Where to get bridge loan?

T

Touchdown_Texas

500+ Posts
What is the best way to get one without going to a bank?

My friend out in Vegas needs a bridge loan for 400k for a month and is willing to pay handsomely for it. Are there any private sources that I can direct her to?

This is for a business deal, not an investment, and she would need it sooner, hence no bank. She also has collateral in place. I am trying to help her out because I feel a sense of obligation here. She is a credible individual in the entertainment industry.

Please pm me if you can direct me to the right source. I gave up on craigslist because there are too many scams.
 
She has 1M in bonds as collateral. There are also several security measures in place. I think her best bet was to find a business-savvy HNWI but it's not like you can just look those up.
 
If see has $1 million in bonds as collateral, why not just go to a bank? It should be a slam dunk.

Bernard
 
Well, that's where the tricky parts comes in. The bonds are not yet in her possession and won't be delivered to her until 12/15. At that point she is willing to hand over the bonds to the lender until the deal is wrapped in January at which I believe she would be willing to return 1.5M. So basically there is a 1 1/2 wk gap that she is trying to cover. See the problem?

Basically that weeds out conventional sources, so the only option I can think of would be a private party who is willing to meet her and see the credibility and security measures for themselves. There are three layers of security in place to guarantee the 400k until the bonds are in hand. Agreement and everything is in place except for the lender.

I feel obligated to help because I referred someone to her who didn't follow thru, and since she was going to go with the person I referred, she lost her primary lender (private) who left for Europe the same day. So she went from two sources to none. Complete wreck.
 
Hah, no not a gold-related opp. Basically she is just doing an assets-based trade using her own bonds and needs the 400k (1M total but she is putting in her own 600k), to complete the transaction.

Anyone familiar with this should know the money involved so this is not atypical.
 
and she's willing to pay $1.1MM in interest for a month's use of $400k? sorry, but something doesn't add up, or I misread what you were saying?
 
Aw come on guys don't be so negative. Seems like a great deal, wink, wink. Whats a little usury between friends? 300% return? That is paltry compared to what I got when I sent my bank account information to the guy from Nigeria.
 
Let's just say 1.5M is not a whole lot relatively speaking considering the value of bonds she has. But your point is valid and is probably part of the reason why it's so hard to find someone to entertain the deal.
 
Hey Touchdown- I have all the respect in the world for you. That was a very reasonable response to our smart *** comments. Well Done. I appreciate that.

Stay classy san diego.
 
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