How a Bridging Loan Can Help with Rebranding
When it comes to rebranding, businesses often have to plan a complete overhaul of their enterprise, from big areas such as moving property, to small areas such as creating a new logo. Often, rebranding needs to be done as quickly as possible in order to avoid disruption and confusion with consumers who are used to an old brand and need to embrace a rebranding in a timely manner. Unfortunately, many businesses cannot evade the financial sum needed to afford everything required from a rebrand in a certain space of time.
That’s where a bridging loan can help.
What is a Bridging Loan?
A bridging loan is designed to assist those businesses and individuals who need the required finances for a certain task that needs to be fulfilled by a specific deadline. It, therefore, bridges the gap between when a company requires the money and when they would otherwise have to wait if they weren’t to take out a loan. Bridging loans are also designed for the larger sums of money that businesses would most often need.
Here, you can learn more about property development finance and how it can assist with your business’s rebranding efforts.
How a Bridging Loan Can Help with Your Rebranding
If your business relies on a specific property, whether it’s an office space or retail store, then a rebranding will require a complete change of appearance and set up of your company. Often, rebrands mean the refurbishment of either a current property which still maintains the old brand or the refurbishment of a new property you’ve sought out for your company’s rebrand.
Bridging loans help you acquire the relevant funds for an adequate refurbishment.
Depending on the area of your business, it may be that rebranding means you need to redesign a product or else produce a redesign for a variety of items such as merchandise, signage, or a new logo. A bridging loan means you can comfortably have access to the funds required to redesign what is needed and apply your new business logo and design to all relevant areas.
A rebrand needs to be shouted about to promote consistency between your old brand and what your business has now become.You, therefore, need to market your rebrand as quickly and officially as possible. A lot of marketing is free, of course, but in order to strive for bigger and better efforts, a bridging loan can help to foot the new marketing bill, especially if your rebrand wants to include a relaunch ceremony or official occasion to promote it.
Your rebranding efforts may call for new premises altogether, whether it’s due to size requirements, a different need from a property, or a different location more applicable to your new rebrand. The money for new premises may not be possible immediately, but it might be essential for a successful rebrand, which is why taking out a bridging loan means you can comfortably attain the premises you need, when you most need it.