Legally binding document which obligates a specific value of funds available for disbursement. The amount of funds disbursed is to be repaid (with or without interest and late fees) in accordance with the terms of a promissory note and/or repayment schedule.
 

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Bridging Loans For Commercial Use.
By Tom Sangers-10061
What are Bridging and how they can be used.

At General Finance Centre, we offer our clients flexible finance solutions to our customers, so they can secure the business premises they need with the commercial Mortgages which is right for them.

On occasion, we can also offer business finance for 100% of the purchase price (or 80% of the property value ,whichever is lower) in the form of a closed commercial bridging loan. Closed bridging loans can obviously only be offered to those applicant who have exchanged. We can also offer open commercial bridging loans (available before completing) for up to 75% of the property value.

Bridging is a type of that is used to cover shortfalls between buying one property and selling another; or to cover businesses between funding shortfalls.

A good example of when you might need a bridging would be if you're poised to buy a new property but are let down on the sale of your existing one. therefore to buy the property or commercial property you are looking for you will often need a Bridging to cover the time period from selling your first property.

It's basically a very short

   

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