Commercial bridge loans are an alternative to traditional loans. This type of loan is gaining popularity, and many investors are turning to commercial bridge loans. For three reasons why investors are turning to commercial bridge loans, continue reading.
The first reason investors are turning to commercial bridge loans is loan structure. Commercial bridge loans offer a short term financing option where the “bridge” can be gapped until a longer-term loan can be secured. A bridge loan lasts between one to three years, and during this time a borrower can improve their circumstance to qualify for a traditional loan.
The second reason investors are turning to commercial bridge loans is qualifying on collateral. Terms for qualifying for a bridge loan varies from lender to lender, and the terms can be very different than a traditional mortgage. Bridge loans allow borrowers to receive money based on their collateral, rather than their credit score. A borrower can receive a loan based on their property, rather than their credit, making it easier to gain approval.
The final reason that investors are leaning more towards commercial bridge loans is that they offer a solution for refinancing. For many commercial real estate investors, bridge loans are a way to refinance when they’re in a rut. For those experiencing financial difficulties, commercial bridge loans are the easiest way to get help.
To learn more about commercial bridge loans, contact Shop Commercial Mortgage. Our team consists of professionals who are skilled and knowledgeable when it comes to commercial bridge loans. We can answer your questions and help you receive a commercial bridge loan that can meet your financial needs. Whether you’re seeking a way to fund your business or you’re in need of a loan to hold you over during a bridge gap, a commercial bridge loan can help you. To get in touch with Shop Commercial Mortgage, reach out to us at 813-368-9919. We hope to hear from you soon and look forward to working with you!