What Is The Difference Between Bridging Finance And A Personal Loan?
If you are confused about bridging finance and personal loans and whether or not they are the same thing... don't worry! We are going to clear that up for you in this post!
Let's start with a personal loan.
A personal loan is when you need money for something for yourself completely personal, There's nothing that makes sure that you're going to pay it back. There's no guarantee of money necessarily coming from your side.
You're going to someone and saying "I need R5000, will you give it to me? I'll give it back to you in two months. Please help me out."
Now, bridging finance is totally different!
We do bridging finance for a property that has been sold.
When a property is sold there is money coming because there was a sale, that money is going to come in X amount of time and you just want your money a little bit ahead of time.
That is called property bridging finance and it's what we specialize in.
Unfortunately, we do not do personal loans. However, we can assist you by referring you to a company that will help you.
If you need bridging finance, chat with us!
Learn more about our bridging service here: www.empowerfunding.co.za/bridgingfinance
Contact us at info@EmpowerFunding.co.za or call us directly on 021 140 3540