What is a Bridge Loan?

Bridge Loan is a short-term loan used for business purposes mainly temporary financing facility until a person or a business secures its permanent financing or pays off an existing obligation.
Bridge Loans have relatively high interest rates in the 8-20% range, but can be much higher depending on if it is backed by some form of collateral such as real estate or the inventory of a business.
Bridge Loan are used by businesses when businesses are waiting for long term financing or need money to cover expenses in the interim.
Pros Cons
Short Term Cash flow Higher Interest rates
Quick Access to Loan Higher Transaction Costs
Receive Approval after being denied by banks  
Present a stronger purchase offer  
Ability to choose the repayment options