Bridging Finance

A simple short term loan, designed to bridge a gap of cash going out and coming back into your business.
Whilst a little more expensive, they can be fast to set up - a good option to consider for a quick injection of cash if long term financing isn't yet preferred or available.
1. Complete applications with lenders that are right for your business, and are likely to approve you.
2. Once approved, drawdown funds and us them however needed for your business.
3. Repay the loan with interest, over the agreed period.
See how Bridging Finance might work for your business - speak to NorthFunding today.

Bridging Loans

Bridging loans do what they say on the tin, they help bridge gaps for businesses with funding, until repaid, or until longer term financing is confirmed.

Typical funding amounts?

£50,000 - £10,000,000

Repayments & Fees?

APRs vary but are often higher than other secured forms of lending because of the flexibility and speed bridging loans can offer.

Interest can be serviced monthly, but is often retained (sometimes known as being rolled up) to the end of the term to be paid down in exiting the bridge, through sale of the asset or refinance of the facility.

Terms are typically 12 months but can vary from 3-36 months with some lenders.

Eligibility & Security?

Bridging loans are generally higher risk for lenders, so will require strong financials and track record.

First or second legal charge will always be taken over properties for Bridging finance, whether it be commercial, semi-commercial or residential.

Director Guarantees may also be required, and Company Debentures are usually required where the deal is through an incorporated company.