Q: Who is Bridge Loan Network
A: Located in South Windsor, CT, Bridge Loan Network was established in 2014 as a private lending software company. Initially their focus was to produce the best platform for private lending brokers. However, as we continue to advance our technology we’ve been able to introduce a lending platform as well.
Q: What services does Bridge Loan Network offer?
A: We offer two main services, a web application for brokers and a Loan Origination System for lenders. Additionally, we have the ability to design websites complete with the application and we give each client the opportunity to join our Referral Portal. This portal allows brokers to search for lenders to fund a deal and allows lenders to look for deals which fit their criteria.
Q: How much does it cost to join your platform?
A: There is no cost to join the platform as a borrower, broker, or lender. We monetize on the services we offer if you choose to use them.
Q: How long does it take start utilizing Bridge Loan Network’s software?
A: Our skilled team of developers can have websites built in as little as three days. A lender can be up and running on the Loan Origination System or Referral Portal in less than 48hrs.
Q: How is your software installed?
A: The software is a cloud-based platform available to you wherever you have an internet connection. Our Web Application Integration is available as an API that plugs directly into your website allowing for quick and easy set up.
Q: What other types of programs are you integrated with?
A: We can integrate with CRM’s, servicing software and most other platforms. Additionally, we are integrated with CIC meaning we have the ability to perform hard credit pulls as well as with Lexus Nexus for pulling background reports.
Q: How do I sign up as a Lender?
A: To sign up as a Lender with Bridge Loan Network, please fill out the form on our home page to request a demonstration of our Lender Portal. A representative will contact you to schedule your demo.
Q: How do I sign up as a Broker?
A: To sign up as a Broker with Bridge Loan Network please click here, and complete the web form.
Q: What if as a lender, I can’t fund a deal?
A: If a Lender cannot fund a deal, they can refer it out to the other lenders on our system to be funded. If the deal gets funded, the originating company receives a referral bonus. If a Broker’s deal does not get funded by the first lender that submits interest, the deal is placed back into the referral portal to be viewed by more lenders.
Q: How does Bridge Loan Network make money?
A: Bridge Loan Network does not make money on deals closed internally. We do however, take a small fee on any deal closed via the referral portal. This can be a loan inputted by a broker and closed by a lender or, can be a loan inputted by a lender and closed by another lender. Additionally, we charge small fees on credit and background orders and we take a small fee on transactions completed through our merchant account.