Have been in business for app 20 years. We have been presented with a very exciting opportunity. A very well established children’s day nursery (freehold) has been offered to us. We will be new to the industry however have worked alongside for 20 years. We have completed due diligence, valuation and are satisfied. As we are new to the market, finance is proving challenging. We are putting up app 42% deposit on complete deal. We have been in offered bridging finance which would get the deal over the line. We could then refinance in year 2 when we have more experience in the market. What are thoughts on this type of finance, does anyone have experience? Thanks.
What are you actually looking for? The right/best type of funding is dictated by your own business criteria, not by random opinions - and certainly not by APRs.
Bridging finance can save the day, or it can sink the ship. Which is applicable here is dependent on your own individual circumstances...
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