Flexible Financing for Long-Term Success
Unleash the Power of Your Business with Tailored Term Loan Solutions
HOW WE WORK
Business Loan
HOW TO QUALIFY
4 year time in business +$350,000 Annual Revenue
No open judgments, liens, or defaults
HOW TO QUALIFY
4 year time in business +$350,000 Annual Revenue
No open judgments, liens, or defaults
BENEFITS
Monthly Payments No Prepayment Penalty Up to 7-Year Terms Unsecured & Secured Options
BENEFITS
Monthly Payments No Prepayment Penalty Up to 7-Year Terms Unsecured & Secured Options
COST
MCA Cost reduction by 70%
Consolidate up to 7 Positions
COST
MCA Cost reduction by 70%Consolidate up to 7 Position
Business Financing is not one size fits all
Every business owner deserves to see all their options
Our most popular program since 2014, with set monthly payments and no prepayment penalty, our Unsecured Business Term Loan was designed to be as flexible as possible.
Your funds can be used for almost any business purpose.
Loan offers up to $1,000,000
4-7 Year Terms Available
Unsecured/No Collateral Required
Good Credit Required
Minimum of $350,000 annual revenue required
Applying has no effect on your credit score, and repaying your loan on time even helps your business build good credit!
The Bank Loan Depot Term Loan Program is ideal for business owners who find it frustrating to navigate the endless applications, offers and short term cash advance options.
At the Bank Loan Depot, you work with one point of contact who processes your business loan from start to finish.
Our team gives you the very best programs & options to enable your team to make the very best decision you can for your success today, tomorrow, and always.
Essential Insights To Consider
Introduction and Purpose
If you're looking for business financing—particularly to purchase or fund a real estate project—you may have come across commercial bridge loans. Bridge loans, however, are a very unique type of short-term financing that function differently from typical business loans
Definition and Function
As we mentioned, commercial bridge loans are a very specific type of financing and differ from other types of loans. Bridge loans—also referred to as bridge financing, swing financing, or gap financing—are used particularly to finance an immediate opportunity, typically in business upfront cost for a project, inventory, or even bad debt refinancing.
Bridging the Gap
As the name implies, commercial bridge loans are used to 'bridge the gap' between a business's current need for financing and a more long-term financing solution like an SBA loan or a bank loan.
Characteristics of Commercial Bridge Loans
When it comes to business bridge loans, you're most often talking about commercial unsecured term loans. In other words, these are loans that are used to finance your capital needs while you're in the process of arranging a long-term form of funding or you simply want a longer amortization without a prepayment penalty
Duration and Collateral
Commercial unsecured bridge loans are short-term or interim financing—terms, therefore, are usually on the shorter side—between 3-5 years where a mortgage is typically 20-30 years. Collateral is usually not necessary, although lenders will consider traditional business loan requirements
Lenders and Rates
Commercial bridge loans can be issued by banks, alternative, online lenders, as well as private lenders, venture capital companies, and sub-corps of your favorite national bank. They can come at rates higher than a mortgage, EIDL, or SBA loan but still very affordable
Use-Cases for Commercial Bridge Loans
How do commercial bridge loans work? This commercial unsecured bridge loan would provide you with the funding to take advantage of the opportunity immediately—and then you would be able to find a more affordable, long-term form of financing or refinance your existing business loan if you feel there is an opportunity for a lower rate and/or longer term.
Examples of Use-Case
For example, say, for instance, a client comes to you with a great project assuming you can provide and support your own payroll, costs and build out till he pays your invoice in 30-90 days. With a commercial bridge loan, you can secure the funds necessary to bid the job and lock in the opportunity without hurting your operating cash flow
Tiding Business Over before Acquisition
Tiding your business over before acquisition: You may take on interim financing, in this case, commercial bridge loan financing, to access capital until the acquisition is complete
Stocking up on Inventory
Finally, one last example of a use-case for commercial bridge loans is for stocking up on inventory. Let's say you come across a huge liquidation sale of inventory that you typically stock—you'll likely want to take advantage of this opportunity to stock inventory at a discounted rate. In this case, you'll need access to a significant amount of capital, and quickly.
What to Look for in a Commercial Bridge Loan
So, if you think a commercial bridge loan might be able to meet your business financing needs, there are a few things you'll want to keep in mind as you start your search
Considerations in a Commercial Bridge Loan
However, with this type of interim financing, you'll likely want to pay attention to two fundamental characteristics in particular: Funding time and Prepayment incentive
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