There's a process to go thru before a bridge loan is authorized.
Bridging finance, also referred to as "bridge loans" and "bridging loans", have nothing at all to do with re-constructing the London Bridge.
Because the requirement for bridging finance often arises all of a sudden and without caution, it's a smart idea to build a relationship with a bank before the actual need arises.
When you do this you can organize to b! e pre-approved for a cited loan limit. Later, when the requirement all of a sudden arises, you will not have to wade thru all the red tape.
The characteristic term for a bridge loan runs from a fortnight to so long as 2 years. The bank has to make some money on the deal and the higher rate of interest is where the break lies.