Part of the new wave of innovative peer-to-peer lending, SoMo is a specialised bridging lender offering loans for private and commercial purposes
Bridging finance is a highly specialised world, and lenders operating in this sector must be able to meet the intense demands of their clients. SoMo is one of the few lenders in this area which operates as a peer-to-peer (P2P) lending platform, offering bridging loans funded by private investors, and as such it offers a unique borrowing proposition to its customers.
One of the most important aspects of any bridging loan is the speed with which it can be put into place; many bridging providers pride themselves on their ability to finance loans quickly and confidently, thanks to their contacts within the lending community. P2P investment, however, is even faster; loans are approved and underwritten, then made available for investment. Thanks to SoMo’s excellent track record and handsome returns, loans are often topped up extremely quickly, enabling borrowers to get on with their projects with the minimum of delay.
SoMo offers bridging loans for a wide variety of purposes including commercial finance and regulated residential finance. This flexibility allows them to offer loans for almost any situation, so that their customers can confidently secure the finances they need in order to proceed. The speed and reliability of SoMo makes it a top choice for both borrowers and investors across the country.
Your key contacts at SoMo
A bridging loan is a short-term loan secured against property. It allows you or your business to “bridge a gap” until either longer-term finance can be arranged, or the underlying security or other assets can be sold.