Best secured bridging loans
Some times you may need bridging finance !
Situation 1 – A business is moving premises – Unfortunately normally you can’t close your main business until your new plant or premises have been prepared with machinery or the necessary equipment to function properly. In these cases Best secured bridging loans credit can be used to provide temporary cash until your new premises are functioning and the old premises sold.
Situation 2 – A business needs to raise cash fast – In this instance a business may need to buy out a competitor or expand it’s existing business and it doesn’t have time to wait for a commercial mortgage or business loan. Bridging finance can normally be raised in as little as 2 or 3 days.
Situation 3 – A company needs to purchase stock – If a companies liquidity is low and it doesn’t have enough to buy a bargain lot of stock then secured bridging loans can be used a temporary financial fix.
Situation 4 – Purchasing a property at auction – With land and property auctions it is normal that transfers of funds take place very shortly after an auction ends. If you have no commercial mortgage or loan in place then bridging finance is a perfect short term solution.
Situation 5 – Venture capital – Many entrepreneurs us this type of credit to take advantage of deals where money is needed now not in a couple of weeks. Because of the speed that these loans can be arranged in they are perfect for this type of application.
Situation 6 – Any legal reason – If you have another use for commercial, domestic or any reason whatsoever then you’ll be glad to know that you can use this type of credit for any reason provided that it is legal.
From the above you can see the kind of uses for secured bridging loans, but the uses are as varied as the people who need the finance. The next stage is to get a quote to see if a bridging loan could help you. Our website can offer more advice or individual quotations if required.
Obviously you are interested in the price for a loan of £200000 for a 3 month period at 1% would cost you £6000. Many factors such as security offered and a customers risk profile can give a lower or higher rate. Interest rates vary depending on the security offered and your credit file.
Many people don’t apply for secured bridging loan because they expect to be rejected, or have already been turned down by their bank. You may be surprised though as we can accept applications from people with County Court Judgements.
