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Bridge Loans |
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Bridge loans are similar to hard money loans,
although bridge loans indicate it will bridge the borrower to the next
transaction. A bridge loan is a short-term loan that will be used for
interim financing until the property is refinanced, sold, or the
property is improved or competed.
When is a bridge loan needed? A bridge loan would benefit a borrower that may have a balloon due
on an existing loan and/or if the borrower needs to take down a
piece of property and/or building before the opportunity no longer
exists. Bridge loans are one of our niches, and we can facilitate funding
within 5-10 days business.
Case Study: Residential Development and Resort in Texas
Borrower was having difficulties with his construction lender who
decided not to continue with the project. Primeau Funding stepped in
and helped the borrower secure a short-term loan of 3.6M based on the accepted value
and allowed the 2nd lien to remain subordinated. With the guidance and help from Primeau Funding, the Developer was able to secure adequate working capital so phase 1 could be completed
along with the lot sales. Loan closed in 2 weeks.
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"WAREHOUSE LINE "
Mortgage Warehouse Line
"NEW MARKET REPORTS"
PRIMEAU FINANCES:
Golf Courses
Shopping Centers
Self-Storage Units
Apartment Buildings
Construction
Office Buildings
Gas Stations
Refinance
Restaurants
Funeral Homes
Hotels/Motels
Mobile Home Parks
Retail Stores
Car Washes
Automotive Services
Mixed-Use Buildings
Marinas
Auto Dealerships
Retail
Shopping Malls
Raw Land
Bed & Breakfast
Assisted Living
Condotels
Parking Structures
Condominiums
Light Industrial & Warehouses
Other Income Producing Properties
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