Browse Business Listings in East Pharsalia, New York for Bridge Loans

Despite its name, a bridge loan isn?t necessarily used for building bridges. But, if you?ve got a bridge to build and need a loan, we can help you with that too. Come risk your money with us today!

What Is A Bridge Loan?

We can help you get your East Pharsalia, NY bridge loan today. Just give us a call or drop by!

You might think that East Pharsalia, NY bridge loans are only for people who want to build roads over canals. In reality, bridge loans are short-term, high-risk loans mainly used in the business world. You can apply for a bridge loan for a variety of projects, not just ones involving building bridges or other pieces of infrastructure.

East Pharsalia, NY Commercial Bridge Loans

A bridge loan in East Pharsalia, NY is meant to offer temporary financing for an individual or business until permanent financing is established, thus ?bridging the gap.? These loans are more expensive (with a higher interest rate) than other financing to compensate for the extra risk involved.

Money that is obtained from the new financing usually goes to paying back the bridge loan. If you need help or have questions, we can assist you in deciding whether or not a bridge loan is in your best interest. We?ll also explain the repayment options so that you can make an informed decision. Because East Pharsalia, NY bridge loans are typically more expensive than the more conventional loans, they may not be the best option for you, though they can be arranged quickly with relatively little documentation.

Our loan experts can provide all of the information you want and assess your loan needs in a fast and effective process.

East Pharsalia, NY Emergency Bridge Loans

Bridge loans are often used in cases of national emergency. For example, they were used in Florida after Hurricane Wilma struck in 2005. Since Wilma destroyed many small businesses, Governor Jeb Bush activated Florida's emergency "bridge loan" program to provide short-term loans.

The quick revitalization of small businesses was a vital part of the state's recovery from the destruction caused by the natural disaster. Providing an immediate source of cash flow to businesses in need allowed businesses to quickly re-open their doors in the wake of the storm.

Though a hurricane may not have been the cause of your business troubles, the lesson is still applicable. A bridge loan from a local East Pharsalia, NY bank may help keep your business afloat in difficult times.

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