Bridging Loans are a very popular choice. Occasionally businesses require a shorter term solution, perhaps you know that you will be receiving funds in the next few months with the completion of a re-mortgage, property sale or invoice pending. You need funds in the short-term to cover up, so this is where bridging loans are the best solution. Konnect Financial will help you get a bridging loan within 1 day and the loan can be used for any business purpose.
- Business Funds: short term working capital
- Auctions: purchasing bargain property quickly at auction
- Temporary cash flow problems: when you require cash urgently
- Tax Liabilities: finance those unexpected tax bills
- Property Refurbishment: upgrade your residential or business premises
- Buy-to-let: don’t miss out on an investment opportunity
- Moving House: seen your ideal property but in a chain & need temporary funding to move quickly
A bridging loan is used as a short-term alternative until a longer term solution is available. These are short-term loans usually up to 4-5 months, albeit longer periods can be negotiated either at the beginning or throughout the initially agreed term of the bridging loan.
Bridging Loans are used primarily for property related reasons and can be secured on most residential property or commercial land. Funds raised from bridging finance can be used for pretty much any legal reason, provided it is agreed with the lender from the outset.
The popular bridging loan these days is used to cover up for invoices due to be paid where work is already completed, they can cover the gap and help support funds for your business.