Bridge Loans
You have found the commercial property of your dreams. The location is perfect, it has all of the space requirements you need for your business, and even the price is right. The problem? The owner wants to close the deal fast, and you still haven't sold your current business space. That's where commercial bridge loans come into play.
A commercial bridge loan is a loan for a short period of time that is used until more permanent financing can be secured. A commercial mortgage bridge loan from Houston Factors can help you come up with the money to buy a new store or business space, while still carrying the old one. Bridge loans are often the perfect solution to many time-sensitive transactions. They enable a purchaser or an investor to act quickly with cash to secure a favorable acquisition, start a business, or expand to a larger location.
Commercial bridge loans are starting to gain in popularity due to the advantages they carry over traditional loans and financing. There are typically very few limitations on the uses of funds for bridge loans (mortgage lenders will review the use to ensure that payback can be met however). Bridge loans for mortgages are especially useful if you are purchasing a bigger business location with a higher mortgage than was previously paid.
Some of the benefits of mortgage bridge loans from Houston Factors include:
- With commercial bridge loans the buyer can immediately put their office, store or other business location on the market without restrictions (many lenders will not offer lending if the first property is on the market).
- Bridge loans may not require monthly payments for a few months.
- If the buyer has made a contingent offer to buy and the seller issues a Notice to Perform, the buyer can remove the contingency to sell and still move forward with the purchase using the bridge loan mortgage.
Purchase the office space or business location of your dreams with a mortgage bridge loan from Houston Factors today! Houston Factors can help your business during unstable economic times, and send you on the way to a profitable future. Call us anytime at 877-TEX-FACTORS and speak with a live representative about any questions or concerns you may have. We are always available to help you!
