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You can start by reaching out to local banks, private lenders, or credit unions. Networking with real estate professionals can also lead you to trustworthy options.
Like any financial deal, there are risks involved. Borrowers should be cautious and ensure they can repay the note or secure long-term financing before the due date.
The key benefits include quick access to funds, flexibility in use, and often less jargon than traditional loans, making it easier for borrowers to navigate their options.
A bridge note usually lasts for a short period, often between a few months to a year, depending on how fast the borrower can secure permanent financing.
A bridge note is a temporary financial agreement that helps individuals or businesses secure funding until they can obtain more permanent financing.