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Bridge loans have always generally been associated with property purchases, however, many businesses also benefit from using bridge loans for a wide variety of business applications.
In today’s blog post we will discuss what bridge loans are and how to reap their benefits. We will also look at why they have become solely associated with property purchases and how they can be applied to other aspects of business.
Bridge loans are a short-term finance that are taken out as a stop gap between securing funds or a longer term funding solution such as a bank loan or mortgage. As a general rule a bridge loan duration would be between 12 months to 18 months. Bridge loans can also sometimes be referred to as gap financing, as you are ‘bridging the gap’ between funding solutions.
So, what are the benefits of bridge loans?
It couldn’t be simpler, to get an instant quote go to the www.bridge-direct.com bridging calculator;
Once entered click the calculate button and you will be called back with an instant decision, at your convenience, by one of our decision makers.
The interest rates on Bridge loans generally a bit higher when compared with a long term funding solution like a mortgage. These rates are generally the interest rates would ranges from 9% to 12%, however these can fluctuate dependent upon the size of the down payment. So the bigger the down payment, the lower the interest rate.
If you are looking for a Bridge loan for any business application, then call the Bridge Direct team on 020 3126 4969 or by filling in the simple contact form at www.bridge-direct.com. The team at Bridge Direct have over 30 years of lending experience in bridging and the financial sector. There are no set criteria, no credit checks and you may be eligible for a loan, even if you have bad or adverse credit.
Call Bridge Direct for an guaranteed instant decision today.