Bridging Finance can be a useful tool for some businesses; it involves short-term borrowing usually for a specific project.
So, what does bridging finance entail? It’s usually provided over a short period of time, at a higher monthly interest rate than a traditional longer-term loan. Lenders usually require a clear exit strategy – usually the borrower being able to earmark the sale of a property, a re-finance or another event that will enable them to pay back the loan.
So, is bridging finance right for your business?
Well, that depends on the business and what you are looking to do. The type of finance which is right for you and your business might be very different for another business. Which is why at ASC Finance for Business, we arrange an in-depth discussion with each business looking for finance, to help understand which finance is right for them, and how best to proceed in applying for finance.
To discuss Bridging Finance or other types of finance for your business with an experienced director, with no obligation, speak to the specialists today.