Bridging Finance

Whoops! I’ve done it again

After the season of merriment and good cheer comes settling bills for credit cards, HMRC and accountants. Quite a few owner managed businesses do not set aside sufficient money to pay their January tax bill and suddenly need money in a hurry. With HMRC not being so obliging with delayed payments these days, short term finance will be needed more often.

“Bridging finance is expensive” – Is it really?

Of course, short term lenders charge a higher rate of interest than long term lenders and when you add their (normal) fees, valuation fee, legal costs etc, the cost of short term money over that period looks high.