Business requires investment at all levels for its growth and development. If you require instant finance to start up or complete a project, commercial bridging loans are an ideal solution for you.
Commercial bridging loans are specially designed for entrepreneurs to cater to the financial requirements that may arise while buying a commercial property.
Commercial bridging loans are secured loans. This implies that they require the entrepreneur to place collateral against the loan. The new property that is to be purchased can be used to secure against the loan. Besides this, the borrower can also place the machinery or any other residential or commercial property as security.
As commercial bridging loans are short term loans, therefore the lender usually charge a higher rate of interest. Many lenders often increase the interest rate by half a point or more. Other factors such as the credit history, the liquidity and value of the collateral placed are also helpful in determining the interest rate.
The borrower has to pay the interest rate till the time he does not sell the old property. Once the property is sold he can return the principal amount to...
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