Tuesday, June 11, 2013, AM | 1 Comment
A bridging loan is a very effective method of dealing with a financial difficulty. But what is it that makes a bridge loan so effective? Read on to find out the top five features that make bridging loans the go to solution for short term finance.
An Ideal Short Term Solution
Bridging loans are appreciated by many for making funds available when there is an urgent need for additional finances. This type of lending must always be backed by a long term solution and a solid source for repaying the full amount of the loan.
Bridge the Cash Gap
When one or more financial transactions rely on each other, there are likely to be some gaps in available funds. For example when buying a new home, you might need the money from the sale of your old property to pay for the expenses of the new one. Instead of letting the entire transaction to fall through, you can use these short term secured loans to get the additional funds needed.
Quick Approval Process
The time you have to wait between applying and getting the borrowed amount is very short. Usually it will take just a few days for the cash to clear. Having quick access is of the utmost importance, especially because most scenarios which require such types of borrowing must be dealt with urgently.
Not affected by a Poor Credit History
You need not worry if you have a bad credit rating. Unlike other types of loans, a poor credit score will not limit your eligibility or make it extremely difficult to receive approval. Lenders are prepared to lend to you as you have to back the loan with some form of collateral.
Super Easy Application
Speed and simplicity are at the core of the loan application process. With all the competition in this market, there are many online loan providers to choose from. An online site is the preferred method of seeking approval for this type of borrowing.
A specialised online lender can often provide a greater level of service than the more traditional route of banks or building societies. One such site can be found at FinanceMyHouse.net. Applying for short term finance couldn’t be any easier. Fill in the short form on the site homepage.
Initially you do need to enter the name of your company, your first name and surname, a home or mobile phone number, and your email address. Then just specify how much you need to borrow and choose how long you want the repayment period to last.
An answer to your application will be sent back to you in around 30 minutes. Visit the website for information on the type of loan services on offer and to fill in your application for a cheap bridge loan.
For the reason explained above, these loans remain ever popular. The next time you are facing some financial difficulties, a bridge loan could be the perfect answer to the problem.Facebook.com/doable.finance