FR: Why did you set up Positive Bridging Finance?
PBF was set up as our dedicated Bridging Finance arm following a significant growth in enquiries and applications. With the quantity of business we began to handle it was necessary to have a team solely handling bridging cases.
FR: What does PBF offer investors?
Access to the whole of the bridging finance market, including a wealth of private funders, some of which most other brokers do not have access to. We take the headache out of searching through the vast array of options and will establish the most appropriate options almost immediately.
FR: Why do you think the bridging market is growing at such a fast rate?
Bridging is now widely accepted and is a very useful tool for property investors & business people, amongst others. With very little lending activity from the high street banks, and a lack of liquidity in the economy in general, such alternative sources of funding have to be considered.
FR: What are the pitfalls of bridging for investors?
It is of vital importance to have an exit strategy, otherwise a bridging loan can be very expensive. Being of a short-term nature, a bridging loan needs to be redeemed as quickly as possible. It is also important to use a broker who truly knows the lenders’ strengths and weaknesses, and can then advise accordingly.
FR: Why are so many SMEs using bridging finance?
Many of our clients have had overdrafts removed, facilities tightened and even loans called in by their business bankers. Bridging finance gives breathing room to make alternative arrangements, and can be used as an “ad hoc” facility, as and when required. As the high street banks shy away from speculative property purchase and investment, bridging finance lenders open their arms and welcome such activity.
FR: If you weren’t in financial services, what would you be doing?
I used to be in a band which I have fond memories of, so I’d like to think I would be on tour somewhere around the world….
In 2007 John set up Positive Commercial Finance to signal his intent in the finance world and began marketing his proposal to developers and investors throughout the country. Later, in 2010, Positive Bridging Finance and Positive Development Finance were established, with the different “departments” specialising in each area in which their expertise now lies. They now have a vast array of lenders to call upon to cover any viable proposal. Their panel consist of institutional lenders, second tier lenders, private banks and private individuals.
