From plan to project
Do you own a property and are looking to expand or purchase a larger location? Are you searching for a quick financing solution that will get you from point A to point B until you are able to secure more permanent funding? Lira Funding offers just the type of financing you need.
A bridge loan is a type of loan used by a company to bridge a gap in financing until the company obtains more permanent funding for an existing project or obligation. Commonly used to assist with immediate business needs for capital, debt, improvements or real estate transactions, the bridge loan is usually a short-term loan but it can range between a few months to a few years. Most often, a business will take a bridge loan for real estate purposes in order to renovate or save a property from foreclosure or to assist in a quicker closing on a property.
Lira Funding can assist your business in securing a bridge loan with financing as high as $1 million to $100 million. Depending of your business needs, a bridge loan might be the right choice for you.
Among the many benefits of securing a bridge loan are:
• Easier and quicker to obtain than a long term loan
• High value loan ranging from $250.000 to millions of dollars
• Interest rates from 9 to 14 percent
• Lower overall cost to business when compared to other loans
• Low income documentation required to apply
• No early repayment penalty