Waiting for your business loan approval will not always be as quick as you may like. In fact, it can take anywhere from four to six months for some lenders to finally approve funding. These months can cause a business to suffer, or even put owners in danger of losing the company. Luckily, Pacific Business Lending has the answer.
We can also provide other types of short-term collateralized loans and can usually close in 10 days or less.
Bridging the Gap
Commercial bridge loans can help ensure the continued success of your business. These loans are short-term funding resources used by companies until they can officially secure the permanent financing option they need. For example, companies might use them when they are closing on a permanent lease or long-term loan. Because these are short-term loans, you can expect higher interest rates. They also, more than likely, must be backed by a legitimate form of collateral.
The benefits of commercial bridge loans also extend to the actual process of receiving the loan. For instance, the application process, approval process, and funding process are all relatively quick, especially in comparison to larger business lenders. You won’t have to endure unnecessary hassles like gaps in cash flow or inconveniences such as extended delays.
At Pacific Business Lending, the success of your business is important to us. If you are in need of a speedy source of interim funding, contact us today to learn more about our commercial bridge loans.