The term ‘bridging loan’ refers to a short-term loan that is required to meet an immediate expense, and there are many reasons why a person might consider taking out a bridging loan. It might be needed until a property sale goes through or possibly for immediate business expansion that can’t wait, and here are just a few of the other scenarios that would result in you needing a short-term loan.
- Contract Fulfilment – If a company has landed a big contract that guarantees a sound profit, they might require additional funding to drive an expansion, and with the guarantee of the contract, the online lender of bridging loans can help. Once you have secured a long-term contract, most lenders will look on this favourably and see this as a form of guarantee for repayment.
- Replacing your Car – A person might have their car up for sale, but in the meantime, they have found the ideal replacement, and with a short-term bridging loan, they can buy the new vehicle, even though their current vehicle has yet to be sold. If you need a short or long-term loan for any reason, there are Australian online lenders that have a range of loan packages that are very interest competitive.
- Real Estate Deposit – Your property is on the market, yet you have already found your ideal home and would like to put down a sizeable deposit to seal the deal, which can be done by taking out a bridging loan with a leading Australian finance company.
- Business Start-Up – You may have wealth that is tied up and rather than paying the penalty for early withdrawal, it would make more sense to apply for a short-term loan. In some investment cases, one must give at least 90 days’ notice of a withdrawal, and if you are in need of some start-up capital, talk to the online lender, who will give you an answer within minutes.
- Medical Bills – Accidents can happen at any time, and if you are facing a sudden medical bill and aren’t able to meet that, search online for a short-term loan specialist. You might only need the money until your insurance pays out, and with competitive rates of interest, you can keep everyone happy.
The online lender is fast, efficient and very accommodating, so if you are ever in need of a short-term loan, Google is your best friend.