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Why private lending
Why private lending, in plain English.
Answers to the questions borrowers ask us most about bridge loans, hard money and private real estate lending in New York and New Jersey.
Quick answers
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What is private lending?
A loan from a private lender instead of a bank. Private lenders like Brooklyn Bridge Capital look first at the property and the deal, which lets them decide and close faster.
What is a bridge loan?
Short-term financing that bridges a gap, for example between buying one property and selling or refinancing another. Our bridge loans release time and money constraints.
What is a hard money loan?
A short-term loan secured by real estate, based mainly on the property’s value. It suits time-sensitive purchases, refinances and properties a bank will not finance yet.
When does private lending make sense?
When speed matters, when a bank says no or too slow, when a property needs work before it qualifies for a bank loan, or when a property is at risk of foreclosure.
How fast can I get funded?
You can get a term sheet in a few hours, and our experts can conclude your equity solutions within days.
What property types do you lend on?
Mixed use, multi-family, retail, office buildings, warehouse, industrial, self storage, assisted living, gas station and automotive, residential non-owner occupied, and land.
Where do you lend?
New York and New Jersey, with deals in Manhattan, Brooklyn, the Bronx and across the New York metro area.
How much can I borrow?
Requests run from $100K to $100M. Listed deals range from $265,000 to $30,000,000.
Is private money more expensive than a bank?
Usually yes, because it is faster, shorter-term and more flexible. Ask for a term sheet and you will see the full terms for your deal.
What is my exit plan?
Most private loans are repaid by a sale or a refinance into long-term financing. Construction loans can convert to permanent financing at the certificate of occupancy.