Commercial Bridge Loans provide borrowers with quick access to cash to cover a variety of expenses, such as:
- Purchasing a new property before selling an existing one
- Completing renovations on a property
- Funding a business expansion
- Meeting unexpected expenses
Here are some of the many benefits of Bridge Financing:
Faster approval and funding process: Bridge loans typically have a faster approval and funding process than traditional loans, which can be helpful if you need the money quickly.
Lower down payment requirements: Bridge loans often have lower down payment requirements than traditional loans, which can make them more accessible to borrowers with limited equity.
More flexible repayment terms: Bridge loans typically have more flexible repayment terms than traditional loans, such as interest-only payments or deferred payments. This can be helpful if you need to conserve cash flow during the bridge loan period.
No prepayment penalties: Bridge loans typically do not have prepayment penalties, which means you can pay off the loan early without incurring any additional fees. This can be helpful if you are able to secure a more favorable loan terms later on.