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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 offer funding
within 1-5 days on our bridge loans.
Case Study:
Residential Development and Resort -Texas-2007
Borrower was having difficulties with his construction lender who
decided not to continue with the project. Primeau Funding stepped in
and provided a short-term loan of 3.6M based on the accepted value
and allowed the 2nd lien to remain subordinated. Primeau Funding was
then able to provide 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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