Commercial Property Bridge Loan
“Commercial Property Secured Bridge Loans”
When someone needs capital for a short period of time, one solution can be to get a commercial property bridge loan if you have equity in commercial real estate that you can leverage.
The use of funds do not have to relate directly to the property such as a purchase, refinance, or investing in some type of improvements.
The funds can be required for just about anything. The key is that commercial real estate property is being provided as security to a lender.
Some of examples where a short term loan is required is 1) someone needs to close a sale quickly, 2) a business has an order they need to fill and need to supplement their working capital to get it completed; there is some sort of cost that someone is trying to avoid by having capital provided on time within the parameters of an agreement.
The financing amount is typically $500,000 or higher and the money is required quickly, or more quickly than can be arranged through a conventional bank.
When individuals or businesses come to us with this type of financing request, we arrange financing through our private lender net work and work towards getting the financing in place right away.
One of the benefits of this type of commercial mortgage financing is that the loan is fully open for repayment. So as soon as the need for funds has passed, the principal can be repaid right away without penalty or further obligation to the lender.
Bridge loans can be for several months, up to a term of 2 years for the most part.
In some cases, funds may only be required for a couple of weeks to close a transaction and the proceeds from the transaction will in turn be used to repay the loan.
How Quickly Can A Commercial Property Bridge Loan Be Put Into Place?
When we get bridge financing inquiries, one of the first questions we get asked is how long will it take to get a short term loan in place?
Depending on the situation, the faster placements are in one to 2 weeks. On average, we can get funding completed from the time of application to cash advance in 2 to 3 weeks.
Part of the speed to getting deals in place is the getting the deal assessed quickly and immediately matching up the deal with an interested bridge lenders so most of the time is spent with the closing process.
If you’re looking for short term capital and have equity in commercial property to leverage, then I suggest that you give me a call so we can quickly go over your situation on the phone and provide options for your immediate consideration.