Bridging Loans for Business
Bridging loans are most commonly used for property purchases, but there are also a number of uses for business.
Bridging finance offers a fast, flexible way to borrow large amounts of money when you need short-term finance. Funds can often be accessed in as little as a few days and can typically be repaid over up to 18 months, although longer repayment terms may also be an option depending on circumstances.
Reasons to use bridging loans for business
There are several situations where a bridging loan could be a good choice for your business.
To find out whether a bridging loan could be a good solution for your business finance needs, it is highly recommended to speak to an experienced independent bridging loan broker.
The cost of bridging loans for business
The main costs of a bridging loan for business are:
Arrangement fees (typically 1-2% of the total capital, paid when taking out the loan)
Exit fees (also normally 1-2% of the total capital, paid when the loan is repaid – not all lenders charge exit fees)
Monthly interest (you may have the option to roll this up and pay it as a single lump sum when the loan term ends)
Interest rates and fees vary significantly from lender to lender, so it is important to shop around before choosing a bridging loan for your business.
Compare bridging loans for business
To ensure your borrowing remains cost-effective, you need to compare deals from across the market when using a bridging loan for your business. Our free bridging loan calculator makes it fast and simple to find the most attractive interest rates, fees and conditions on bridging loans for business.
Looking for bridging loans for business? Get in touch with our friendly expert team of loan brokers using the contact form on the right or by calling 0117 313 6058.