WHAT IS A BRIDGE LOAN OR ASSET-BASED FINANCING?
A bridge loan is a temporary loan that’s secured by your existing property. It ”bridges” the gap between the sales price of your new property and your new mortgage on that property in the event that your existing one doesn’t sell before closing. Essentially, you are effectively borrowing your down payment on the new property before your old property has sold. A bridge loan can be used to acquire a new property, make renovations or even to start a construction project.
If you urgently need capital to meet you or your company’s short-term obligations, please fill out this form and let a representative from Ballista Capital get in touch with you so we can examine the possibility for you to obtain a bridge loan that serves your needs.