A bridge loan is short-term financing, which is used to facilitate the financing of a property for a short period of time. It is used when a borrower expects to sell a property quickly or refinance in the near future.
When we finance a bridge loan, a repayment strategy is in place, so that the loan is repaid loan either through the sale or refinance of the property. Bridge loans are offered for terms of 6-36 months and often can be refinanced into long-term financing through GCP.
Bridge financing is a cheaper alternative to private lending, while being just as fast and with flexible underwriting. Both are non-standard loans acquired due to short-term or uncommon situations. A bridge loan term may be closed, only available for a pre-determined time, or open with no fixed payoff date. There may be a required payoff after a specific date.
Here at GCP Fund, we provide bridge loan financing services for businesses and developers across New York. These interim financing services have been designed to assist real estate investors with financial solutions that offer quick relief in challenging cash-stripped situations.
As one of the leading property bridging finance lenders in the business, we pride ourselves in creating long-term client-lender relationships.
Get in touch with us today to learn more about the structures and options of short-term bridge financing solutions.
If you are in need of short-term bridge financing for your business, contact a senior partner at GCP today.