A bridge loan from Bridgeloan.nl offers flexibility, but there are specific conditions that you must meet to qualify:
1. Type of applicant
- You are a commercial real estate professional, such as a real estate investor, trader, or developer.
- Applications from private individuals (consumers) will not be processed.
2. Own input
- You have sufficient resources of your own to finance part of the project.
- The maximum loan-to-cost (LTC) is 80%, which means that you must contribute at least 20% of the costs yourself.
3. Maximum financing
- The maximum loan-to-value (LTV) is 75%, based on the value of the collateral.
4. Track record
- You have experience with real estate projects, such as fix & flip projects, and can demonstrate a track record.
5. Project requirements
- Only existing real estate is eligible; new construction projects are excluded.
- The purpose of the object must be determined and an irrevocable environmental permit is required.
6. Exit strategy
- You have a clear exit strategy, such as selling the property or switching to long-term financing, which will allow you to repay the loan.
7. Object Properties
- The property must be in a common location and be suitable for alternative use.
- Residential real estate is preferred, but combination properties may also be eligible.
8. Minimum and maximum loan amount
- Financing is possible from €250,000 to a maximum of €2,500,000.
9. Other conditions
- A viable business case and solid financials are essential to support the application.
- The project should be completed within 6 to 24 months.
Meeting these conditions increases the chance of a successful application for a bridge loan. Each project is assessed individually to map out the feasibility and risks.