Bridging Made Easy
Bayside Finace Solutions provides bridging finance in a variety of transactions. We are always looking at new ways to close the gap within your transaction.
Do you need to bridge the gap in financing, whatever the reason?
The solution could be to apply for a bridging loan, which is a form of short-term finance. It’s an advance or loan you get on money due to be paid out to you soon. A type of secured loan, so you will need to own property, land or some other similar high value asset to access them. Basically you need an exit route, a way of paying back the loan.
In the past only large South African banks and life insurance companies used to offer bridging finance that were typically long-term loans, lasting between 5 and 30 years but today other financing companies, like Bayside Finance Solutions specialise in these type of loans.
Bridging finance is often used to support an individual or a business for a period of time with their need for funds. The intention with a bridging loan is to to bridge the gap between making a purchase and other funds becoming available, affording individuals and businesses more options when in need of bridging finance.
Bridging loans are usually offered for between 1-18 months, with the loan repayable in full at the end of the decided period of time.
Interest rates and loan fees are higher, but these costs are offset by the speed and ease at which they can be obtained.
Qualifying for a loan from Bayside Finance Solutions is dependent on factors such as (a) the amount of security you have, (b) the loan to value ratio (c) proof of a clear exit strategy and (d) your credit score and ability to repay. Each application is considered on a case by case basis with security/collateral being the most important criteria
How long does it take?
Advantages of taking a bridging loan with Bayside Financial Solutions
It happens quickly, usually within 48 hours, once your consulting agent at Bayside Finance Solutions has completed some checks, property valued, documents signed, we transfer the money into your account.