Bridging finance is a concept that has been well established and readily available for many years. Where a business has a very solid balance sheet and a strong case for funding then the Main Banks will normally consider such a loan as part of an overall lending package. Until recently anyone with a less sound case has been obliged to approach one of the ‘specialist’ Lenders, of whom there are a fair number. The ‘products’ offered by these Lenders are many and varied. One particular benefit is that their decision making process tends to be very quick.
Another is that some of them will look at high risk cases which normal Lenders would not touch. The disadvantage is that their rates tend to be very high (typically as much as 1.5%/month). Another is that there are often heavy penalties should the bridging requirement run over the agreed time limit (not unknown with development projects).
Finding alternative sources of Bridging Loans in Northamptonshire
Our experience at Business Finance Services is that there are an increasing number of new Lenders who are entering into the Bridging market in Northampton and, indeed, the rest of the UK. Some of these have what are, effectively, new variations offering increased flexibility without all of the penalties imposed by the more traditional Lenders. In some cases they also offer better rates for the less secure Bridging loans.
At BFS we have such a wide range of contacts within the Bridging Finance Industry that we can often arrange funding solutions that our clients were completely unaware existed The trick is to know who they are and how best to deal with them. In our experience many business managers/owners spend an inordinate amount of time trying to solve the problem of where to find Bridging Loans and other commercial finance. Our advice is, “don’t let it become a problem, ask us for help”. We can step in at any stage to save you time and money.
Finding Development Finance in Northamptonshire
Development finance isn’t as difficult to obtain as you might think in Northamptonshire. The Directors of BFS have backgrounds in commercial lending and in running small businesses so they have an understanding of the problems involved. They fully comprehend the challenges which businesses face, so they’re in a strong position to provide the right financial advice and support. If you want to talk to us about the services which we offer, whether that be arrangement of a development loan or Bridging finance to cover a funding gap, call us. We’ll listen to what you need, and offer advice based on your individual circumstances.