When a borrower wants to arrange a bridging loan quickly, a smaller lender may be able to act more quickly than larger ones.
A bridging loan is often required for time-sensitive deals, which could fall through if funds are not available quickly. Some experts have argued that smaller bridging lenders are more agile and can releases funds quicker.
The first part of the bridging loan application process is to have a confirmed loan offer. Approval of loans is usually done by a credit committee. Smaller lenders can convene committee quickly and speed up the loan review process.
In small organisations, there is a more direct route to key decision makers. Bridging loans are often for complex projects and it can take time to sort out loan details. A small finance lender has shorter lines of communication and this can help when different experts need to get together to discuss complex issues.
Some large lenders have strict lending guidelines. A small lender may be more flexible and look at each application on a case-by-case basis rather than apply fixed lending criteria.
Smaller lenders are often very responsive, prepared to discuss issues both in and out of normal office hours. Some small lenders claim that by having a close efficient team, they can process applications within 10 days.
A good bridging finance broker is valuable if you need a bridging loan quickly. They can find a lender, large or small, that can provide a fast service.