A bridge loan is a type of short-term loan, typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-term financing. It is usually called a bridging loan in the United Kingdom, also known as a "caveat loan," and also known in some applications as a swing loan.
Read more about Bridge Loan: Description, In Corporate Finance
Famous quotes containing the words bridge and/or loan:
“I was at work that morning. Someone came riding like mad
Over the bridge and up the road—Farmer Rouf’s little lad.
Bareback he rode; he had no hat; he hardly stopped to say,
“Morgan’s men are coming, Frau, they’re galloping on this way.”
—Constance Fenimore Woolson (1840–1894)
“... the ... thing I am proudest of in my whole business life is that I do not take, that I never took in all my life, and never, never! will take, one single penny more than 6% on any loan or any contract.”
—Hetty Green (1834–1916)