Bridge Loan

What is a bridge loan?

Bridge Loan Definition: A bridge loan is a short-term loan used to secure financing to pay another financial commitment or obligation. This type of loan provides the borrower with cash flow right away, so they can handle other pressing financial needs, or they can be used as a form of collateral for a business or real estate purchase.

Bridge loans are typically known as bridge financing and often have high-interest rates. These loans are also used to purchase a new asset or property, while the current asset in the borrower’s possession is being sold on the market.

Jul 30 - Comparewise Mortgage Banner

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