Alternatives to IGF (Independent Growth Finance)
4 UK invoice finance alternatives to IGF (Independent Growth Finance), compared on advance rate, setup speed, transparency, minimum turnover and best-fit.
The leading UK invoice finance alternatives to IGF (Independent Growth Finance) are Ultimate Finance, Novuna Business Finance, Aldermore Invoice Finance and Time Finance, compared here on advance rate, setup speed, minimum turnover and rating. More detail + scope
Summary
IGF (Independent Growth Finance) is benchmarked against 4 UK invoice finance alternatives: Ultimate Finance, Novuna Business Finance, Aldermore Invoice Finance and Time Finance. Each is compared on product type, minimum turnover, advance rate, typical rate, setup speed and overall rating, so you can see which fits your turnover and how fast you need funding. MarketInvoice then matches you to the best-fit provider.
This page covers
UK invoice finance alternatives to IGF (Independent Growth Finance), compared on product type, minimum turnover, advance rate, typical rate, setup speed and rating
Not covered here
In-depth single-provider reviews (see /providers/), head-to-head comparisons (see /vs/), general invoice finance education (see /guides/)
IGF (Independent Growth Finance) vs the 4 alternatives
| IGF (Independent Growth Finance) | Ultimate Finance | Novuna Business Finance | Aldermore Invoice Finance | Time Finance | |
|---|---|---|---|---|---|
| Product | Invoice finance (ABL, CID), asset-based lending | Invoice finance (factoring, CID), bridging, asset finance | Invoice finance, asset finance, vehicle finance | Invoice finance (Receivables Finance, factoring, CID) | Invoice finance, asset finance, vehicle finance |
| Cluster | independent | independent | independent | independent | independent |
| Min turnover | £1m | £100k | £500k | £750k | £250k |
| Advance rate | Up to 90% receivables + stock + plant | Up to 90% | Up to 90% | Up to 90% | Up to 90% |
| Typical rate | Bespoke pricing | 1.5% to 3.5% service charge | 1% to 2.5% service charge | 1% to 2.5% service charge | 1.5% to 3% service charge |
| Setup speed | 10 working days | 3 working days | 7 working days | 7 working days | 7 working days |
| Rating | 4.1 | 4.3 | 4.2 | 4.2 | 4.1 |
Ultimate Finance
3 working days · Up to 90%One of the fastest mainstream UK invoice finance setups we track, 3 working days typical. Owned by Tavistock Group. Strong on SME accessibility, flexible underwriting, and broader product set (also asset finance + bridgi
Novuna Business Finance
7 working days · Up to 90%Novuna Business Finance is a division of Mitsubishi HC Capital UK plc, formerly Hitachi Capital UK (rebranded Novuna in February 2022). Mid-market mainstream choice with strong asset finance cross-sell. Stable funding li
Aldermore Invoice Finance
7 working days · Up to 90%Challenger bank with a dedicated invoice finance arm, relaunched as Receivables Finance in 2025 with Growth Guarantee Scheme accreditation. Mid-cost mid-speed mainstream choice. Bibby acquired Aldermore Working Capital F
Time Finance
7 working days · Up to 90%AIM-listed UK independent specialist lender whose gross lending book passed £250m in 2026 (company RNS). Multi-product (IF + asset + loans). Mid-market SME focus. Mid-cost mid-speed mainstream choice. Strong panel for B2
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Founder & Managing Director, Muswell Rose, founder and PSC of Best Business Loans Ltd
Adam is the founder and managing director of Muswell Rose and a founder of Best Business Loans Ltd, the company behind Market Invoice. He spent over three years as managing director of Penny, a UK invoice finance business, and his career runs through insurance, mortgages, commercial finance and fintech lending. He writes the Market Invoice library.
Last reviewed: 24 June 2026