BRIDGE & HARD MONEY LOANS
As a small business owner, we know you’ve got growth on your mind. Waiting on a loan from a traditional bank, however, can slow your progress. Our lenders have streamlined the approval process so you can have cash-in-hand quickly.
What Are Bridge & Hard Money Loans?
Bridge loans are the ideal way to get fast financing for projects you want to get started on right away. They’re short-term loans that bridge the gap between the action you take today and when long-term financing comes through. This way, you don’t have to wait months to put your offer in on new real estate, bring in essential equipment, or restock supplies.
Hard money loans are loans that are secured on an asset. For example, you can get a hard money loan based on the value of equipment you have in operation. Say the equipment is worth $200,000 and you need money for a special project. Instead of selling off the equipment, one of our lenders will offer you a percentage of its value – say 70%. You then get $140,000 in cash immediately to fund your project.
Local
With a local touch, but a national reach, we connect you with the right resources to grow. Many of our lender connections are within our region, and we’ll provide you options by connecting with lenders from across the country. We will provide you the service and commitment you’d expect from any business in our community.
Fast
Get your loan approved in less than 24 hours. Traditional banks have to operate under substantial restrictions. Private lenders don’t have these same requirements, which means they can process your application in less time.
Reasonable
Utilizing a broad network enables us to connect the right lenders to the right businesses. We’ll shop around for you until you have a lender with the best rates. This saves you money on the loan and lets you keep more of the profits from your investment.
ADVANTAGES OF
BRIDGE & HARD MONEY LOANS
- Be competitive with cash buyers in real estate markets.
- Move ahead with projects quickly while you wait on long-term funding.
- Leverage the value of existing assets without having to let them go.
- Lenders offer lower rates and better terms on loans that have been secured.
When is a Bridge or Hard Money Loan not a good fit?
If you’re not in a hurry and can qualify for long-term financing, let us help you find a loan that’s more in line with your goals. Most hard money and bridge loans come with higher interest rates because of their short repayment schedule.
When can I get the money?
Depending on the option you choose, some lenders can approve your application in 24 hours. So, you could have cash the day after you apply. Compare that with the weeks you might be waiting for a traditional bank loan.
Do I need perfect credit?
No. Hard money lenders use the value of your assets, not your credit rating, to determine how much to lend. You may also need to show your business’s ability to repay by providing copies of financial records like tax returns.
What can I use a Bridge or Hard Money Loan for?
Once you’ve secured funding, you can use it for any legitimate business expense. This can mean real estate, construction, equipment, or working capital.