Bridge finance can be suitable for individuals and businesses that need a short-term financial solution to meet their capital needs. This kind of loan can allow people to take advantage of opportunities that arise that they may otherwise have to turn down, potentially missing out on some great business prospects. Bridge finance can also be convenient in a financial emergency.
Here are just some of the reasons why people might opt for these kinds of short-term finance solutions:
- Unmortgageable properties – on properties that the buyer is planning to renovate where a mortgage would not be approved due to its dilapidated state.
- Securing a property – to help people purchase residential or commercial properties before selling their old one.
- Auction – for people purchasing property at auction, allowing them to complete the transaction.
- Cash flow cover – for borrowers needing a quick injection of cash.
- Renovation – for those wanting to renovate a property or develop a piece of land.
- Raising capital – bridging loans can be secured against land or property so businesses can raise the sums of money needed.
- Business obligations – for those needing funds to meet their business obligations, making payments or overcoming financial difficulties.
For most businesses, a bridge finance is used at a time when there is a temporary cash flow issue or a financial deadline. In such cases, access to bridging finance options provides a solution to rectify these problems. Send a Loan Request Form to info@crownfinancial.co.nz.