PRINCE2Â® (Projects IN Controlled Environments) is a structured project management method, PRINCE2 and certification programme for practitioners in the methodology who are accredited, qualified through training. PRINCE2 emphases dividing projects into manageable and controllable stages.
DEFINITION of 'Bridge Loan'. A short-term loan that is used until a person or company secures permanent financing or removes an existing obligation. This type of financing allows the user to meet current obligations by providing immediate cash flow.
Another benefit of a bridge loan for a company is that the company can generally pay off a bridge loan at any time without a prepayment penalty. This is different than most commercial mortgage loans, in which the borrower might pay a significant penalty for paying off the loan early.