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What is a Bridge Loan?

Thursday, June 13, 2019, 12:17 PM

A bridge loan is also known as gap financing. A bridge loan is a short-term loan sanctioned for the borrower who wants to meet short term financial requirements. The tenure of bridge loans is capped at 5 years. The loan amount sanctioned and the interest rate on the loan is calculated by evaluating the repayment capacity of the borrower.
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#6 Plan a Presentation and Make the Appointment

Wednesday, May 30, 2018, 6:10 AM

Prepare a presentation of your business plan and application for your loan officer. Be sure and include an Executive Summary. Many loan officers read the Executive Summary first and decide whether they are interested based on that. Make an appointment with your loan officer and request enough time to do a short presentation, with visual aids, based on your business plan. Be short, brief,
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#5 Prepare Your Business Plan

Wednesday, May 30, 2018, 6:06 AM

This may be your most important step. In order to get a small business loan from just about any lender, you have to prepare a good business plan. The business plan is in addition to the loan application required by the financial institution. It will also include a statement of collateral or the type and value of assets you will use to secure the loan.

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