Jack loved that area in the main town for opening up his gift shop. He had saved up all his lifetime earnings in order to live his dream. He used to imagine having his own shop in that area of town and he had already decided to purchase that particular shop that was on sale for the past few years; luckily no one had purchased yet. May be it was Jack’s luck.
He talked to the shop’s owner and was surprised to know the price. It exceeded the earnings and savings he had in his bank accounts. He really wanted to get the shop so he decided to talk to Jerry, his school friend who worked in a financing and loan lending company. He thought maybe he could help in the time of need.
He didn’t want to let the shop slide through his fingers just because the owner told him that there's another party that is interested in purchasing the shop. Jack requested that he not to sell the property and he agreed to wait for a extra few days.
Jack met with Jerry and told him the entire situation. Jerry explained that Jack could take the help from banks by applying for private mortgage lender. The idea didn’t intrigue Jack because he was not aware of what bridge loans are and how are they helpful. Jerry explained each and everything to him and satisfied him by every mean.
Jack researched about bridge loans on the internet. He also asked his friends about it. After inquiring about the benefits of bridge loans, Jack went to the bank and applied for it. The application of loan borrowing got approved after a period of few weeks.
He used that amount and made the down payment of his favourite shop. He used his savings to invest in the business. He inaugurated his toy shop a few months later. The shop was beautifully decorated. Jack had built it up with many creative ideas in his mind. The shop was very attractive and it had everything that attracted people by its outlook.
After becoming a successful businessman, Jack thinks of the time when he didn’t have any money to initiate the business. He couldn’t have done it if the bank hadn’t helped him by providing a bridge loan. The bridge loan was Jack's sole partner in his time of need. He can’t resist thanking his friend who gave him that friendly advice.