Commercial Bridging Loan to Enlighten Your Business

by : Eva Baldwyn

You are considering of leasing a new life in to your business enterprise. For that matter, you are looking for a new property or an office from where you can make the start. In fact you have a site in mind, but due to high price of the same you are finding it difficult. In this regard, your only solution lies in selling the existing property. But the necessary paper work and transaction will consume a lot of time. By the time you arrange the finance, the proposed site may be out of your hands. To help individuals like in you in this regard, lenders are now offering .

These loans are specially meant to offer the requisite monetary assistance to borrowers like you so that they can purchase commercial property. Basically these loans bridge the cash gap which occurs while purchasing a new property. These are very quick loans which get approved within a period of 24 hours, which makes it easy for you to instantly clinch the deal. Moreover, during the repayment period, you are not required to pay the installments. These are interest only loans, where in you have to pay interest only until you are able to sell the old property to repay the borrowed amount.

In fact these are secured loans where you are required to pledge your existing home as collateral. Depending on the equity value of the collateral, lenders approve the loan amount. Although these are secured in nature, the interest rates are relatively high. It is because these loans have a short repayment period which is mostly in between 6 weeks - 12 months.

Those with bad credit can freely access the loans, as the lenders have an asset to bank upon. By timely repaying the amount, the very same borrowers have a opportunity to increase the credit score.

These loans are available with numerous lenders such as banks, financial institutions as well as with online lenders. But it is the online lenders who are known to offer these loans instantly. You just need to fill an online application form and the amount gets transferred without any delay.

Commercial bridging loans are in a way a chance to elevate your business to a greater height. But before availing these loans, you must compare the quotes. Only after that, you should pick up a particular deal.