Short Term Bridge Loan
The Short term Bridge Loan is a type of short term loan, through which the financing permits the user to meet current obligations by giving the immediate flow of cash. This type of loan is for short term period ranging from 2 weeks to three years but the users have to pay high interest for it. It is very common in the market of real estate. This type of loan is very flexible and the rate of interest also varies depending on the type of lenders. The Bridge loan has different names in different countries such as Short Term Bridge Loan , Africa, and United Kingdom etc. It is known as “Caveat Loan” in UK and “Bridging Finance” in South Africa.
The other names of Short term Bridge Loan is “Swing Loan” or “Interim Financing” or “Gap Financing”. Both the individuals and corporations can take this loan in different situations as and when needed by them. Different countries such as Short Term Bridge Loan or any other has their own terms and conditions of the provision of providing the short term loan. This type of loan is very expensive. It has the points which are exactly the fees and 1 point equals to 1% of loan amount.
The Short term Bridge Loan can be taken for the smooth running of business Short Term Bridge Loan , for construction purpose or it can be a construction loan for any purpose, for the purchase of new residence etc. It helps in bridging the gap between the requirement of short term cash and long term loan. The borrower can easily access the short term loans and normally these loans extend for a period of 12 months.
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