Where Can You Source A Bridging Loan?
If you are looking for bridging finance for a commercial venture such as to purchase a new property to be occupied by your business pending the sale proceeds of your existing premises coming to fruition then you are likely to require a speedy decision and the funds to be promptly released. So, where can you obtain such finance?
Well, it probably does not come as a surprise to read that there are a number of places that you can obtain a commercial bridging loan. For instance, the major high street banks and building societies are a popular choice of those requiring such short-term finance.
After all, you have probably maintained your business current account with your bank for many years and may have utilized an overdraft facility and/or loan whilst you have had an account with them. Your bank will be aware of your business’s history including its financial trading performance so should be able to provide you with a quick decision as to whether they can support your request for a bridging loan.
There are companies that specialize in providing bridging loans and it is even possible to arrange such finance through some peer-to-peer lenders.
However, although the ability to get a quick decision on such a loan may be important to you, it should not be forgotten that the interest rate that you pay plus any charges for arranging such finance should also be considered. Therefore, in order to get a competitive deal when it comes to arranging a bridging loan you may wish to contact a broker.
By contacting ourselves, we should be able to source numerous providers of such finance on your behalf ensuring that you obtain a competitive rate of interest and pay reasonable charges. We can usually source a suitable lender quickly so that you do not miss out on the opportunity to purchase the likes of new premises. We will help you put together the necessary paperwork that will be required by the lender in order to consider your proposition and will liaise closely with all parties.
We look forward to hearing from you.