Hard Money Loans
Arguably the most significant benefit of a commercial bridge loan is that it provides you with short-term financing to help bridge the gap between long-term funding. Knowing this, the following are some primary reasons why real estate investors often turn to commercial bridge loans to help finance their commercial real estate investments:
Because most investors use commercial bridge loans to bridge the gap until they can secure long-term financing, we make sure to approve our loans fast. After all, if commercial bridge loans took just as long to approve as more conventional loans, they would not be as useful as they are.
As such, one of the biggest benefits of our commercial bridge loans is that you can close fast so that you have the funding you need to continue with your project.
We offer commercial bridge loans for a variety of different types of properties. Although we look at each project individually, we have approved commercial bridge loans for apartments, retail spaces, offices, warehouses, and raw land. If you present a good plan for a commercial building investment, there’s a chance that we will approve the loan you need.
Although we do not have a minimum loan requirement, we typically approve commercial bridge loans that range between $1 and $3 million. While this is usually what investors use commercial bridge loans for, we are also willing to evaluate larger projects.
Every commercial bridge loan that we approve is unique. In that sense, the terms and conditions will always vary from project to project. However, we work closely with each client to find a solution that benefits both parties.
For instance, we often roll the cost of the purchase and the repairs of the property into the loan, and make the money available for anywhere between 12 and 18 months.
Qualifying for a commercial bridge loan through Pine Financial Group is much less complicated than through a traditional lender. While conventional lenders typically comb through your credit history and credit score before even considering an approval, we base our decisions on the potential of your project.
You don’t even need to provide your credit score when you apply with us. In addition, we won’t pull your credit until we’re ready to make a deal.
Here at Pine Financial Group, we work specifically with real estate investors. As such, our team has significant experience in providing financing solutions for residential and commercial real estate projects.
So whether you’re a new or an experienced real estate investor in Virginia, we can help you obtain the funding you need to get your project off the ground.
Qualifying begins by submitting a pre-approval application online. Once we review your application, we will request a recent bank statement and tax return. You will then need to submit your project information, including the scope of work and budget.
Much of our decision-making process will depend on this information, and also the appraisal or internal valuation. For more information about the loan application process, check out our borrower FAQ.
Are you a real estate investor in Virginia in need of financing for your next project? If so, look no further than Pine Financial Group.
We work with all types of borrowers, including individuals, partnerships, limited liability companies, trusts, and corporations, to obtain the financing they need for their commercial real estate projects.
We can help guide you through the loan process to help ensure that you can secure the best financing option for your business in Virginia.