Bridge & Hard Money Loans
Do you need quick cash to handle business expenses or invest in real estate? Don’t wait for your equipment or real estate loan to get approved. Utilize a bridge or hard money loan today and get approved for financing in as little as 24 hours.
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What are Bridge & Hard Money Loans?
While bridge and hard money loans can be confused for each other, they are not the same. Bridge loans provide financing to cover short-term needs while waiting for long-term financing. When the loan term is up, the loan can be repaid with a long-term loan or the sale of assets. Because of the quick access to cash they provide, bridge loans are a go-to for real estate investors as these loans help them stay competitive in their market. Hard Money and Bridge financing also provide options for business owners who want to onboard new equipment but who can’t open a credit line. Instead of waiting till the application for long-term loans gets approved, a bridge loan can get you the funds you need to kick start production.
Real Estate
Real estate investors constantly need cash to move fast on hot real estate deals. Add to your portfolio with financing from a bridge or hard money loan. And if you already have real estate, you can use the value to secure funding for other areas of your business. Our brokers will be happy to show you how.
Equipment
Businesses like manufacturing, farming, and computing rely on valuable equipment to operate. Get funded for the equipment you need with bridge loans. You can also leverage the value of existing equipment to generate cash when you need it.
Working Capital
While working capital is crucial in every business, seasonal income imbalances can cause a business to lack the funds it needs to fund day-to-day expenses. Talk to us today and let our brokers help you find a hard money financing solution to meet your needs.
Advantages of Bridge & Hard Money Loans
- Get quick approval in as little as 24 hours
- Turn around deals fast
- Refinance to free up working capital
- Secure loans even with poor credit
Frequently Asked Questions
When are Bridge & Hard Money Loans not a good fit?
The speed and convenience of bridge and hard money loans come with higher interest rates than other forms of financing. If your business needs aren’t pressing ones, we can help you find other financing solutions with lower interest.
Is Bridge & Hard Money right for my business?
Bridge and hard money loans are helpful financial tools. However, you should know that these loans are short-term and must be repaid at the end of the term or transitioned to long-term financing. If your business lacks the capacity to make timely repayment, you might want to reconsider getting a loan.
Do I need a high credit score to get a Bridge or Hard Money Loan?
No, you don’t need a high credit score to secure a hard money loan. Hard money loans require you to provide hard assets as collateral, so your credit history is not a necessary qualification.
Do Bridge & Hard Money Loans require a down payment?
Yes, bridge and hard money loans usually require a down payment. The specific amount you’ll provide as down payment depends on your lender, intended purpose, and loan amount. Let us know what’s in your budget, and we’ll match with a loan program and lender that fits.