Is Bridging Finance A Good Idea?
Should you just wait it out? Or should you get paid out a little bit ahead of time?
Let's take an example. Let's say you are going to earn R100 000 from the sale of a property and you want R10 000 paid out today. For R10 000 bridging you will pay R10 per day. Let's say you need the money for about 60 days. So that would be R600 total that you would owe us in interest. The total that we would get paid back is R10 600 but you had your money to use for other things.
So out of your R100 000 you now have paid us back R10 600 and you are still left with R89 400 that you were going to get anyway. You just paid R600 to not be stressed, to be able to spend the money, to pay for your debit orders, to support your local businesses, whatever the case may be.
Now, on the other hand, if you could wait it out, and you didn't need to get the money right away, then sure you might not need bridging finance. However, if you do need it, the cost is relatively low out of the amount that you're going to get. So then it becomes a good idea because you do want the money and the bank won't give you money ahead of time. If they do, it's a very long process. Whereas with Empower Funding, it takes a very short time, usually under 24 hours once all the paperwork is ready.
And that's what we're here for, to help you and the many, many other people that we've assisted, giving you an affordable rate and making it actually a good idea to get the amount of money that you need now.