Welcome to our latest post where we dive into one of the most frequent questions we receive at Empower Funding: Do we offer personal loans?
It's important to know what financial solutions are available to you, so let's clarify a couple of terms that often cause confusion: Bridge Loans and Personal Loans.
What's a Bridge Loan?
A bridge loan (or bridging finance) is a short-term financing option used when you're waiting for another, often larger, sum of money to come through—like selling your home.
Often, sellers have to wait a few months for the sale proceeds, due to the involved paperwork. Bridge Loans, offer relief by paying you that money early, a lot like an advance on your salary. The loan isn't repaid in installments; instead, it's settled in one lump sum once the funds from the home sale are disbursed.
Bridge loans are an excellent way to manage your finances during transition periods without disrupting your cash flow.
What About Personal Loans?
In contrast, a personal loan provides immediate funds that can be used for a variety of personal needs, from consolidating debt to making a large purchase or covering unexpected expenses.
This type of loan is typically repaid in regular installments over time, making it a flexible solution for ongoing financial needs.
Empower Funding’s Specialty
At Empower Funding, our specialty lies in bridging finance. While we don't offer personal loans, we are committed to your financial well-being.
If you need a personal loan, we won't leave you stranded. Our policy ensures that if we can't assist you directly with your financing needs, we will refer you to a professional who can.
Our Commitment to Your Financial Journey
We're here to guide and support you through your financial journey. If you're exploring your loan options and need expert advice, feel free to reach out.
We believe in building strong, supportive relationships with our clients, and part of that is ensuring you have access to the best resources, even if it's not through us directly.
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Here at Empower Funding, we look forward to assisting you in any way we can!
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Gal Ezra