Bridge Loans & Hard Money Loans
Our Bridge Loans Keep You in Business
Sometimes in business, you find yourself needing more property and having to get rid of old property. There are times when you are between transactions and need some working capital to tide you over until some of these transactions are resolved. Abel Commercial Funding is able to provide bridge loans and hard money to help your business thrive when you are between hefty transactions.
What Is a Bridge Loan?
A bridge loan helps you to cross the monetary gap when you are between large business transactions, such as selling one property after you have purchased another. You are likely to obtain the money you need after your initial property sells, but you need some financial help in the meantime. Our experienced team of professionals can help you acquire what you need to make it through those transactions.
What Does It Take to Qualify?
We tend to offer bridge or hard money loans that start at one million dollars. We are able to lend to national and international companies with interest rates varying from 9% to 14%. We are usually able to take commercial real estate as collateral. We also offer quick closing, often taking anywhere from five days to one month. If you are a small, medium or large business in need of some hard money, we may be able to help.
Hard Money Loans Criteria and Rates
- Loan Size: $100,000 to $100,000,000
- Lending Area: National and International
- Collateral: We lend mainly to commercial real-estate, including raw land and development projects
- Interest Rate: Variable from 9% to 14% depending on collateral
- Amortization: Interest Only
- LTV: Up to 80%
- Origination Fee: 1 to 4%
- Closing time: 5 Days to 1 Month