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bridge loan

   Also found in: Dictionary/thesaurus, Wikipedia, Hutchinson 0.07 sec.
Bridge Loan
A short-term loan that is used until a person or company can secure permanent financing.

Notes:
Banks offer bridge loans to help home buyers out of a sticky situation. They are short-term loans (up to 1 year) with high interest rates that let you borrow against the value of your old home. Basically it covers the bills until a company or person is approved for a larger loan.

See also: Loan
bridge loan
A short-term loan that is taken out until permanent financing can be arranged. Also called swing loan.
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A $750,000 bridge loan for a vacant 4 story mixed use building to be converted to new 16 unit apartment building with retail, in Williamsburgh, Brooklyn.
JG Capital, LLC by Real Estate Weekly
For the month of September, Greystone Servicing Corporation had one of its most impressive monthly bridge loan totals, driven by closings in California, Nevada, and North Carolina, and particularly targeted in the area of skilled nursing facilities.
Greystone Servicing Corporation Closes on $82 Million Seniors ... by Business Wire
25 million bridge loan for New York City developer, Sleepy Hudson LLC, to fund the acquisition of two contiguous parcels of land to be developed into a luxury residential condominium tower in the Tribeca neighborhood.
Partners reach right comfort level to back luxury Tribeca condo plan by Real Estate Weekly
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