Bridge financing is the general term for any short-term loan, while the permanent loan process is underway. These are generally quick loans (provided the deal strongly makes sense), and they always evaluate these with an eye on the "exit strategy". The exit strategy is extremely important, and not to be brushed over too quickly: Not just "an expectation" of refinance at a future point; this is usually more pointed than this, where the permanent loan is already applied for, and ideally, issued a letter of intent.
It's understood that the permanent loans often take a great deal of time, even when they are solid, and deal opportunities can be gone by then. This then, is the purpose of the Bridge Loan: to enable the borrower the quick cash for a close, pending what should be an otherwise approval for the end loan. (And interest rates are reasonably low.)
But such is our specialty: to begin to structure both loans, such that this will be appealing to all parties. With a little bit of effort on our part, we have several lenders who will entertain these loans.