Bridging finance is typically a type of short-term business loan, usually a term of up to 12 months. It is best thought of as a temporary loan which gets you from and to a brief defined point in time, until you can either clear the loan in full or secure a more permanent form of finance.
That’s where the “bridge” idea comes in – finance to cover a gap for short-term needs.
The bridge is normally in place within 7-10 days.
They differ because a bridging loan is for a specific short term purpose, whereas term loans often have more general commercial purposes. A bridging loan is all about the speed of getting the cash in your account and that is the main difference. It can take weeks for some lenders to complete a term loan, but a bridging loan can be ready within 24-48 hours.
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