A Bridge Loan is ideal for
fast access to funds
Bridge loans are excellent for covering unexpected costs when waiting on long-term financing.
What Is a Bridge Loan?
A bridge loan is a short-term loan that helps bridge the gap between a business’s current need for financing while they wait for a more long-term solution to be secured. This is ideal for businesses who need to leverage funding to buy real estate, expand operations, or manage cash flow, among other reasons.
We understand that sometimes the loan process can take time and securing long-term financing can be an extensive process. That’s why at Rapid Finance, we work with our network of partners to provide small businesses with simple and transparent bridge loans, giving them access to the capital they need fast.
Our bridge loans start at $5,001 and range up to $1 million. Payment options are super flexible with automatic daily, weekly, or monthly payments*. Another great feature is that you can apply through our online portal. If approved, this portal will be available to you at any time, so you can always review your account.
Bridge Loans Allow Access to Funds
While Your Business Secures Long-Term Financing
You only need 3 important things to apply.
Visit our online portal to fill out an application. Tell us about your company, goals, and objectives. We recommend having the necessary paperwork on hand to make the process even faster.
Our team will carefully review your business application. One of our trusted business advisors will reach out if we need any additional information.
Our team will send out the approved funds to your business bank account if approved.
A bridge loan operates by giving firms quick access to working money while looking for long-term finance. This allows companies to obtain a lump sum of money while waiting to see if their long-term loan request is granted.
Businesses may profit from obtaining funding in a single sum with set payments and terms, similar to a small company loan. The critical distinction is that a small company loan is usually long-term, but a bridge loan is considered short-term.
You may enter your target working capital amount, credit score, and monthly sales into the Employer Capital bridge loan calculator to get an idea of what your company might be eligible for based on the data supplied. Perhaps further details are needed.
No. A small business loan and a bridge loan can both be obtained. To apply for a bridge loan, a business bank account, time in business, business revenue, and a valid form of identity are often necessary conditions.
Businesses that want immediate access to funds while receiving long-term credit may benefit significantly from a bridge loan. Additionally, they provide rapid access to funds, various payment options, and maturities ranging from three to sixty months.
However, bridge loans have a limited duration. If a firm is searching for a loan with a longer term that lasts for several years, this might not be the ideal choice.
Your request for a commercial bridge loan may still be approved despite having poor or low credit. Most small company financiers consider credit when evaluating applications, but it’s not the sole criterion. Firm income, duration of the business, accounts receivables, and business credit history are just a few of the other aspects that business funders take into account before approving an application.
There are a few considerations before applying. The first point should be the justification for the financing your company needs. The amount of operating capital your company requires and the repayment conditions you can afford should also be considered. This will assist you in determining if you require a short-term or long-term loan.
Before applying, you should also consider your company’s credit score, how quickly it needs the money if it has existed for more than two years, whether you have more than a year’s worth of business bank statements, and other factors. These are a few of the inquiries that will be made during the application process.