CBL now offering commercial bridging loans
Midlands based lender, Central Bridging Loans, has launched a new commercial bridging loan product to its already extensive range.
The loan size on the new product is £100,000 to £2m with rates charged from1.25% pm. It is available up to 65% LTV and is designed to finance transactions that involve all types of commercial property and have a credible and robust exit strategy.
The product has been designed in direct response to CBL’s recent survey of brokers, where almost 20% of those who took part cited commercial lending as an additional product they would like to see offered.
Chris Wilson, Director at CBL, commented:
“We listened to our customers and have responded with the launch of our new commercial proposition. CBL are keen to let commercial developers and investors know that we have a huge appetite for lending in this market and have the funds and infrastructure to do so.”
The loans are available up to 12 months and can be used for any legitimate business purposes including:
- Auction Purchases
- Refurbishment Deals
- Release from Insolvencies
- VAT on purchases, pending it’s reclaim
And with a promise of fast turnarounds and a guarantee of being able to speak to a decision maker, this is welcome news indeed for the commercial sector.