A Comprehensive Guide To Bridge Loans For Business Owners

 

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Bridge loans are short-term loans designed to help businesses acquire property for a given period of time. People or businesses that obtain a bridge loan to purchase a property usually intend to sell it to a third party or refinance it sometime in the near future.

Here’s a comprehensive guide to short-term bridge loans, with plenty of input from our private lenders in Washington.

1. What are bridge loans?

A bridge loan provides instant cash flow for businesses that need funding that may not be available to them just yet.

Bridge loans usually have a high rate of interest. To get one, you must have a tangible asset to provide as collateral, such as real estate holdings or your company’s inventory of goods.

Unlike many other types of loans, bridge loans can be secured in a short time without needing to provide a lot of documentation.

2. What are the benefits of bridge loans for business owners?

A bridge loan offers immediate access to cash while you are still waiting to secure permanent financing. For example, if you need to start a business venture right away or procure a property quickly, but the vetting process for a permanent loan is still ongoing, a bridge loan can help you finance your project. You can then use the proceeds from permanent financing to pay off the bridge loan.

To get a bridge loan, you do not need to provide extensive documentation, but you will need to show proof of down payment, your business’s credit score, collateral, and previous business experience.

A Person Counting Banknotes
Learn more about bridge loans and other financing solutions with direct lenders in Washington

Are you interested in applying for a short-term bridge loan with a firm of direct lenders in Washington? Check out Global Capital Partners Fund, LLC. Their private lenders in Washington offer many different financing solutions for both small and large businesses.

Their financing solutions for businesses include mezzanine financing, bridge financing, asset-based lending, permanent financing, and structured joint venture financing. They offer bridge financing solutions for different property types, including office buildings, hotels, and shopping centers.

You can reach out to them for queries about their real estate financing solutions. Contact them on their website or give them a call at +1-800-514-7350 or +1-800-207-2666. They can be reached via email at contact@gcpfund.com.

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