Bridging loans can provide an invaluable source of funding to business owners looking to improve or expand their company.
The finance can cover the cost of property purchases or land, as well as help with cashflow.
This also applies to the farming industry. Bridging loans can help you take advantage of new opportunities by making sure there is a fast turnaround.
They can also provide funding for any legal purpose, giving you the chance to revive and expand your farming business, ultimately helping to increase profit.
Purchase farm property or land
If you need to buy extra farmland or commercial premises to expand your business, a bridging loan can finance the purchase until you are able to secure more permanent funding. It may not be possible to secure a mortgage if the property is uninhabitable or does not fit the lender’s criteria. Alternatively, you might want to buy land or property at auction but could have problems getting a mortgage in the 28 day time frame. A bridging loan can help you get the money you need on time.
Invest in new machinery
Farming equipment and machinery needs to be updated from time to time and can prove costly. If you need money quickly, you can take out a bridging loan to ensure you maintain high standards throughout the business.
Whether you’re interested in a barn conversion or you want to refurbish property that is in poor condition, getting a mortgage can be tricky. Bridging finance can help cover the renovation costs until it is done up to a suitable standard. You can then arrange a mortgage or longer-term funding.
If you need to inject some cashflow into your farming business, we can help. We can organise a bridging loan tailored to your needs so your business needn’t suffer. We understand time is of the essence, therefore we aim to have funds released to you within a matter of days.
How we can help
We specialise in bridging loans and short-term finance. As we are not tied to a specific lender, we have access to a wide range of deals and rates. Contact us today and speak to one of our expert advisors who can talk you through the process.