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We do loans up to R4 000

Need a short-term bridge loan? Talk to Budget Cash!

As one of the most versatile loans available to the public, a bridge loan is designed to be used during those times when your finances are just that little bit too stretched. We’d like to be positive and say that times are getting easier, but as you are well aware, with VAT and other tax increases, chances are your belt is far tighter than it once was.

It is good, however, to know that you have options, like bridge loans.

A bridge loan is one of those financial lifelines that you can grab a hold of when the ship starts feeling little unsteady. We’re all going to go through a financial rough patch in our lives at one point or another, but it doesn’t mean that we have to face financial setbacks or ruin simply because a few months don’t go according to plan.

This is where a bridge loan might well be one of the best loans you could lean on. A bridge loan does what its name says, it creates a stable financial bridge during tough times. When you run short of cash or meet an unexpected constraint, a bridge loan will provide you with that little bit of cash needed to tide you over until the next month. Generally, a bridge loan is a short-term loan but depending on who you are taking your loan from, there have been instances where the loan has been paid back over a longer period.

More than another Personal Loan

The flexibility of these loans means that the loaned money can be used for just about any need. From covering personal month to month expenses to paying for the excess of an insurance claim or even using the loan for business purposes, a bridge loan could be the ideal loan for you.

The downside of this kind of loan is that it does not give you access to big amounts. Instead, the bridge loan is generally reserved for those smaller payments and expenses that you just cannot cover this month.

One thing to consider when looking at this kind of loan is the interest. Because of its short-term nature, you might find that the interest is a little higher than you expected. A higher interest rate is just for security purposes. A loan company takes a risk when approving loans so they want a little backup should you fail to make a full repayment. Despite this factor, there are good reasons for relying on a bridge loan.

Those who have been blacklisted and need a loan can usually catch a break with a bridge loan. As these are small amounts being loaned, while there is a risk, it is not the kind of risk that could sink the loan company.

The other way that you can really benefit when applying for a bridge loan is that the loan usage can be flexible. You are not constrained in any way when it comes to how you use the money. This is unlike consolidation loans or home loans where the usage is very much specific.

Before you apply for a bridge loan be sure to talk to the loan company’s consultants. You don’t want to be taking out the wrong kind of loan when there could be a better option waiting for you.

Some of the Uses of Bridge Loans

As we’ve mentioned, a bridge loan can be used to cover just about any expenses, both unexpected as well as those you know are coming but are simply without money to cover them.

Here are some of the other helpful uses that some of our clients have used bridge loans for:

  • School fees
  • Medical expenses
  • Insurance excess fees
  • Improvements and/or alterations to the home
  • Paying for a wedding, or paying certain aspects of the wedding
  • Weekend holiday

Why are More People Opting for a Bridge Loan?

Bridge loans are fast loans. It takes a few minutes to fill out the application form, and as per procedure, one of our consultants will have to do a quick background check. Once your application is accepted, the money will be in your account within minutes.

This is one of the biggest reasons why people choose the bridge loan.

Here are the other benefits:

  • You can apply for the loan online
  • You can apply for this loan even if you have a less than perfect credit history
  • Our loans are secure and regulated by the National Credit Act
  • You will not need to offer collateral on your loan
  • Repayments can be flexible, depending on the agreement you have with your credit provider.
  • Finally, if you get your loan with us, you can expect the most competitive rates

Even if you have been blacklisted, we welcome you to apply for one of our loans. Bridge loans could be just what you need. Contact Budget Cash today to find out more.