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» Refinancing Commercial Real Estate Quickly
If you need to generate working capital for your business, using the collateral in real estate can be one of the fastest ways to generate that capital in a hurry. Hard money commercial bridge lenders can such as Avatar Financial Group can fund a real estate refinancing loan is as little as two weeks from the time you sign a Term Sheet and make a down payment toward the costs of due diligence.
Be prepared to demonstrate your ability to make monthly interest-only payments and show a clear exit strategy. Remember, commercial bridge loans have terms of 1-3 years and require a take-out loan or other exit strategy to be in place. If you are experiencing financial difficulties, but expect to be able to set your affairs in order within 36 months, your exit strategy might be to turn to a conventional lender at the end of the loan term. Selling the real estate property is also an acceptable exit strategy. Work through the financial options before submitting your loan application. Have ready answers to these questions and have photos of the subject property ready as well. A well prepared loan scenario gets funded faster and at better rates.
