BloomSmith Launches Automated Eligibility Checker Amidst Market Growth

Posted by BloomSmith on 11th October 2023 -

The leading real estate VAT bridging loans provider BloomSmith has announced the launch of an automated eligibility checker, as confidence continues to rally within the commercial property sector.

Introduction of the VAT Bridging Loan Eligibility Checker is designed to empower property investors and developers by enabling them to confirm if they qualify for a VAT bridging loan in under five minutes.

The easy-to-use tool has been developed as a means of expediting clients’ access to vital short-term funding.

Economic volatility saw the commercial property sector hit a record low in the fourth quarter of 2022, but development activity has experienced a period of sustained growth across recent months.

Users of the eligibility checker are guided through a series of questions that assess if they qualify for a loan, with the process drastically reducing lead times.

Automated application processing means the BloomSmith team can confirm the terms of the loan within the hour, helping them deliver funding within a 48-hour timeframe.

The launch marks a significant milestone in BloomSmith’s commitment to simplifying the financial landscape for real estate businesses of all sizes.

Launching the VAT Bridging Loan Eligibility Checker, CEO Nigel Smith said: “this new tool is an exciting development in our pursuit of a streamlined, democratised approach to accessing real estate finance.

“By eliminating time-consuming paperwork and lengthy eligibility assessments, we are making it easier than ever for businesses to secure the funding they need to meet their VAT obligations, maintain financial stability, and get deals over the line.

“Having seen a significant upturn in funding enquiries since the stabilisation of interest rates, the introduction of this tool will help clients gain even quicker access to our financial solutions.

“There have been many signs of encouragement for the future of commercial real estate over the past month and automating applications is already helping us gear up towards an exciting 2024.”

The VAT Bridging Loan Eligibility Checker is now live on the BloomSmith Finance website and is accessible at bloomsmith.co.uk/check-eligibility.