IGF (Independent Growth Finance) vs Novuna Business Finance: UK Invoice Finance Comparison 2026

Both operate in UK independent invoice finance, outside the high street banks. They differ on sector focus, headline pricing and the minimum turnover they will consider. IGF (Independent Growth Finance) advances up to 90% receivables + stock + plant with setup typically in 10 working days; Novuna Business Finance advances up to 90% with setup in 7 working days. IGF (Independent Growth Finance) needs £500k minimum turnover, Novuna Business Finance needs £500k minimum turnover. Read the side-by-side below, then jump to the "when X wins" sections.

Side-by-side

As of 2026-06-24. Headline rates and advance percentages reflect each provider's published or commonly-offered position; bespoke pricing applies above ~£1m ledger so verify before signing.
IGF (Independent Growth Finance) Novuna Business Finance
Product type Invoice finance (ABL, CID), asset-based lendingInvoice finance, asset finance, vehicle finance
Min turnover £500k£500k
Advance rate Up to 90% receivables + stock + plantUp to 90%
Typical fee Bespoke pricing1% to 2.5% service charge
Contract / commitment Whole-ledger or selectiveWhole-ledger or selective
Confidential available? YesYes
Factoring available? YesYes
Setup speed 10 working days7 working days
Best for Mid-market £5m-£50m turnover; Complex ABL needs (receivables + stock); Turnaround and restructure cases£500k-£10m turnover Ltd companies; Cross-product (IF + asset) facility seekers; Stable mid-market funders
Last reviewed 2026-06-242026-05-12

When IGF (Independent Growth Finance) wins

  • ABL specialist: receivables + stock + plant under one facility.
  • Mid-market deals to £25m, where monoline IF lenders cap out.
  • Flexible covenant negotiation.
  • Established mid-market ABL reputation.

Best for

Mid-market £5m-£50m turnover, Complex ABL needs (receivables + stock), Turnaround and restructure cases.

Watch outs

  • Pricing bespoke, not transparent in marketing.
  • Setup 10 days, slower than monoline IF.
  • £500k+ minimum excludes smaller SMEs.

When Novuna Business Finance wins

  • Backed by Mitsubishi HC Capital UK balance sheet.
  • Multi-product cross-sell (IF + asset + vehicle).
  • Mid-market panel relationships strong.
  • Long-established UK presence as the former Hitachi Capital UK.

Best for

£500k-£10m turnover Ltd companies, Cross-product (IF + asset) facility seekers, Stable mid-market funders.

Watch outs

  • Pricing not aggressively published.
  • Slower decisioning than fintech.
  • Less competitive on £100k-£500k turnover SME.

FAQ

IGF (Independent Growth Finance) or Novuna Business Finance: which is the better fit for UK invoice finance in 2026?

IGF (Independent Growth Finance) is the stronger fit for mid-market £5m-£50m turnover (£500k minimum turnover, setup 10 working days); Novuna Business Finance fits £500k-£10m turnover Ltd companies better (£500k minimum turnover, setup 7 working days). The "when X wins" sections above break this down by profile.

What are the headline commercials, IGF (Independent Growth Finance) vs Novuna Business Finance?

IGF (Independent Growth Finance) advances up to 90% receivables + stock + plant at bespoke pricing. Novuna Business Finance advances up to 90% at 1% to 2.5% service charge. IGF (Independent Growth Finance) needs £500k minimum turnover, Novuna Business Finance needs £500k minimum turnover. Setup runs 10 working days for IGF (Independent Growth Finance) and 7 working days for Novuna Business Finance. Bespoke pricing is common above £1m ledger so verify before signing.

Can I get a confidential facility with either IGF (Independent Growth Finance) or Novuna Business Finance?

IGF (Independent Growth Finance) offers confidential invoice discounting (your customers are not notified). Novuna Business Finance offers confidential invoice discounting (your customers are not notified).

Where does each one struggle?

IGF (Independent Growth Finance) is the wrong fit for sub-£500k turnover. Novuna Business Finance is the wrong fit for lowest-cost seekers. If either describes your business, browse the side-by-side or get matched against the wider UK panel via our quote form.

Can Market Invoice help me choose between IGF (Independent Growth Finance) and Novuna Business Finance?

Yes. marketinvoice.co.uk is an independent comparison and introducer service operated by Best Business Loans Ltd (company 16833937), and is not tied to either provider. Share your turnover, sector and debtor profile and we will match you against UK invoice finance providers likely to approve, with no obligation to proceed.

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Disclosure: marketinvoice.co.uk is an independent invoice finance comparison and introducer service operated by Best Business Loans Ltd (company number 16833937). It is a separate business and is not connected to MarketFinance / Kriya or to any provider named on this page. If you take out a facility after we introduce you to a lender or broker, we may be paid a commission or referral fee by that party; this is never added to your costs. Invoice finance for limited companies is not a regulated activity, so this comparison is general information rather than regulated financial advice. Figures are indicative and commonly negotiated above ~£1m ledger, so confirm terms directly with the provider before you sign.

Reviewed by Oliver Mackman, Director. Last reviewed: 2026-06-24. Editorial by Best Business Loans Ltd (16833937).

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