What is bridge financing?
A bridge financing loan is a short term, no prepayment penalty, interim loan. Why use bridge financing? Bridge financing loans are ideal for transactions a) whose previous financing fell through b) needing to close quickly c) soon to be sold or refinanced d) shy of qualifying for long term financing or e) needing additional stabilization. What are the bridge loan terms? Our bridge financing loans are fixed up to 12 months (with a potential 12 month extension) at a fixed interest rate of 9.75%. There is no penalty for early prepayment. We can lend up to 75% LTV, depending on the property type. Which properties are eligible for bridge financing? Office, retail, multifamily, warehouse, light industrial and self storage facilities. Must be an income producing property. Which properties are not eligible for bridge financing? Construction, land, restaurants, bars, gas stations, hotels or properties requiring significant rehabilitation. What are your fees for bridge financing? Our origination
