Common misconceptions about bridging finance

Common misconceptions about bridging finance

Founder and CEO of Capital Bridging Finance, Damien Simonfi shares common misconceptions about bridging finance. As a flow on from the Royal Banking Commission, it’s harder for businesses and individuals to access funding. Capital Bridging Finance provides loans faster than any other major or private lenders and solves challenges faced by businesses and individuals.

  1. Hidden fees
    Working with Capital Bridging Finance, you’ll have an indicative offer over the phone in minutes. Your clients will know how much they need to pay upfront with a competitive interest rate and a modest inspection fee. As a boutique provider, loans are tailored to client’s unique circumstances, for example there’s no early exit fees if a client can pay back their bridging loan earlier than expected.

 

  1. Bridging finance is costly
    Some borrowers perceive bridging finance as costly, however it’s a smart solution for a range of short-term finance problems. Capital Bridging Finance offers interest rates from 1.5% per month which is very competitive compared to other bridging finance providers. Bridging Finance helps clients to solidify their position until a longer-term strategy can be implemented. Funding at crucial times helps businesses to be more profitable in the long term. For example, to take advantage of investment opportunities, access cashflow, pay off an unexpected ATO debt, complete renovations or finalise a construction project. Clients are provided with customised solutions that other lenders are unable to provide which helps them to achieve their financial goals.
  2. Time consuming to apply for
    When you give the team at Capital Bridging Finance a call, you are speaking directly with a decision maker who will approve your client’s application. This means you’ll have quick access to funding when its needed most usually within 48 hours. At Capital Bridging Finance, each application is approved on its own merits in accordance with commercial and practical policies. Capital Bridging Finance removes red tape and thinks outside the square to fund clients faster than major banks.

 

  1. Only available if you have a positive credit score
    If your clients have a credit score which is subpar, it can make it difficult to qualify for long-term finance. However, Capital Bridging Finance reviews the client’s assets and collateral to determine if they can pay off the loan. Once short-term funds are repaid by your clients this helps to boost their credit score and opens up longer term finance opportunities. Capital Bridging Finance provides funding for personal, business and investment opportunities when getting funding through banks takes too long.