Short-term Bridge Loan | Endeavors South Florida

Short-term
Bridge Loan

Bridge loans have a max term duration of 12 months, but they can be extended to 18 months and even to 24 months should it be necessary. However, they're typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-term financing.

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Standard Loan Terms

‣ Max Loan Amount: $5,000,000

‣ Max LTV (Loan to Value): 75%

‣ Rate: Starting at 10%

‣ Loan Term: 12 months (with option to extend to 18 and 24 months)

‣ Payment: Monthly Interest Payments with Balloon at Maturity

‣ Prepayment penalty: None

‣ Minimum credit score required: 600

‣ Closing time: 10 days on average

Standard Requirements

‣ Credit Application filled and signed

‣ Last 2 bank statements (Of an US bank account)

‣ Copy of ID

‣ Copy of Borrowing Entity documents

‣ Purchase Contract (If the loan entails purchase)

‣ Property Insurance