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bridge loan |
Also found in: Dictionary/thesaurus, Wikipedia, Hutchinson | 0.16 sec. |
Bridge Loan A loan for a short-term period, usually two weeks to three years, until long-term financing can be arranged or an obligation is removed. Interest rates are relatively high, often 12-15%. Bridge loans are used to satisfy working capital needs; for example, if a company is arranging for an IPO or a bond issue in the coming months, but needs capital before then, it may take out a bridge loan. In doing so, it will plan to pay back the bridge loan with the money raised in the longer-term financing. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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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. 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. 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. |
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