Borrowers
The six steps of a Miller Bates bridge loan, with the typical timeline for each — from your first email through to funds disbursed at closing.
Disclosure: The information on this page is provided for general educational purposes only and does not constitute a commitment to lend, an offer to sell securities, or a solicitation of an offer to purchase securities. Timelines are typical and not guaranteed. All loans are subject to underwriting, approval, and applicable legal requirements.
1 business day to a reply
Send us the loan request. Include the amount, the duration you need, the use of funds, your planned exit strategy, and the collateral property address and parcel number. Email it to info@millerbates.com or use the Get Funded form, which asks for the same things in order.
Typically 1 business day
Our underwriting team takes a high-level look and comes back quickly on whether we can proceed. We may ask for more information. If it fits, we issue a term sheet for the borrower and guarantor to review.
A commitment fee is due at this stage. It is typically $1,500 to $3,000 and goes toward initial hard costs — the Broker’s Price Opinion, travel, and similar out-of-pocket expenses.
Typically 7–10 business days
Once the signed term sheet is back and the commitment fee is paid, we order a third-party BPO. Underwriting confirms the final amount we can lend based on that valuation, and we schedule a site visit to the property once the BPO is complete.
Typically 1 business day
With the BPO and the site visit done, our loan committee meets to approve moving forward. We may request further items at this point — property acquisition details, evidence of municipal approvals, an updated title report, or a deposit to cover legal work.
Typically 4–5 business days
We work with a title company and our attorney to prepare the closing documents. These vary by transaction but typically include a Secured Promissory Note, Trust Deed, Personal Guaranty, Certificate of Authority, Unanimous Consent and Settlement Statement.
At the same time, we present the loan to our investors for their participation.
Funds disbursed
At closing, funds are disbursed to the borrower and the broker through the title company. From there you work with our in-house loan administrators for the life of the loan — we hold and service our own loans, so the people you deal with at closing are the people you deal with afterwards.
Adding the typical timelines above, a straightforward deal runs roughly two to three weeks from first email to funding. Deals move faster when the property is simple and the borrowing entity’s paperwork is current, and slower when entitlement, water rights or municipal approvals are still in motion.
Send the request and we will come back to you — usually the same business day.