When long-term funding is not yet available, bridging loans for business can be the perfect short-term solution.
Although perceived as expensive, if they enable a purchase to proceed they can in fact save money – and may even enable you to buy it at a favourable price by doing so.
Bridging loans can also be used to finance property conversions and improvements in the short-term while more permanent funding is arranged.
Bridging loans for business
Terms for bridging loans are usually up to two years, but can be longer in exceptional circumstances. Loan to value (LTV) is typically 70%, but again can be higher with additional security.
RedSky has access to a number of specialist funders offering bridging loans for businesses against commercial properties and land. New funders have also come to the market over recent months, including peer-to-peer (P2P) investors.
Urgent funding applications
Our experts also have access to high net worth individuals who can make decisions and act very quickly to fund urgent requests. We have outstanding connections with other professionals, including specialist solicitors, to ensure the process
Depending on the source, we can arrange bridging loans for business within just a few days of the request. In a situation where speed is of the essence, this can mean the difference between a successful deal and none at all.
Short-term finance for business
Projects which we have supported by arranging bridging funding include:
Purchase of a hotel to include renovation costs
Buying commercial property at auction pending long-term finance
Purchase of agricultural land and buildings pending a long-term funding package being put in place
Buying land for a commercial unit to be built pending long-term funding
Purchase of an auction property to be renovated and sold
I suggest stop looking at your typical high street banks and try Paul straight away. Saved me lots of hassle and head ache and manage to get me a loan middle on the pandemic and 2% cheaper to the closest competition. His not your typical 9 to 5 office worker sometimes we were exchanging emails at 9pm he was always available to talk and not once we felt he wasn’t the right guys.
Paul at RedSky provided an excellent and friendly service to source and successfully apply for a loan for my client. Despite originally being refused a loan by their high street bank Paul managed to get us an acceptable alternative at good rates. - I would not hesitate to recommend Paul and his team to anyone looking for funding.
From the start of the process Andy was fantastic in arranging finance for our business. He kept me updated with progress all the way through keeping the stress levels to a minimum, even when he was on a weeks holiday. I wouldn't hesitate to use their services in the future.
Fantastic service from the minute we spoke to Martin Bell - personable pragmatic and he managed to get a great deal on our business development finance - wouldn’t hesitate to use again or recommend to others
Myself and my husband have been supported by RedSky for over 15 years in our Hi-tech engineering business and we simply couldn't recommend them enough. They will always go the extra mile and beyond and will only find a solution that is totally right for your business, never simply for their gain. Integrity is absolutely paramount for them. They are able to look at the whole of the market for your business solution and are at the forefront of everything that is happening in the business funding world and solutions for SMEs. They really do care about your business.
Gareth at Red Sky understood my business and my funding requirements quickly, he was a pleasure to work with and secured the funding I required. I highly recommend Gareth and Red Sky. If the need arose I would turn to Gareth and Red Sky without hesitation
Without Redsky our business wouldn’t of even got off the ground. Gareth was fantastic in putting our business plan together and doing all the paperwork. We can’t thank you all enough hopefully you can change our life’s. Thank you