IGF, the commercial finance provider for SMEs, has recently delivered a £4.5 million asset based lending (ABL) line to London-based wholesaler and marketer of consumer products, Thane Direct UK.
This facility will enable Thane to expand into new product categories to build on its existing home and fitness products that it markets through various outlets including its own home shopping channel, stocking products in many high street retailers.
Victoria Parkes, director of finance at Thane Direct UK, said: “The facility from IGF has given us the ability to invest in new products. IGF has gone over and above our initial requirements, and we have been impressed by the efficiency and professionalism shown by the team.”
Alan Austin, ABL director – London & South East at Independent Growth Finance, added: “We are always proud to help businesses across the country achieve their strategy and growth goals, and our ABL facility meant Thane was able to raise capital to support its growing business.
“With the appetite and accessibility for exports currently at a high, many smaller firms need a financial injection to support their exporting ambitions, and we were able to deliver such a facility for Thane.”