Frequently Asked Questions

Q. In which states do you lend?
A. Porter Bridge Loan Company lends in the 48 continental U.S. states.

Q. How quickly do you issue a letter of interest?
A. Within 48-72 hours after receiving all your documentation, we will issue a letter of interest or decline the opportunity.

Q. Do you fund joint ventures or provide mezzanine funding?
A. No. Porter Bridge Loan is a hard money lender. Acceptable forms of collateral include real estate, machinery and equipment, publicly traded stock, royalties and accounts receivables.

Q. Do you charge upfront fee?
A. Yes, we do collect due diligence fees upfront. When we issue our letter of interest to the potential borrower, we collect these fees to cover appraisal, title and attorney fees. The borrower pays the remainder of fees at closing.

Q. When will I get the funding?
A. Porter Bridge Loan Company can usually fund within 10 working days after receiving all loan-related documents.

Q. What type of paperwork is involved?
A. Porter Bridge Loan Company has minimized the paperwork involved in our lending process. We often accept available supporting collateral documents to reduce the time for funding.

Q. What does it cost? (Give a range, plus points.)
A. Interest rates are 12% to 18%, and points as needed to originate and underwrite the line of credit.

Q. Do I need collateral?
A. Yes, all bridge loans are secured with tangible collateral

Q. What collateral is acceptable?
A. Acceptable collateral includes real estate, machinery & equipment, publicly traded stock, royalties, and accounts receivable.

Q. Suppose I have no income from the collateral?
A. Collateral without income is acceptable, provided terms for the payment of interest and amortization are arranged with Porter Bridge Loan Co. Sometimes interest and amortization can be paid up-front in the origination of the loan.

Q. How long will I have to pay back the loan?
A. Loan terms range from 90 days to 12 months.