Commercial finance provider Independent Growth Finance (IGF) has reported that seven new clients signed in December.

It now has £126 million funds in use.

Of the seven new asset-based lending (ABL) clients signed in December, three are based in the Midlands, with combined funds in use of £6 million.

John Onslow (pictured), CEO of IGF, said: “We closed 2019 with a fantastic month of new business across the UK. This has set us up very well for a strong end to our financial year. Of all the records broken during this period perhaps the most rewarding was the sheer amount of cash collected. It really illustrates how liquid the assets are that we fund and the volume of cash locked away.

“We understand there is a determination by SMEs to invest and focus on their futures. By providing more than £1 billion of new funding over the course of 2019 we are playing our part in ensuring UK SMEs have access to the right financial support.”

IGF has also announced the appointment of new commercial director, Matthew Shepherd. He joins from the ABL division at CYBG, previously Clydesdale and Yorkshire Bank, to spearhead national growth.