approaching it, not inferred from a page.