NavyXSeal Federal Bank offers bridge loans, providing short-term financing to bridge the gap until longer-term funding is secured.
Bridge loans are short-term loans designed to provide immediate funding for businesses that need to cover expenses or take advantage of opportunities while waiting for longer-term financing. These loans are typically repaid within a few months to a year.
Purpose: The primary purpose of bridge loans is to offer interim financing for businesses during transitional periods, such as during a property purchase, before securing permanent financing, or while waiting for a major contract payment.
Advantages: The main advantage of bridge loans is the quick access to funds, allowing businesses to act promptly on opportunities or cover urgent expenses. These loans can be a critical source of temporary financing, helping businesses avoid cash flow shortages and maintain operations smoothly. Additionally, bridge loans often have flexible terms and can be customized to meet the specific needs of the business.