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Bridge Loans – get emergency finance when you need it most

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Bridge loans are becoming commonly used to help business maintain a healthy cash flow and keep businesses functioning during difficult periods. For example, you may have a large, overdue customer invoice, who are taking their time to repay. In this case by taking out a short-term bridge loan, you can maintain business as usual, without having to worry about taking out a long term business loan from a bank.

The duration bridge loans will depend upon the lender, as a general rule these terms are between 6 – 12 months. As with most short term loans, the interest rate on a bridge loan is generally a little bit higher than that of a bank loan due to the risk involved. Again, this will differ from lender to lender, however, when you apply for a bridge loan with Bridge Direct, you can be assured that they will try to find you the best deal for you and your situation.

Bridge loans can be used to help in many, many situations, and for both business and residential applications. For example;

Using a Bridge Loan for Residential requirements

You could be looking through the local paper one morning, and see an advertisement for the perfect house in the right catchment area for the local school, close by to the shops and local amenities. However, this has caught you unprepared and you haven’t even considered applying for a mortgage. With high set criteria and increased credit checks and due diligence, it can take weeks or even months to get a decision on a mortgage, in which time someone else will more than likely have bought the property.

Using a bridge loan, could resolve this situation. By applying for an instant decision bridge loan from Bridge Direct. You could free up enough capital in your existing property to make a down payment or even buy the new property in full, until you secure a bank loan or mortgage.

Bridge finance offers the borrower more time to investigate and find the right long term loan, as well as giving additional time to secure the loan.

How can a Business owner will make use of Bridge Loans?

A lack of funding is the main issue many businesses are not able to market products sufficiently, further develop existing products or even develop new innovative products and services.

It becomes a catch 22 situation in some cases, as in order to stay ahead of the competition business need to strive to further develop and refine the products and services they offer, but as this normally involves spending more money, many business are forgoing this and being taken over by those able and willing to invest the money.

This is why many business owners are now opting to use bridge loans and bridge financing to stay ahead of their competitors.

What are the differences between traditional loans and Bridge Loans?

The biggest issue with the approval process for traditional bank loans and mortgages is down to the lengthy credit checks and due diligence. Due to the recent economic crisis, banks have become more and more wary about who they lend their money too, and as a result the checks now do take longer to complete. With the increased set criteria, if you have any history of bad or adverse credit you will more than likely not even get past the first hurdle. As bridge loans are a secured loan, they don’t require the same lengthy credit checks, and when you apply for a bridge loan from Bridge Direct, you can be assured of an instant decision, even if you have bad or adverse credit.

Where can I find and apply for a Bridge Loan?

Throughout the UK you will find many companies providing bridge loan services, however, the majority of these companies are brokers. This means that they do not lend funds directly and work with other lenders to lend out their money, adding their interests, fees and charges on top. This also means that getting a decision can take a while whilst they work through their list of lenders to see who is prepared to offer the loan.

You won’t find this with Bridge Direct as they are direct lenders and not brokers. When you apply for a bridge loan with Bridge Direct, you will be given their 100% guaranteed instant decision on all the loan requests and in some cases you can receive funds on the same day. Bridge Direct has no set criteria, accept 1st and 2nd charges and you may even be approved if you have bad or adverse credit. The team at Bridge Direct has 30 years of lending experience and they will offer the best possible deal on your request no matter your situation, even if you have bad or adverse credit. 


Tags: Bad Credit Finance, Bridge Finance, Bridge Loans, Bridging Finance, Bridging Loan, Short term bridge loans

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