A bridge loan is a temporary financing option that offers short-term finance until a permanent financing solution is in place or a commercial debt obligation is discharged. Bridge loans include terms of one to twelve months and either a single repayment, which is frequently supplied (though not always), or a series of daily, weekly, or monthly instalments. Depending on the sort of bridge loan or bridge funding facility, rates for this kind of financing are often in the 8–20 percent range, but they can be significantly higher. Bridge financing may also be used for more specialised purposes, such as debt repayment, the purchase of commercial real estate or the development of commercial real estate. Bridge financing is typically used for working capital needs, operating capital while waiting for permanent SBA financing, and debt repayment.