Expedite Business Transactions with a Bridge or Hard Money Loan
You have probably heard of the term “bridge loan” before, but you may not be familiar with exactly how one works. In short, bridge loans are designed to be a temporary source of funding that is repaid once more permanent financing can be fully established elsewhere. Repayment terms can span from a few weeks up to a couple of years, typically.
Benefits of a Bridge Loan
These loans can be used in a variety of ways,
- You want to move a new project forward more quickly, but you have to wait for the bank to approve the loan for it, which could take months.
- You are stretching yourself too thin waiting for your dated receivables to be paid, and you are concerned about covering payroll.
Will a Hard Money Loan Help Me?
Typically, hard money loans are used to help save businesses in financial distress. You might be a good candidate if these scenarios apply to you:
- Your business is in jeopardy, and you need an immediate capital injection to stay afloat.
- You are delinquent with other debts that must be cleared up now to keep your company solvent.
The Lakewood Group is highly experienced in providing bridge and hard money loans as quickly and effortlessly as possible. To learn more, please contact us today.