Short-Term Finance Solutions
Added: (Fri Nov 03 2017)
Pressbox (Press Release) -
One of the UK’s largest and most trusted bridge loan lenders, Bridge Direct has confirmed that they will continue to offer short-term financial solutions to all property developers and commercial business owners for any business application.
Bridge loans are short-term loans that are used to ‘bridge the gap’ for a limited time a longer terms solution becomes available, usually in the form of a bank loan or mortgage. Many people will utilize bridge finance as it offers an instant source of funding, which can help them overcome temporary financial difficulties.
Advantages of using a bridge loan during for new property purchases:
For many years bridge loans have become associated solely with property purchases, and this is for good reason. Many property developers will make use of bridging finance and bridge loans to help purchase and sell properties. For example, during property auctions, property developers can bid knowing they will be able to quickly release the funds through a bridging loan, to meet the short turnaround of sale, without having to go through the rigmarole of applying for a mortgage and passing lengthy credit checks. As an added bonus, if the purchased property only requires a quick cosmetic makeover the buyer can flip the property quickly, meaning no long-term mortgage would be required at all.
Uses of bridge loans for commercial purchases:
As was mentioned before, generally bridging finance and bridge loans have become solely associated with property purchases. However, they can be applied for any business application, and are becoming increasingly popular amongst businesses. But the fact is that bridge loans or gap finance can help the business maintain cash flow and keep them out of sticky situations. For example;
1) While starting new ventures a business can make use of a bridge loan to kick-start funding and give a healthy injection of cash.
2) Settling large tax bills. Sometimes large tax bills can come out of the blue, by using a bridge loan a business can pay this off quickly, avoiding the hefty penalties and fines.
3) Financing a deficiency on an overrunning venture to assist finish them on time. Overrunning projects are becoming more and more common in an online, agile world. By using a bridge loan you can release the needed equity to help finish the project and get it earning its money.
What is the biggest advantages of a bridge loan?
No Credit Checks
No Set Criteria
So, if you are looking for bridging finance for any business application, then look no further than Bridge Direct. Here, at Bridge Direct you speak directly with the decision maker, no middlemen are involved. You will be guaranteed an instant decision on your loan request, and no matter your situations, Bridge Direct may have a bridge loan deal for you.