How a Bridge Loan Can Help With Your Short-Term Financial Needs
When you see a piece of real estate you want, you don’t have time to wait for a standard loan. The commercial real estate market is fast-paced, which means you need to come up with working capital right away if you want to obtain a piece of property before the opportunity passes you by. Fortunately, Freeman Commercial Lending offers bridge loans that give you almost immediate access to the cash you need to purchase the property you want.
A bridge loan is similar to a hard money loan in some ways, but different in others. Like a hard money loan, a bridge loan is typically arranged on a short-term basis. Unlike a hard loan, though, a bridge loan is almost always used to fund a property while another property is in transition. So, if you want to purchase a property but don’t have time to wait for your current property to sell, a bridge loan can tide you over until you can pay it off with funds from your current property once it sells.
Benefits of Our Bridge Loan Program
When flexible financing and immediate funds are required, our bridge loans are the perfect solution. They come with the following terms and benefits:
- Low, variable interest rates
- Terms up to 12 months or longer
- Immediate funds
- Flexible repayment terms
- Ability to purchase property quickly
- Quick loan processing time
Depending on the value of the commercial property you’re purchasing, the interest rate of your loan could vary from 9% to 14%. We’ll work with you to structure the most advantageous loan profile for your needs.
Contact Us Today
There’s no need to miss out on a great real estate opportunity because you don’t have time to wait for slow traditional loan approval channels. Gain access to immediate working capital by applying for a bridge loan. To get started, contact us today and we’ll initiate the application process.