What Is a Bridge Loan?

定义

A bridge loan is a short-term loan used until a person or company secures permanent financing or removes an existing obligation. It allows the user to meet current obligations by providing immediate cash flow. Bridge loans are short term, up to one year, have relatively high interest rates, and are usually backed by some form of collateral, such as real estate or inventory.

过桥贷款是一种短期贷款，用于个人或公司获得永久性融资或解除现有义务。 它允许用户通过提供即时现金流来履行当前义务。 过桥贷款是短期的，最长一年，利率相对较高，通常有某种形式的抵押品支持，例如房地产或库存。

 

These types of loans are also called bridge financing or a bridging loan.

该类型的贷款也称为过桥融资或搭桥贷款。

 

 

KEY TAKEAWAYS

重点

A bridge loan is short-term financing used until a person or company secures permanent financing or removes an existing obligation.

过桥贷款是短期融资，直到个人或公司获得永久融资或取消现有义务为止。

Bridge loans are short term, typically up to one year.

过桥贷款是短期的，通常不超过一年。

These types of loans are generally used in real estate.

该类型的贷款通常用于房地产。

Homeowners can use bridge loans toward the purchase of a new home while they wait for their current home to sell.

房主可以在等待现房出售时使用过桥贷款购买新房。

 

How a Bridge Loan Works

使用

Also known as interim financing, gap financing, or swing loans, bridge loans bridge the gap during times when financing is needed but not yet available. Both corporations and individuals use bridge loans and lenders can customize these loans for many different situations.

过桥贷款也称为过渡期融资、缺口融资或回转贷款，过桥贷款可以弥补借款人所需融资的时间缺口。公司和个人都可以使用过桥贷款，贷方可以为许多不同的情况定制过桥贷款。

 

Bridge loans can help homeowners purchase a new home while they wait for their current home to sell. Borrowers use the equity in their current home for the down payment on the purchase of a new home. This happens while they wait for their current home to sell. This gives the homeowner some extra time and, therefore, some peace of mind while they wait.

过桥贷款可以帮助房主在等待现房出售时购买新房。 借款人使用现房的净值作为购买新房的首付款。 此种情况发生在他们等待现房出售时。 这给房主一些额外的时间，因此在他们等待时可以安心。

 

These loans normally come at a higher interest rate than other credit facilities such as a home equity line of credit (HELOC). And people who still haven't paid off their mortgage end up having to make two payments—one for the bridge loan and for the mortgage until the old home is sold.

过桥贷款的利率通常高于其他信贷工具，例如房屋净值信贷额度 (HELOC)。 而那些仍未还清抵押贷款的人最终不得不支付两笔款项——一笔用于过桥贷款，另一笔用于在旧房出售之前的抵押贷款。

 

Example of a Bridge Loan

示例

When Olayan America Corporation wanted to purchase the Sony Building in 2016, it took out a bridge loan from ING Capital. The short-term loan was approved very quickly, allowing Olayan to seal the deal on the Sony Building with dispatch. The loan helped to cover part of the cost of purchasing the building until Olayan America secured more-permanent, long-term funding.

2016 年，Olayan America Corporation 想购买索尼大楼时，从 ING Capital 获得了一笔过桥贷款。 短期贷款很快获得批准，使Olayan得以迅速敲定索尼大楼的交易。 在 Olayan America 获得更永久、长期的资金之前，这笔贷款帮助支付了购买该建筑的部分成本。

 

Bridge loans provide immediate cash flow, but come with high interest rates and usually require collateral.

过桥贷款提供即时现金流，但利率高，通常需要抵押品。

 

Businesses and Bridge Loans

企业和过桥贷款

Businesses turn to bridge loans when they are waiting for long-term financing and need money to cover expenses in the interim. For example, imagine a company is doing a round of equity financing expected to close in six months. It may opt to use a bridge loan to provide working capital to cover its payroll, rent, utilities, inventory costs, and other expenses until the round of funding goes through.

企业在等待长期融资并需要资金来支付过渡期的费用时，会转向过桥贷款。 例如，假设一家公司正在进行一轮预计将在六个月内完成的股权融资。 其可以选择使用过桥贷款来提供营运资金，以支付其工资、租金、水电费、库存成本和其他费用，直到该轮融资完成。

 

Bridge Loans in Real Estate

房地产过桥贷款

Bridge loans also pop up in the real estate industry. If a buyer has a lag between the purchase of one property and the sale of another property, they may turn to a bridge loan. Typically, lenders only offer real estate bridge loans to borrowers with excellent credit ratings and low debt-to-income ratios. Bridge loans roll the mortgages of two houses together, giving the buyer flexibility as they wait for their old house to sell. However, in most cases, lenders only offer real estate bridge loans worth 80% of the combined value of the two properties, meaning the borrower must have significant home equity in the original property or ample cash savings on hand.

过桥贷款也应用在房地产行业。 如果买家在购买一处房产和出售另一处房产之间存在滞后，他们可能会求助于过桥贷款。通常，贷方仅向信用评级良好且债务收入比较低的借款人提供房地产过桥贷款。过桥贷款将两栋房子的抵押贷款合并在一起，让买家在等待旧房出售时具有灵活性。但是，在大多数情况下，贷方仅提供价值为两处房产总价值 80% 的房地产过桥贷款，这意味着借款人必须在原始房产中拥有大量房屋净值或手头有充足的现金储蓄。

 

Bridge Loans vs. Traditional Loans

过桥贷款和传统贷款

Bridge loans typically have a faster application, approval, and funding process than traditional loans. However, in exchange for the convenience, these loans tend to have relatively short terms, high interest rates, and large origination fees. Generally, borrowers accept these terms because they require fast, convenient access to funds. They are willing to pay high interest rates because they know the loan is short-term and plan to pay it off with low-interest, long-term financing quickly. Additionally, most bridge loans do not have repayment penalties.

过桥贷款通常比传统贷款具有更快的申请、批准和融资流程。 然而，为了便利，此类贷款往往期限相对较短，利率较高，发起费用较高。 一般来说，借款人接受这些条款是因为他们需要快速、方便地获得资金。他们愿意支付高利率，因为他们知道贷款是短期的，并计划以低息、长期融资快速还清。此外，大多数过桥贷款没有还款罚款。

 

 

（英文来源：https://www.investopedia.com/terms/b/bridgeloan.asp）