Commercial finance provider Independent Growth Finance (IGF) has reported year-on-year growth in the year to June 2018, with a 76% increase in funds advanced to SMEs across the UK.

To support current and future business growth, during September IGF will relocate its head office to new premises in Redhill, Surrey.

The business is backed by private equity firm Spring Ventures, who recently substantially increased its commitment in the company, directly supporting this sustained growth.

John Onslow, CEO of IGF, said: “The last financial year has seen another strong performance for IGF. Our asset based lending proposition continues to excel as we provide flexible finance solutions to ambitious growth companies.

“We’re committed to helping our clients find the right solution for their business. Over the coming months we are looking to double the size of our asset based lending sales team, seeking aspirational people who want to be a part of our growth story. The office move to Redhill will provide the right environment to continue our significant growth.

“As we look forward to the coming year and future expansion, we are very pleased to have the continued support and substantial backing of Spring Ventures.”

John Hudson, managing partner at Spring Ventures, added:  “We are delighted to see IGF go from strength to strength. Our increased commitment is a measure of their achievements to date and our confidence in the delivery of future success.”