How We Lend…
Senior secured bridge financing structured around the project, not a one-size-fits-all matrix.
| Parameter | Details |
|---|---|
| Loan Size | $250K – $3M |
| Loan Type | Senior Secured Bridge / Short-Term |
| Term | 6 – 24 Months |
| LTV | Up to 70–75% of As-Is or As-Stabilized Value |
| Collateral | Land, Entitled Parcels, Value-Add CRE, Residential Value-Add |
| Use of Proceeds | Acquisition, Renovation, Repositioning, Predevelopment |
| Rate | Competitive; Commensurate with Risk Profile |
| Structure | Interest Reserve, Monthly Pay, or Accruing; Structures Tailored to the Project |
| Geography | Primarily Intermountain West; Other Markets Considered |
| Closing Speed | As Fast as 5–10 Business Days for Clean Deals |
All loans are business purpose only. Terms are indicative and subject to underwriting. Every loan is individually evaluated — we don't run a rate sheet.
What We Finance…
Land acquisition and predevelopment capital for entitled or near-entitled parcels. Value-add commercial real estate — repositioning, renovation, stabilization. Residential renovation and value-add projects with experienced operators. Bridge to construction or permanent financing where timing or complexity makes conventional lending impractical. Recapitalization or partner buyout situations requiring short-term capital.
and What’s Outside Our Current Focus…
We're transparent about what we don't do. We are not a consumer lender — we don't finance owner-occupied residential properties or personal-use real estate. We generally don't finance ground-up construction without entitlements in place, raw speculative land without a clear development thesis, or deals where the borrower's business plan relies on assumptions we can't independently verify. If your deal doesn't fit our box, we're happy to tell you quickly and, where possible, point you toward someone who can help!
Our Process - How It Works…
Initial Inquiry
1
Tell us about your deal. We don't need a polished pitch deck — a phone call, an email, or a few bullet points about the property, the business plan, and the capital needed is enough to start the conversation. We'll give you an honest assessment of whether the deal fits our lending criteria, usually within 24–48 hours.
Term Sheet & Underwriting
2
If the deal works, we issue a term sheet outlining the proposed loan structure, pricing, and key conditions. Once accepted, we move through underwriting — title, appraisal or valuation, borrower diligence, and legal documentation. Because lending decisions are made directly by the partners, there's no committee to wait for.
Closing & Funding
3
We close through a title company with standard ALTA settlement procedures, first-position deed of trust, and lender's title insurance. Our fastest deals have closed in under two weeks. Typical timelines are 2–4 weeks depending on third-party turnaround (title, appraisal, environmental if applicable).
What We Look For…
We're lending against the project, but we're also lending to the borrower.
The deals we're most comfortable with share a few common traits:
A borrower with demonstrated execution capability. You don't need to have done a hundred deals, but you need to have done something — and we'll want to understand how those projects went, what went right, and what you learned from what didn't.
A clear, realistic business plan with a defined exit. We need to see how the loan gets repaid, whether that's through a sale, a refinance, a construction takeout, or another identifiable path. "The market will go up" is not an exit strategy.
Conservative leverage with meaningful equity at risk. We underwrite to protect our capital, and we want borrowers who are equally invested in the outcome. Deals where the borrower has real skin in the game tend to work better for everyone.
A project in a market we can evaluate. Our primary focus is the Intermountain West, where we have deep familiarity with local market dynamics. We'll consider opportunities in other markets, but the further the deal is from our knowledge base, the more we rely on the borrower's demonstrated track record in that geography.
Common Questions
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Our rates are determined deal-by-deal based on the risk profile of the loan — including LTV, collateral type, borrower experience, loan term, and project complexity. We don't publish a rate sheet because every deal is different and we believe pricing should reflect the actual risk, not a one-size-fits-all grid. We're competitive with other direct private lenders in our space and we're always transparent about pricing from the term sheet stage.
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In most cases, yes. We typically require a personal guaranty or recourse from the borrower or a principal of the borrowing entity. This aligns the borrower's interests with ours and is standard practice in private bridge lending. Exceptions may be considered on a case-by-case basis for experienced sponsors with strong collateral positions.
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All of our loans are for business purposes — meaning the property being financed is used for investment, development, or commercial activity, not as the borrower's personal residence. This is an important regulatory distinction. Business purpose loans are exempt from many of the consumer lending regulations (like TILA and RESPA) that apply to residential mortgages, which allows us to move faster, structure more flexibly, and close with fewer bureaucratic requirements.
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Our fastest closings have been under two weeks. Realistically, most deals take 2–4 weeks from signed term sheet to funded loan. The main variables are third-party items — title commitment, appraisal or valuation, and legal documentation. We control what we can control: decision-making speed, documentation preparation, and clear communication throughout the process.
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Yes, though our primary focus and deepest knowledge base is in the Intermountain West — Utah, Idaho, Montana, Wyoming, and neighboring markets. We'll consider deals in other states, but the further the project is from markets we know, the more important the borrower's track record and the collateral quality become. If you have a deal outside our core geography, it's still worth a conversation.
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This happens more often than people plan for, and it's something we account for in our underwriting. We build realistic timeline assumptions into our loan structures and can work with borrowers on extensions when projects take longer than originally anticipated, provided the borrower is communicating proactively and the underlying collateral and business plan remain sound. We'd rather work with a borrower who keeps us informed than one who goes quiet.
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Yes. For renovation and value-add projects, we can structure loans with draw schedules that release capital as the borrower hits agreed-upon milestones. This protects both parties — the borrower gets capital when they need it, and we verify that work is progressing before releasing additional funds.
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We welcome broker-originated deals. The easiest way to start is to send us a brief summary of the deal — property type, location, loan amount, borrower's business plan, and any relevant background on the borrower's experience. Email is fastest: d.jangro@asperacapitalco.com. We'll review the deal and get back to you quickly with an honest assessment of whether it fits.
Have a Deal? Need Financing?
If you're working on a project that needs bridge financing, we'd welcome the conversation. We'll give you an honest answer quickly — and if the deal doesn't fit, we'll tell you that too.