SBA Bridge Loan

The SBA Bridge Loan product was created to support a short-term need for businesses while they await approval on their SBA loan. The Bridge Loan through Fastrak Enterprise is not related to the SBA and is not government funded, but was created to support a need for capital during the extended period of time that it may take to get approval from the SBA.

The standard term for the SBA Bridge Loan through Mulligan Funding is 12 months. You may pay back the loan early with no penalties if you receive SBA loan approval before the 12 months.

• Your payment will be dependent on your loan amount along with other factors¹. You will have a weekly ACH that assumes the loan will be paid back over a term of 12 months. This will allow us to give you a payment that is manageable, and also a back-up strategy in case your SBA approval does not come through.

• • You can expect to reduce your total financing costs by 55-65% if your bridge loan is refinanced within 3-6 months.

• • • The SBA Bridge Loan product serves as a safety net exactly for this scenario. Should you not get approval on your SBA Loan application, you will continue to make your SBA Bridge Loan payments for a duration of 12 months. If you need additional financing prior to the end of your 12-month term, you may be considered for additional financing once your bridge loan is 50% paid off (including unpaid interest)².

• • • Great! If your SBA Lender requires a direct payoff of your bridge loan balance, we can provide a payoff letter for your discounted balance so that they can send funds to us directly. If your SBA Lender is willing to fund your loan in whole, directly, you can contact us and we will provide payoff instructions with your discounted balance.

• • • • You will receive up to a 50% discount on your bridge loan balance if it is paid off within 6 months. If you obtain the SBA Loan after the 6-month window, the total repayment associated with your original 12-month term shall apply.