Bridgingloans.com has announced it has received additional funding to its lines of credit from some of the UK's leading banks and financial institutions.
The UK's leading provider of bridging finance solutions said the extension will help the company deal with the 50 per cent increase in enquiries it has received for its short-term finance during the second quarter.
All credit line extensions are from the company's existing relationships with UK banks and further highlight the growth potential of the bridging loans sector.
The current market conditions have led to an increase in the number of opportunities for property investors who have the cash available for immediate purchases, while around 60 per cent of bridges on Bridgingloans.com's books are currently property investors looking for funding to increase their portfolio.
Commenting on the extension, the company's finance director, Ryneveld van der Horst said: "Backing from other lenders is extremely important in tight credit conditions and to maintain business growth. It also builds partnerships with the people you rely on most."
He added: "When many banks and building societies are closing the doors on further lending to both companies and individuals, it is a true testament to our rigorous processes that they have chosen to extend our credit lines."
"We have been working with the banks in question for many years and are delighted that they recognise the long-term potential of this sector."
"In the current financial climate it is vital for the industry as a whole to implement transparent processes - from funding banks to lenders and brokers ."
Bridging Finance Company Announce Extension Of Credit Lines
Financial Services > Business Loans > News
Bridging Finance Company Announce Extension Of Credit Lines
Fri, 04 Jul 2008
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