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how to get a bridge1303 .pdf

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how to get a bridge
Everyday, thousands of small business owners apply for a bridge loan.
A bridge loan is a short-term loan that is used until a person or a company secures permanent
Most loan applicants don't have a good credit history. Entrepreneurs know how difficult it is to
pass the loan committee with insufficient credit records.
This often causes delay in the release of much needed funds .
Entrepreneurs needs cash now! As, John Maynard Keynes would say "In the Long Run We are all
Even with a good business plan,a loan officer can classify your firm, with a poor credit rating.
Credit analysts looks at the liquid asset ratio of the balance sheet. An enterprise that have a
below par liquidity are often refused for a loan.
The only way for entrepreneurs to remedy this shortcoming is by via non-bank financing
Can a firm with low credit rate still avail of a much needed trade loan?
The answer is....Yes!
Nearly all banks are simply approving agencies good credit ratings.
There are loan brokers who can assist subprime borrowers. Considering the massive amount of
private lenders in the industry, there are a great deal of these independent firms offering loans
despite a negative credit status.
Commercial loans can be used for factoring, purchase order financing , unsecured business
loans, and business acquisition.
Commercial borrowing choices can come in two forms: collateralized or no collateral loans.
Unsecured debts are usually are pegged at above prime rates.
Also, unsecured business loan have in-depth credit check.
Since this type of a lending product is risky, especially on the lenders side.
Lenders need to capitalize on the possibility of not getting back the bank's loan proceeds.

Even if you have a poor credit rating, you can easily get a small commercial loan by having the
corporate books that will exhibit the financial strength of the business. If your firm is making
income, you can present the documents like balance sheets and income statements.
When you seek for a commercial loan agent, you need to consider at some areas before you
move forward.
Initially, you need to have your due diligence on the loan before you get one.
Take into account the high interest rate, and rigid settlement terms and unusual finance
In the end, the entrepreneur will ultimately decide if a loan broker is the right fit for the business.

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