Capital sourcePrivate and bridge money, placed for speed when the clock is the deal
Asset-based private money is the fastest, most flexible capital we place — funded on the property's value and your exit plan, not your tax returns. You pay for that speed in rate and points, so it works as a bridge to a sale or a permanent refinance, not a long-term hold.
Private money (often called hard money or bridge financing) is short-term capital from private lenders, debt funds, and mortgage funds rather than banks. The loan is underwritten primarily to the real estate — its as-is value, equity cushion, and a credible exit — with minimal documentation and far less weight on personal income or credit. North Bay Capital is a broker, not the lender: we source and place these loans across our network of private capital providers and structure the terms around your timeline. The trade-off is cost. You get certainty and speed when a bank can't move fast enough, then refinance or sell out of the loan within months.
- Time-sensitive acquisitions, auction purchases, or 1031 exchange deadlines where a bank can't close in time
- Value-add and reposition plays — a property that won't qualify for permanent debt until it's stabilized or leased up
- Bridge or gap financing while you wait on a permanent takeout, an SBA approval, or a pending sale
- Distressed and special situations: discounted payoffs, partner buyouts, foreclosure bailouts, or loans facing a maturity default
- Borrowers with a story — recent credit events, complex entities, or self-reported income — who have real equity and a clear exit
- Cost is the trade-off — rates and points run well above bank or agency debt, so the numbers only work when speed or flexibility creates more value than they cost.
- It's a bridge, not a hold. Short interest-only terms mean you need a realistic, time-bound exit (refinance or sale) before maturity, or you risk extension fees and default.
- If your deal is stabilized, fully documented, and not on a deadline, conventional, agency, or SBA financing will almost always be cheaper — talk to us about those first.
Private / bridge money — questions
How fast can private money actually close?
Far faster than a bank. We can typically get a term sheet back in 24–72 hours and close in about 5–15 business days once title and the appraisal or valuation are in hand. Because these lenders underwrite to the asset rather than to pages of income documentation, the bottleneck is usually third-party reports, not committee approval.
What does private / bridge money cost?
Expect rates in the ~9.5%–13% range (interest-only; short-term fixed on smaller loans, floating over SOFR on larger bridge) plus 1–3 points to the lender at closing, on top of standard appraisal, title, and legal costs. Pricing moves with your leverage, the asset, and the strength of your exit. It's premium capital — the right question isn't whether it's expensive, but whether closing fast or flexibly is worth more than the spread over bank debt.
How much can I borrow, and is it recourse?
Most private lenders go up to about 65–75% of as-is value, or roughly 70% of total cost with a rehab holdback on value-add deals. The majority of these loans are full-recourse with a personal guaranty; non-recourse is available on some larger or institutional-grade deals but usually means lower leverage and tighter terms. We'll shop the structure that fits your risk tolerance.
Do you lend the money, or do you place it?
We place it. North Bay Capital is a commercial mortgage broker — we don't fund loans ourselves. We source private and bridge capital across a network of private lenders, debt funds, and mortgage funds, then negotiate and structure the terms on your behalf. That lets us put your scenario in front of the right capital source instead of forcing your deal to fit one lender's box.
Let's find the right capital for it.
Tell us about the asset and the business plan — we'll source and place the financing across our lender network.