Sometimes, an opportunity comes your business’s way that is really too good to turn down. However, it may not have come at the right time as far as your cash flow is concerned. This is where a bridging loan may provide the solution.
As the title indicates, a bridging loan is a secured finance arrangement that tends to make available funds very quickly for a short period of time – usually for a period of a few weeks up to a maximum of 2 years.
Examples of what this type of funding could be used for are: –
- To complete the purchase of a new business premises pending completion of the sale of your old business premises.
- To purchase a buy-to-let property at auction.
- For property conversions, refurbishments and developments.
- To assist with the cash flow of the business such as to purchase additional stock in readiness for the busy Christmas period.
The funds can be made available in a number of ways such as all of the monies being paid at once or in stage payments. Interest would only be calculated on the amount outstanding on a daily basis.
We welcome the opportunity to help you in your search for suitable, competitive bridging finance.