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SBA Bridge Loan

SBA Bridge Loan

Small businesses can derive immense benefits from a loan that is guaranteed by the Small Business Administration. These loans carry a low rate of interest and the amounts that are saved as a result of this can help to make an enterprise financially strong. But the financing process followed by the SBA is time-consuming and in many instances it is not possible for the loan applicant to wait for the loan amount to be made available. Delays result in loss of sales and lost customers. The loan applicant trying to get an SBA guaranteed loan may decide to give up and instead opt for a costlier alternative from a lender who has a quicker turnaround time. But there is a better solution available. In normal circumstances, the SBA 504 loan is available for owner-occupied commercial real estate or machinery and equipment. A borrower can even apply for a loan that covers both requirements. Usually, the amount of finance that is available is 90% of the cost of the property or machinery. The commercial lending institution advances 50% of the project cost and holds the first mortgage. The small business borrower is required to put up 10% of the project cost. The remaining 40% will be made available to the borrower by the SBA against the creation of a second mortgage. In many cases, this process creates a delay and borrower may need to wait for the funds. Many commercial lenders offer a simple solution. They provideinterim financing for the entire project. This “bridge financing” or “bridge loan” can be of tremendous benefit to the small business borrower. When the borrower opts for an SBA Bridge Loan, the entire amount that is required for purchasing commercial real estate and / or machinery will be made available immediately. Of course, the 10% down payment will still need to be made by the applicant. Subsequently, when the SBA completes its documentation, it will release its 40% share of the project cost. The commercial lender will set off its bridge loan against this amount. The interim arrangement offered by an SBA Bridge Loan can be invaluable in getting a small business off the ground and into commercial operations. The documentation for an SBA Bridge Loan is relatively simple and can be completed quickly. Small business borrowers are strongly advised to explore the possibility of taking an SBA Bridge Loan as it allows them to access their entire funding requirement in a smaller time-frame.

With over 500 business lenders, you are sure to find one that can help your small business get the money it needs to succeed. Most of the lenders work with all types of business lending options and are flexible with the amount you may be asking for. Most times you just need to fill out a quick and simple loan application and you could get your money in as little as 24-48 hours. It’s time to see what your business can do!

Accountable Capital Corp.

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(41 reviews)

Atlas Capital Solutions

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(1 review)

Dakota BUSINESS Finance

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(0 review)

1st American Commercial Lending

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(0 review)

1st Independent Leasing, Inc.

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(0 review)

44 Business Capital, LLC

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(0 review)

A&A Funding Corporation

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(0 review)

A10 Capital

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(0 review)

Accelerate Commercial Capital

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(0 review)

Accion International

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(0 review)