What is a Bridge Loan?
A bridge loan is a temporary short-term funding solution until a permanent loan is in place. A Bridge is typically used for working capital purposes, operating expenses, paying off a vendor purchasing inventory, paying off liens or judgments or reduce debt that may cause cash flow issues all while waiting for a Mid-Term loan or a permanent SBA Loan.
The Benefits of Bridge Loans
Some of the most important benefits of Bridge loans include the following:
- Flexible repayment options – monthly, bi-weekly, weekly and daily repayment options
- Fixed factor or interest rates – this will give you the certain understanding on your what Bridge loan will cost you
- Rapid access to capital – With a quick turn around, approval to Funding is almost immediate
- Many uses covered – Bridge loans can be used for a variety of business purposes that are needed for a short period of time
A bridge loan is available to small and medium sized businesses. They fund faster than traditional financing which is appealing to businesses that are waiting for their longer term loan to come available. Rates for a Bridge loan can often be high however, Colopy Corp ensures an early pay off discount to be given if the loan is paid off within the allotted time given.
The Business Bridge loans carry your business towards its financial goal. Primarily, Business Bridge loans are versatile and businesses can use them for almost every business need. Colopy Corp’s Bridge loan products can be a great financial option so that business owners can meet the current obligations by providing immediate cash flow until your company secures permanent financing or removes any obligations. Business bridge loans will apply in creative instances such as when struggling with business instability, opportunistic inventory purchases, debt to pay off and more. You could also view it as an emergency loan. They close within a short period of time but leave your business on its feet.
We understand that your business needs a loan for gap financing. Therefore, we customize your Business Bridge loan to cover all the various business needs. The bottom line is this; you will find it easier to obtain the funds as compared to other types of business funding. Now you know where to turn to when you need such a service.
Our funding specialist at Colopy have years of experience providing a proper Bridge loan for small to medium sized businesses and understand the needs for immediate access to capital. With these Business Bridge loans and with the expert advice from Colopycorp, your business will blossom.
If you feel that your business could benefit from this type of financing and are interested in hearing more about Colopy Corp’s bridge loans, contact us today!