A bridge loan is a loan taken out for a short period of time in order to finance a project, typically anywhere from two or three weeks to two or three years. Bridge loans are a means of expediting business transactions and are often used in real estate to save a property from foreclosure or to close on a property quickly.
If a company wants a particular project funded quickly but the bank financing ends up taking several months to close, a bridge loan, for a portion of the project's funding, can be taken out to get the project underway immediately. Bridge loans typically have a higher interest rate than regular bank loans, ranging between 10 and 16 percent.
CNF Exchange: The Best Source for Business Bridge Loans
The revolutionary CNF Exchange online bridge loan process is the effective, secure and convenient way to bring borrowers and lenders together. With the assistance of a dedicated CNF Exchange senior analyst, borrowers can quickly gather and upload all necessary loan information and documentation. Our network of registered lenders has access to only the potential borrowers that fit their particular lending criteria.
If you’re a qualified borrower, CNF Exchange:
- Makes it easy to find lenders or investors interested in your project
- Allows you to compare multiple loan proposals to find the best possible loan terms
- Ensures you have everything in place to complete a successful borrowing transaction
If you’re a lender, CNF Exchange:
- Puts you in touch with prequalified buyers who are ready to do business
- Saves you time, which ultimately saves you money
- Helps you build lucrative new business relationships
Borrowers and lenders can also take advantage of our Press Room, Rewards Program and document uploading and sharing feature. Find out additional information on loans like the business acquisition loans today.