When quick financing is needed, Commercial Bridging Loans may be the answer. This type of financing is a short term loan that can be used to purchase a property quickly, make purchases at auction, complete legal transactions, free up working capital, and purchase properties that have gone into repossession.
Commercial Bridging Loans are often secured by either a residential or commercial property, or land and building plots. This is a temporary financial solution to help facilitate quick purchases and EuroGuide’s knowledgeable bridging loan consultants work to raise the necessary funding for their clients within five to seven business days given the proper security is offered in order to make those purchases possible.
Criteria for Commercial Bridging Loans
Before applying for this type of loan, it is important to know the details of what this financing includes. Commercial Bridging Loans can be arranged for between £25,000 and £50 million with repayment periods from one to 12 months.
The interest rates for these loans are generally 0.75 percent per month and can offer the highest LTV, or Loan to Value, rates. Commercial Bridging Loans can be arranged for Limited Companies, Sole Traders, Partnerships and private individuals with the ability to have funding available in as little as five to seven working days. Additionally, EuroGuide can arrange Commercial Bridging Loans for applicants with CCJs, arrears, bankruptcy and defaults on their credit history.
Why Use Commercial Bridging Loans?
These Loans are a great financial solution for those looking to complete transactions quickly. This type of financing is ideal for freeing up working capital or increasing cash flow for other projects, making confident purchases in an auction situation or purchasing properties in quick sale as well as potentially stopping a repossession situation.
Commercial Bridging Loans are available to borrowers who are either employed or self-employed and even to those who have credit problems in their past. Commercial Bridging Loans do not exclude borrowers who have CCJs or even discharged bankruptcy in their past, making this a great choice for many financing situations.
Although Commercial Bridging Loans have a number of great benefits, such as fast funding arrangement and flexible repayment options, it is important to keep in mind that this type of loan may not be suitable for every situation. In order to gain a full understanding of how Commercial Bridging Loans work, we encourage you to call our knowledgeable consultants to discuss your lending needs.
The team at EuroGuide can help determine if Commercial Bridging Loans are right for you, if your lending situation meets the minimum borrowing requirements or what other financing or loan options may be available that better fit your needs. For more information, give us a call at 0292 108 0712.