Quick Financing for Your Business Needs
Sometimes, you need quick access to funds to keep your business moving. Get the funds you need right when you need them. From purchasing property to renovating or expanding your business, a bridge loan can help you cover the gaps.
How Can You Use a Bridge Loan?
Buying Commercial Property
Secure a new property while waiting for your long-term loan to come throughRenovating or Upgrading
Make Critical improvements or renovations to your business space without delayManaging Short-term Expenses
Cover expenses like payroll or inventory while waiting for other funds
A commercial bridge loan is a short-term loan that helps you cover immediate business expenses while you’re waiting for long-term financing or a sale to go through. If you're in between selling one property and buying another or need fast funding for renovations or expansions, a bridge loan can help you get there without the wait.
Commercial Bridge Loans at a Glance
Commercial Bridge Loans
Property Type
Multifamily, Warehouse, Retail, Office, Hospitality, ALF (other property types will be considered)
Occupancy
Investor or Owner Occupied Business
Purpose
Purchase, Refinance, Restructure (Inc., partner buyout)
Interest Rate
8.49%-11.49% depending on credit check and other qualifying aspects
Term
Up to 24 months
LTV
Up-to 80% on Multifamily | 70% other type ( subject to FICO & LTV)
Loan Amount
Min - $1,500,000.00
Max - $500,000.00
Foreign Nationals will be considered
Minimum FICO
640
Interest Only Payments
Yes
Prepayment Penalty, Junk Fees
No
Recent Foreclosure, Bankruptcy Permitted
No
Lower Occupancy/ NOI
Permitted with acceptable Proforma P&L/Rent-Roll (may effect LTV)
LOI Issued
Within 48 hours from initial submission
Borrower
LLC, Corp, Partnerships (no individuals)
FAQS
What can I use a commercial bridge loan for?
Commercial bridge loans short term loans ideal for owners who need fast cash to move forward. Get the funds you need fast to cover gaps until you secure permanent financing or finalize a sale.
Bridge loans can be used for buying commercial property, renovating or upgrading, managing short-term expenses and more.
From purchasing property to renovating or expanding your business, a bridge loan can help you today.
How long does it take to get a commercial bridge loan?
The approval process can be relatively quick, as lenders often prioritize speed in these types of loans. However, it's still important to apply well in advance to ensure timely funding.
What are the interest rates for commercial bridge loans?
Interest rates for commercial bridge loans are typically higher than traditional mortgages due to the short-term nature and increased risk.
Do I need collateral for a commercial bridge loan?
Yes, you typically need the property being sold as collateral for a commercial bridge loan.
What are the advantages of a commercial bridge loan?
Speed: Bridge loans can be obtained quickly, providing timely funding for your real estate transaction.
Flexibility: They can be tailored to your specific needs and timeline.
Collateral: Collateral is typically used to secure these loans; most often, the real estate you're purchasing or renovating will serve as collateral on the loan.
What are the disadvantages of commercial bridge loans?
Higher interest rates: Compared to traditional mortgages, bridge loans have higher interest rates.
Short term nature: They are designed to be temporary financing solutions.
HAF Business Associates provides commercial loans and business financing solutions. All loan programs are subject to approval based on applicant creditworthiness, property eligibility, and other factors. Loan terms, interest rates, and fees are subject to change without notice. This website is for informational purposes only and does not constitute a commitment to lend. HAF Business Associates is not responsible for any errors or omissions in the information provided. The availability of these products may vary based on individual qualifications and state regulations. All loan programs and terms are subject to change without notice. To ensure that you are receiving the most up-to-date and accurate information, please contact us directly. Privacy Policy