When running a business, it's possible that you'll be put in the situation where you need to complete your purchase, need access to funds for property investment, VAT or inland revunue payments or just simple cashflow issues. This is where bridging loans come in.
Bridging loans could be for a substantial sum, from £25000 to cover a shortfall to up to a few million pounds. The amounts are borrowed for periods from a week to up to six months.
Bridging loans are readily available, they are normally paid back quickly which makes them a good short term option. People taking out a bridging loan are usually in a situation whereby instant access to funds overrides the normal costing structure. Because of the short term of bridging loans, interest rates will be around 1.5% a month. In addition, you may also have to pay an administration or management fee of about 1.5% of the loan, depending on the loan's size. For more information, please contact us on 0191 488 8445 |
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