Bridge Funding
Bridge funding is most recognized as a short term loan to help businesses and individuals purchase a new property while their old property remains on the market, but bridge funding is a lot more than that. When opportunity knocks, and you need fast cash to turn around a job for payment, bridge funding can help you too.
Act Fast!
Bridge loans can close within a few days and you can have your money in under two weeks. Compare that to 45 days for many traditional loans.
Upgrade Property or Equipment
When you need to renew property or equipment, but you also need a transition period, a bridge loan gives you the means.
Fulfill Purchase Orders
When specialty orders and deals come in, you don’t need to tie up your working capital. Bridge loans help you fulfill high value POs, paying off the balance when client repayment comes in.
Move Quickly When the Time is Right
Bridge loans, because they are asset based, don’t take the time many other loans take to close. Assets are routinely valued based on asset class and market demand, so there isn’t the need for multiple reviewers to give the go ahead before your loan is approved. That gives you the opportunity to strike when the iron is hot, no matter how you plan to use the received funds.
years of combined industry experience.
years of combined industry experience.
Upgrade
Upgrade your property by either taking a loan against your current property to purchase a new one, or by taking a loan against your building to pay for the cost of renovations and upgrades. For many equipment and high value software users, there is a training component to taking on new technologies. Keep your old equipment in place by taking a hard money loan against it to pay toward your new equipment while your team trains. That way you upgrade and keep your current rate of production while you bring new tools and processes online.
Fullfilment
Fulfilment is a routine challenge for many small and midsized businesses. Put that challenge to bed by leveraging hard assets and property for working capital, open to buy and for fulfilling specific high value POs that come in periodically. The challenge with Purchase Order bridge financing is that the order needs to be fulfilled and the customer needs to repay the loan within the timeframe of the loan. At the end of the term the total balance is due, so production, shipping, fulfillment and payment dates must be adhered to in order to prevent costly overage fees.
