Bridging lender offers new assistance for SMEs

Bridging lender offers new assistance for SMEs




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According to short-term finance specialist Bridging Finance Limited, small and medium sized enterprises (SMEs) are still stretched to the limit as a result of the economic downturn. 

Cash flow is one of the main causes of anxiety for SMEs. Although the situation appears to be easing, many businesses are still struggling to secure the backing of traditional lenders, pushing their resources to the limit.

 

This is evidenced by a statement from the UK Insolvency Helpline, which says that more than half of all business failures are as a direct result of cash flow problems.

 

In response to these temporary disruptions to cash flow, Bridging Finance has launched a new product called ‘Cashflow Assist.’

 

Bridging Finance Limited’s director, Chris Baguley, has commented: “Whilst a business may have traded for many years and be totally viable, the current lack of funding options has led many to fold unnecessarily when a short term injection of cash could have saved them.”

 

The Cashflow Assist product will be available as a first or second charge loan secured against residential or commercial property. 

 

Mr Baguley added: “Even for those businesses with a positive cash flow, the lack of funding from the mainstream lenders can be a barrier to growth, but a short term injection of cash can help them to invest in the future of their organisation.”

 

Terms are for ‘Cashflow Assist’ are flexible up to 12 months with no minimum period, and Loan to Values are available up to 100 per cent subject to a comfort charge against additional security. Rates are dependent upon borrower circumstances.

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