bridge loan

noun

Definition of bridge loan

: a short-term loan used to finance an enterprise, investment, or government pending the receipt of other funds

Examples of bridge loan in a Sentence

Recent Examples on the Web That is after the state is expected to pay back $1 billion of a $1.2 billion bridge loan from last year. Kevin Bessler, Washington Examiner, "Pritzker details $700M in state budget cuts," 16 Dec. 2020 Part of the need for the bridge loan is because the coronavirus pandemic caused some delays in the finish of the East Aurora building, and when the school district takes ownership of the building. Steve Lord, chicagotribune.com, "Aurora may amend Copley project agreement," 4 Dec. 2020 The emerging growth company will use the new debt financing to repay a $34.5 million bridge loan, the company said Wednesday. cleveland, "Hall of Fame Resort & Entertainment Co. lands $40M debt financing," 3 Dec. 2020 In recent days, Newsom has announced a variety of loan and grant efforts for small businesses as well as the expansion of a program that allows businesses to delay payment of sales tax collections and use the money as a short-term bridge loan. John Myers, Los Angeles Times, "Newsom orders new limits on California businesses and activities as COVID-19 soars," 3 Dec. 2020 In March, after a bridge loan to the company was withdrawn due to the coronavirus pandemic, the company furloughed all of its workers with little advance notice, and was unable to meet payroll. Zak Podmore, The Salt Lake Tribune, "Ranchers, landowners worry copper mine’s plan will taint groundwater in San Juan County," 21 Nov. 2020 In 2019, the Orange County, Calif.-based lender Money360 made a $21.4 million bridge loan on the building. Steve Brown, Dallas News, "Frisco office project hits the market," 1 Oct. 2020 The loans covered 24 weeks of payroll, but with no end in sight to the pandemic, the money is looking increasingly like a bridge loan to nowhere. Robert Channick, chicagotribune.com, "PPP loans kept many small businesses afloat this summer. Without more funds, experts say a wave of bankruptcies is coming.," 10 Sep. 2020 Regent Ken Powell, chairman of the board, floated the idea of a bridge loan to help support Gophers athletics in the event that sports are delayed for a full year. Ryan Faircloth, Star Tribune, "Gophers athletic department faces major financial decisions with loss of fall sports," 12 Aug. 2020

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'bridge loan.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of bridge loan

1973, in the meaning defined above

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Time Traveler for bridge loan

Time Traveler

The first known use of bridge loan was in 1973

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Statistics for bridge loan

Last Updated

23 Dec 2020

Cite this Entry

“Bridge loan.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/bridge%20loan. Accessed 26 Jan. 2021.

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More Definitions for bridge loan

bridge loan

noun

English Language Learners Definition of bridge loan

chiefly US : money that a bank lends you for a short period of time until you receive the money that you are getting from another source (such as from selling your house)

bridge loan

Legal Definition of bridge loan

— see loan

Comments on bridge loan

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