Bridge Loans – Commercial and Investment Properties
Sunday, October 01, 2006
Bridge loans are often used by builders, developers, contractors, and even investors to fund their projects. They provide an immediate source of funds for a property transfer that has a quick deadline. Bridge loans are often an essential aspect of financing for closing the deal so that no money or time is lost.
Bridge loans also provide time that may be necessary to address any problems that may arise while trying to find permanent financing. Since there are so many aspects involved in commercial and investment properties (getting the permits, doing needed planning, or finishing any evaluations or approvals), a bridge loan can help cover carrying costs and begin the projects without having it impact overall funds or cost additional time.
Builders, developers, and contractors also use bridge loans as a quick source of funding as well when refinancing a loan that about to mature. The bridge loan lets them pay off the old loan at the maturity date, and gives them the opportunity to look for a lender to refinance the property. Bridge loans can be ideal solutions for businesses when it comes to speed.
A company with considerable experience in providing bridge loans is Kennedy Funding. The company recognizes the importance of speed, and that loans must often be structured around each client's unique set of financial circumstances. They have been providing lightning-fast service and creative funding solutions throughout North America since 1986, and internationally since 1996. Among the hundreds of successful deals Kennedy Funding has closed are land developments and construction projects, casinos, commercial and industrial projects, retail centers, residential communities, golf courses, beachfront resorts and ski areas
Bridge loans also provide time that may be necessary to address any problems that may arise while trying to find permanent financing. Since there are so many aspects involved in commercial and investment properties (getting the permits, doing needed planning, or finishing any evaluations or approvals), a bridge loan can help cover carrying costs and begin the projects without having it impact overall funds or cost additional time.
Builders, developers, and contractors also use bridge loans as a quick source of funding as well when refinancing a loan that about to mature. The bridge loan lets them pay off the old loan at the maturity date, and gives them the opportunity to look for a lender to refinance the property. Bridge loans can be ideal solutions for businesses when it comes to speed.
A company with considerable experience in providing bridge loans is Kennedy Funding. The company recognizes the importance of speed, and that loans must often be structured around each client's unique set of financial circumstances. They have been providing lightning-fast service and creative funding solutions throughout North America since 1986, and internationally since 1996. Among the hundreds of successful deals Kennedy Funding has closed are land developments and construction projects, casinos, commercial and industrial projects, retail centers, residential communities, golf courses, beachfront resorts and ski areas
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