Bridge Loan Store

About Bridge Loan Store

Bridge Loan Store is an asset-based lender headquartered in Portland, OR offering funding all across the US. They offer commercial hard money loans and short term loans. They offer loan amounts ranging from $500,000 to $2,000,000 with a maximum LTV of 80%, rates ranging between 4.3% and 12%, and terms between 1 year and 5 years. They offer loans on all the following types of properties: multi-family, retail units, office buildings, apartment buildings, industrial facilities, storage buildings, warehouse buildings, hotels/motels, and senior living communities.

Loan Types Offered: Commercial Hard Money Loans, Bridge Loans

Property Types Covered: Multi Family, Retail, Office, Apartment, Industrial, Storage, Warehouse, Hotel, Assisted Living

Areas Served: National

Lending Guidelines for Bridge Loan Store

Below are the general loan guidelines published on the Bridge Loan Store website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Bridge Loan Store.

Loan Example 1

To accommodate his business, Edwin must acquire a new warehouse. After he is denied a conventional mortgage loan from his local bank, he secures a commercial private money loan from Bridge Loan Store. The new property costs $210,000. Based on a 50% loan to value (LTV) stipulated by the lender, the principle is $105,000. The remaining $105,000 will be be paid by the borrower. The deal also specifies a 12 month term, a 13% rate of interest, interest-only payments paid monthly with a balloon payment at the end of the note (with no pre-payment penalty), and a 3 point origination charge. By the terms of the deal, Edwin will have to pay an origination charge of $3,150 at the closing (3% x $105,000 principle) and will then make payments of $1,138 per month ($105,000 principle x 13% interest / 12 months in a year). he will also make a balloon payment of the $105,000 principle upon expiration of the note, or before if he decides.

Loan Example 2

Bridge Loan Store issues a private money bridge loan to Jeremy for a rehab project in Flushing, NY. The deal includes the following:

$260,000 purchase price
55% loan-to-value (LTV)
18 month term
8% interest rate
4% origination fee

If Jeremy achieves his goal of a $351,000 sales price, the final numbers of the deal will be the following:

$351,000 sales price
- $143,000 principle (55% LTV)
- $117,000 cash paid at closing (45% on 55% LTV)
- $5,720 origination fee (4% of the $143,000 principle)
- $17,160 interest payments (18 months x 8% interest)
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= $68,120 total profit (does not include taxes or renovation costs)

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