What is a bridging loan?
A Bridging loan is a short-term loan to bridge the funding gap and need immediate access to capital.
It can be used for any purpose within your business.
So whether you need to temporarily aid your cash flow, buy property or release equity, a bridging loan is what you need. Bridging loans are short term loans and you should have a clear exit in place before taking out the loan. If you need long term commercial finance then click here.
Bridging loans are a great solution to short term financial problems, the loan is secured against residential property, commercial property, buy to let or land.
Times when a bridging loan should be considered:
- When a client doesn’t pay on time
- Assist with a big purchase
- Buying supplies for a project
- During times when cash flow is not steady
What lenders consider before offering a bridging loan
- Market leading rates
- Up to 100% LTV available (subject to additional security)
- Interest can be retained or serviced or combination of both
- Auction funding available
- Light and Heavy refurbishment
- Terms from 1-24 months
- Lending in England, Scotland and Wales
If you are thinking about getting a bridging loan then talk to a member of the Funding Hut team, who have contacts with all the major lenders. We will be able to secure you the best loan for your circumstances.