We understand that businesses sometimes require quick access to funds to take advantage of opportunities or address short-term financial challenges.
That’s why we offer Business Bridging Loans as an effective financing solution for businesses in need of temporary cash flow support. Our bridging loans are designed to help businesses bridge financial gaps and seize opportunities when time is of the essence.
What are Bridging Loans?
A bridging loan is a short-term financing solution that provides businesses with immediate access to funds to cover temporary cash flow needs.
These loans are typically used to cover expenses while waiting for long-term financing or to take advantage of time-sensitive opportunities. Bridging loans offer fast approval and flexible repayment terms, making them an attractive option for businesses looking to secure funding quickly.
Key features of Bridging Loans:
- Fast approval
Bridging loans have a streamlined application process, which allows for quicker approval compared to traditional financing options. This ensures businesses receive the funds they need in a timely manner.
- Short-term financing
Bridging loans are designed for short-term use, typically with a loan term ranging from a few weeks to several months. This makes them a suitable option for businesses in need of temporary cash flow support.
- Flexible repayment terms
Our bridging loans offer flexible repayment options, allowing businesses to choose a repayment schedule that works best for their financial situation.
- Interest-only payments*
*Some bridging loans may feature interest-only payments during the loan term, reducing the immediate financial burden on businesses and allowing them to focus on their growth and development.
Common uses for Bridging Loans:
- Property transactions
Bridging loans can help businesses secure a property while waiting for the sale of an existing property or arranging long-term financing.
- Business expansion
Businesses can use bridging loans to fund expansions, such as opening new locations, acquiring inventory, or investing in new equipment.
- Working capital
Bridging loans can provide businesses with the working capital needed to cover expenses, such as payroll or supplier payments, while waiting for customer payments or longer-term financing.
- Unexpected expenses
Unforeseen financial challenges, such as emergency repairs or tax bills, can be addressed using a bridging loan, ensuring the business continues to operate smoothly.
How does the application process work?
To apply for a bridging loan through Funding Pool, simply complete our online form. We’ll ask you some basic information about your business, including your financial performance and credit history. Based on this information, we’ll match you with suitable lenders who can provide secured business loans.
What are the eligibility criteria for Bridging Loans?
Eligibility criteria for bridging loans vary depending on the lender and the specific loan you need. Generally, lenders will seek businesses with a solid credit history, adequate cash flow, and a viable business plan. You may also be required to demonstrate the exit strategy for the bridging loan, such as securing long-term financing or selling a property.
What are the interest rates and repayment terms for Bridging Loans?
Interest rates and repayment terms for bridging loans vary depending on the lender and the specific loan you need. Bridging loans often have higher interest rates than long-term financing options due to their short-term nature and the speed at which they are provided. Repayment terms for bridging loans typically range from a few weeks to several months, depending on the loan amount and the lender’s requirements.
How quickly can I get access to funds?
The time it takes to receive funds varies depending on the lender and the type of loan you require. Some lenders may offer same-day funding, while others may take longer.
Ready to apply for a secured business loan?
If you’re ready to apply for a bridging loan, simply complete our online form.
If you have any questions, our team is here to help. Contact us by phone, email, or What’s App live chat to learn more about how we can help your business grow.
