Common sense lending for all purposes.
Bridging loans for all purposes.
We lend to individuals and companies looking for short to medium term bridging loans for any purpose. We take a common sense approach to lending and can often assist when the banks cannot.
Bridging Loans and Finance
The term bridging finance relates to an urgent funding need to bridge a gap between a shortage. You might find yourself in this position so it is important to know the ins and outs of bridging finance and that it can be a simple financial product to apply for.
You need funding now or immediately and you have a pending repayment plan. The most common type of bridging finance is when you have bought a new property before your current property has sold. That being said, this type of finance product can be used for many other purpose including business.
You would utilise bridging finance when you need immediate cash and you know you can repay it in the medium to short term. Some reasons include:
- You need to settle on a new property before you have sold/settled on your current one.
- You need to pay at debt to the ATO or a creditor and you have a good exit strategy to repay the bridging finance.
- For your business cash flow
- For completion of construction.
The above are just some of the reasons borrowers obtain bridging finance. This style of finance can be more costly than normal bank loans as they are urgent however the cost of you not taking action outweighs the cost of finance.
- You want to buy a property before selling the one you already own.
- You have bad credit, so you can’t get another mortgage for a second property.
- You need help with financing when trying to buy a new property.
- Bridge loans can be easy to qualify for with non bank lender.
- Bridge loans help you take advantage of great opportunities for new property.
You might be thinking “How does a bridging loan work?”. Originally bridging loans help people fund the purchase of a new property whilst selling an existing property. These days they can be utilised for any form of short term funding requirement.
It can also be used for any short term funding requirement including buying stock, paying an ATO debt, expansion, cash flow, working capital and so on.
Bridging loans are often utilised by people who have already signed a contract to then hear the bank decline them. They have good strong equity or cash to provide but the banks can not act quick enough or require too much paperwork.
The right bringing loan lender can provide cash in days of formal approval. Loan terms are generally between 1 to 12 months.
Why use funding.com.au for your bridging loans and finance?
How do I get started?
Receive a conditional approval the same day if we can fund your loan.
We complete our due diligence on the loan and on formal approval loan documents are signed.
Within days, not weeks or months. We have settled loans in as little as 48 hours.