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» Why Get a Commercial Bridge Loan?

Posted on 12/1/2004
Commercial bridge loans are used to bridge the gap between the purchase of a commercial property and long term financing. It is advisable to get a hard money commercial bridge lender "in your back pocket" in case you need them when preparing to purchase a commercial property. BAnks are notorious for taking a long time to fund and if your purchase is time sensitive - even if you have left yourself many months leeway - you may find at the last moment that the bank is still not ready to fund by your closing date. Having a hard money commercial bridge loan ready to close at a moment's notice is a good hedge against losing the property entirely after all your efforts.
Posted in Miscellaneous