For many reasons, a property development bridging loan is useful for developers. Read the reasons below -
- Acquire funds quickly - The bridging loan procedure is short and uncomplicated. It is an instant source of funds for the property developers until they gather the larger amount for a project.
- Attainable despite bad credit score - Yes, bridging loans are attainable with a poor credit score. If the repayment capacity of the developer is reliable to the lender, loan approval happens immediately.
- Grab profitable investment opportunities - With instant availability of funds through bridging loans, a developer does not need to miss investment opportunities. It is why these loans are sometimes called last-minute saviours.