Finance
In South Carolina, what is a 'bridge loan'?
AA loan for constructing a bridge
BShort-term financing that bridges the gap between purchasing a new property and selling an existing one✓ Correct
CA government-backed loan for rural development
DA loan that bridges multiple lenders
Explanation
A bridge loan provides short-term financing to allow a buyer to purchase a new property before selling their existing one. It 'bridges' the financing gap but typically carries higher interest rates due to its short-term, higher-risk nature.
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