COMMERCIAL BRIDGE LOANS: WE ARE THE LOCAL LENDER FOR SHORT-TERM FINANCING NEEDS
Hard Money Loans for Commercial Buyers
Business owners, trusts, corporations and private partnerships often secure hard money loans for their commercial property needs. These private money loans, which can be used to rehabilitate or pay off mature notes on commercial properties, are often known as bridge loans or gap loans.
As a hard money lender with years of experience in the commercial lending sector, we understand the needs of business owners and investors. We will work with you to make sure that your commercial hard money loan meets your needs and offers the best rates at reasonable terms.
Our Commercial Hard Money & Bridge Loan Parameters:
Industrial, office, retail, apartment complexes (5+ units), shopping centers, restaurants, mixed-use, automotive, hotel, special purpose, land, gas stations, and specialty properties.
$100,000 – $20,000,000
6 months to 20 years – interest-only, partially-amortized, and fully-amortized loans available.
Loans are available to individuals, trusts, corporations, and limited partnerships
Bridge loans are used as a temporary source of capital until a more traditional source can be secured.
Bridge loans are used in commercial real estate for a whole host of reasons, including: starting a business, making payroll, expanding a product line, buying out a partner, or buying the time necessary to improve a property or stabilize it sufficiently to refinance or sell.
A bridge loan provides investors, real estate professionals, and business owners the capital and time needed to get from point A to point B in their journey to profitability. A bridge loan can also provide small business owners with short-term working capital that banks are unwilling to offer.
Traditional lenders are limited to providing capital under a strict set of conditions. Socotra Capital is not bound by those restrictions, and can provide bridge loans backed by the equity in a property to meet any number of requirements.
We also offer bridge loans to small business owners that need fast money on property that is held free and clear or with substantial equity. Our bridge loans maximize your flexibility, enabling you to build, purchase, or rehab commercial property.
Bridge Loans for Owner/User
Looking to acquire and make improvements to commercial properties? Does your business occupy the building you own? Finding an easy answer to your short-term financing needs will enable you to focus more time on your business. Examples of when this could be relevant include:
- Industrial entities who own their buildings so they can expedite any changes required to support a new product line.
- Corporations which occupy only a percentage of a property and wants to attract new, rent-paying tenants to the site.
- Owners making improvements to real estate.
Boost the value of your equity with one of our fast and easy bridge loans! Making improvements will increase the value of your investment, and our bridge loans will help you upgrade the condition of your property and bring in new, rent-paying tenants. Let us bridge the gap between purchase and stabilization.We will help you improve your property from distress to success.
We offer both interest-only and term loans up to twenty years, allowing you to choose a payment schedule that fits your needs!
Bridge Loans for Investor Property
Traditional financing for any investment property type requires a history of tenant payments. But, as is often the case, the owner of the property is interested in renovating the vacant property and attracting new tenants. Once these tenants are in place, owners must stabilize the income they receive.
Our bridge loans provide the means to get the transaction done with enough time to stabilize the property. Banks require a history of tenant payments, which makes it difficult to maintain that stabilization. We offer a quick close on the vacant building and flexible terms that give you ample time for renovations and stabilization.
We are as good as cash. And with no limits on the number of properties or bridge loans, you can leverage one building or your entire commercial portfolio.
Bridge Loans for a Refinance
This is among the most common uses for a bridge loan. Loans for small businesses are typically handled by the SBA (Small Business Association). However, there are times when an investor does not qualify for SBA loans, such as due to damaged credit or a non-qualified property, which hinders a property owner’s access to equity in their property.
This is where Socotra Capital steps in. We can provide the capital to handle the necessary short-term liquidity needs, so long as there is sufficient equity in the property. Our loans are designed for quick underwriting and fast closing in order to meet a borrower’s expedited timeline.
As your local neighborhood bridge lender, Socotra Capital is here to help. There is no limit to the number of bridge loans or properties we will finance. Our hard money bridge loans are based on real property equity, and we can often provide same-day prequalification. Contact us today!