Porter Capital has partnered with One Banc One (OBO) to offer this new service to our clients. Bridge loans are a type of short-term financing to assist entrepreneurs or businesses until permanent financing can be obtained. OBO bridge loans are asset-backed by real estate and can be the ideal solution for time-sensitive transactions when a quick cash injection is required but cannot be obtained with traditional financing.
It’s About Time
Time is always an issue with bridge loans. Because typically if you’re interested in a bridge loan, you need financing and you need it now. We understand your urgency and we’ll do everything possible to provide the funding you need within a matter of days after the loan-related paperwork has been received.
A Financial Solution
Bridge loans offer financial solutions for situations not addressed by conventional lenders. These include, but are not limited to:
- Acquisitions and refinancing
- Borrower distress
- Tax liens and judgment payoffs
- Bank workouts
- Rehabilitation, renovation, and conversions
- Partner disputes and restructurings
Bridge Loan Guidelines
We can customize a bridge-loan package to meet your business’s exact needs. Here are our basic bridge-loan guidelines:
- Our loan range is between $1,000,000 to $5,000,000
- Acceptable collateral is a first lien on real estate
- Loan to value ranges from 25% to 40%
- Terms can range from 90 days to 12 months
- Understanding of loan purpose and repayment plan
- In some cases, interest fees, and points can be included in the loan
- We offer bridge loans in the following states:
- South Carolina
- North Carolina
Getting Your Loan Funded
All you need to do is give us a call or send an email and tell us what you need. Generally, we’ll tell you immediately if we can help. If we can, we’ll gather additional details and issue a proposal within 24 hours.
At Porter Capital, we’re dedicated to being one of the best asset-based financing companies in the country. That’s why we make it easy to get what you need for your business to grow. Apply today to get started!