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The Indian consumer market boasts of young buyers who are always on the lookout for ‘buy now pay later’ options while making any big-ticket purchases. As more and more users prefer to buy high-end variants of consumer durables, smartphones, etc, there is a growing need for smart financing solutions that allow buyers to make instant purchases without having to pay the entire value of the product upfront from their pockets.
Medical emergencies, sudden unexpected expenses on the personal front, or cash shortages – can affect all of us at any time. During these challenging times, raising cash immediately becomes a huge struggle for all.
Short-term loans are generally extended by financial institutions for 1-2 years. These are mostly unsecured, which means you don’t have to pledge collateral as security to avail them. Though funds can be extended quickly, the reason why they are labelled “short-term” is the associated repayment tenor (to be paid off in full within 6-18 months) rather than the speed of funding.
There are times when a lot of us come across some unexpected personal expenses for which we may not have enough funds. An instant loan could be the right option in such situations. These are easy to apply online and are for shorter tenure involving quick processing.
Financial emergencies are almost always unpredictable. These can strike anyone at any time without warning. The situation could be even worse if they strike and you don’t have sufficient personal finance to take care of the emergency. Thankfully, with the availability of short-term loans, you can manage the situation relatively quick.
We agree that the need for credit can arise any time. It could be for reasons such as layoffs from employment, medical emergencies, need to travel or to buy expensive gadgets such as Televisions, Mobiles, etc. The reasons can be endless. Similarly, the duration for which the loan is required can also be varied.
What is bridge loanBridge loan is a type of gap financing where the borrower can get access to liquid short-term loans for meeting short-term cash requirements before getting a more permanent source of funding. As the name suggests, bridge loans help in bridging the gap between short-term cash requirements and long-term loans. It is called a bridge loan because it serves as a bridge between two periods of funding, the second one being the more permanent source of funding.
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