In today’s market, it is imperative to understand all of the financing options available to you and your business to ensure growth and stability. One such financing tool available to your small business: the bridge loan.
What is a Bridge Loan?
Bridge loan financing is a form of financing that fills the gap until a long-term financing solution can be found. Let’s say you find a property in foreclosure that you want to pounce on immediately. A bridge loan may be the answer to securing the property while working out the long-term funding details. Bridge loans are a valuable asset to any business looking to grow and diversify.
How Can a Bridge Loan Work for Me?
Like all financial transactions, bridge loans have their pros and cons. Here are 3 advantages to using a bridge loan:
1. Provides the Opportunity to Make Quick Decisions
Bridge loans are perfect financing tools for foreclosures or any real estate transaction that you are looking to close on quickly. Instead of waiting for a bank to process your long-term loan, a bridge financing company like Crown Financial can give qualified borrowers the funding almost immediately.
2. No Long-Term Debt
As a short-term loan, the repayment period is shorter, normally designed to be paid off before the long-term loan goes into effect. Crown Financial in Houston, Texas offers repayment periods between 6-24 months, depending on your situation.
3. Improved Financial Standing
Due to the short nature of a bridge loan, taking out the loan and repaying it in a timely fashion is likely to improve your overall financial standing – helping you qualify for better financing options in the future.
Interested in a bridge loan to achieve your business goals? Call Crown Financial in Houston, Texas today. We strive to be the best bridge financing company in Houston, offering bridge loans as well as construction financing, other specialty financing, and invoice factoring.