390k Bridging Loans – Get a Quote Now
A 390k bridging loan is a practical short-term finance option tailored for SMEs in the UK. It effectively "bridges" the gap between a pending financial obligation and the main line of credit becoming accessible. These loans are typically secured against property and are vital for addressing temporary liquidity needs, capitalising on opportunities, or fulfilling immediate financial commitments. For more insights, explore our detailed overview on bridge loans.
- Quick and easy application process
- Loan disbursed within 24 hours
- No additional charges for early repayment
What are the benefits of 390k Bridging Loans?
Bridging loans provide quick access to significant funds, offering flexible use to suit business needs. This supports continuity and allows you to capitalise on opportunities effectively. With borrowing amounts ranging from £25,000 to £250 million, and typical funds available within 14 to 28 days, this solution is both comprehensive and swift. To see our offerings, check tailored options for small businesses.
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What are the different types of 390k Bridging Loans?
Closed Bridging Loan
Closed bridging loans require a clear exit strategy - like a confirmed property sale - and typically range from £25,000 to £250 million. With terms of 1 to 12 months, and rates from 0.4% to 1.5% monthly, these loans are ideal for securing a new property before an existing sale. Learn about these loans at bridging loan details.
Open Bridging Loan
With less rigid criteria, open bridging loans suit those without a definite exit plan but who possess substantial collateral. Amounts range from £25,000 to £5 million, with flexible terms up to 12 months and rates between 0.6% and 1.65% per month. Explore options here.
Development Bridging Loan
Development bridging loans support property refurbishment, requiring detailed development plans for approval. Typical amounts range from £100,000 to over £5 million, with terms of 6 to 24 months. Read more about these loans.
What is a 390k Bridging Loan?
Application Processes
Applications for bridging loans often involve submitting detailed exit strategies, collateral assessments, and compliance with the FCA guidelines. Decisions range from 24 hours to several weeks, depending on clarity and complexity. More about the application can be found here.
Regulatory Compliance
Bridging loans must adhere to FCA regulations, especially with private individuals under the Consumer Credit Act. It is crucial for lenders to inform clients about risks and costs involved. Understand these guidelines at our compliance guide.
Borrowing Capacity and Rate Information
The lending capacity on bridging loans ranges considerably based on collateral value and borrower profile, with interest rates between 0.4% to 1.65% monthly. Decision speeds are tied to application completeness and legal complexities. Explore more details on borrowing options.
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