In todays tough lending climate commercial bridge loans are picking up steam.With lenders hoarding cash and some raising the bar making it difficult to qualify for financing/refinancing commercial bridge funding is the only option in some cases.What is a commercial bridge loan you may ask?A commercial bridge loan is exactly what it sounds like,a loan to help you get from a current situation were conventional financing is not possibly for some reason or another (,ie quick closing,bad credit,avoid foreclosure,etc) to a point were conventional financing is available.Commercial bridge loans are not as costly as hard money...but come close.Bridge loans can be used for numerous reasons such as:for business acquisitions or mergers,to take advantage of a bargain priced commercial property where purchasing and financing are needed immediately,when borrower need capitol to satisfy taxes,to make business changes to comply with new govt regulations,to stabilize a company facing a temporary cash crunch because of unforseen market or economic conditions etc.
David Hitchcock is Broker/Owner of MortgageCerv Financial.MortgageCerv Financial is a commercial mortgage company that specializes in small business and owner-occupied commercial real estate financing.David can be reached at 888-282-0601
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