First National’s bridge loans are ideal for borrowers who have yet to secure standard financing or who need the time and flexibility to plot a better future for their property assets.
Our bridge loan terms typically range from three months to three years, include floating interest rates and allow some form of early prepayment.
Borrowers choose this solution until standard financing is secured or while they contemplate a property sale, a change in ownership structure or the implementation of other business strategies.
Additionally, a bridge loan can be used opportunistically to execute an operational improvement strategy to substantially rehabilitate and stabilize a property with the ultimate goal of positioning it for standard financing.
Consistent cash flows, strong operational history and the borrower’s net worth and liquidity are key considerations for this type of financing.