Thinking About a Bridging Loan – Here Is Why It Is The Right Choice
It doesn’t matter if you are a business person or you are a stay at home parent taking care of the house and taking care of the children. There will always come a time when you are short on cash and you might need it to buy some stock at a ridiculously reduced price or you might need to buy a new washing machine because the old one has packed it in. Whatever your reasons for needing some money in your wallet or purse, it is incredibly important that you have options so that you and your family don’t miss out on what you need. It would be incredibly frustrating as a business person to not be able to take advantage of the fantastic deal where you are able to buy stock at 50% of the usual price. This is when you’re probably thinking of some kind of loan to get you to the next point when you are expecting a cash top up from your salary or from your housekeeping.
In situations such as these, you want to be able to get the money quickly and you don’t want the process to be too complicated and so this is why a bridging loan from Ascot Bridging Finance is the right choice every single time. The reason for a bridging loan is that you only need the money short-term and it helps to plug a gap in your current finances until you are able to top it up later. If you’re still not sold on the benefits of such a loan then maybe the following benefits can help you to make a smarter business decision and life decision.
Read Also: Factors to Consider When Getting Bridge Loans
- Easy and quick access – In a number of cases, you can apply for your bridging loan using online methods and this means that you don’t even have to leave your office chair or your sofa in order to make the application. Many decisions for a bridging loan are made within two days and when you compare that to other loans that are currently available, there really is no comparison. When applying to a bank or building society for a mortgage, a credit builder card or a standard business loan, it can take forever for the application process to happen and even then you can’t be guaranteed a positive outcome.
- Less paperwork – It is everyone’s fear that if they apply for any kind of business loan that they are going to be asked to produce paper after paper proving that they have a job, that they have money in the bank and that they can pay back the money in the required time. This makes the whole process incredibly difficult and so these service providers are aware of that and so they will provide you with your bridging loan with the bare minimum of paperwork.
The real advantage of this particular type of loan is that you can pay it back in a short period of time and that means that you’re paying less interest. It is important that you are aware of the payment structure so that you are clear on how much and when the money has to be paid back.