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I checked money.stackexchange for bridge loan questions regarding the best parties to contact regarding securing a bridge loan. There is also a lot of stuff online about how a bridge loan involves borrowing against one's home. This is not exactly what I intend to do.

I am hoping to get a bridge loan of ~$25,000 by borrowing against a guaranteed bonus in April 2020 of > $40,000. This is not guaranteed in double quotes; it is a literal guaranteed bonus (as long as I'm still employed in good standing) that was negotiated as part of me joining a new company.

Getting a small personal loan from someone like LightStream is not an option right now because I am already in debt and I cannot get more credit extended. Thus, the desire for a bridge loan.

Is it possible to secure this type of bridge loan? If so, how?

My credit score at the moment is 725-750 depending on provider.

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    "as long as I'm still employed in good standing". Then it's not guaranteed. – RonJohn Sep 21 at 21:22
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    From the list of off-topic questions: "Requests for specific service provider recommendations; e.g. asking where to get a loan, what broker to use, etc." money.stackexchange.com/help/on-topic – RonJohn Sep 21 at 21:24
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    Did you mean April 2020? – chepner Sep 21 at 21:55
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    @ScottSkiles Because the bridge loan can take your house (old or new) if you don't pay up. They cannot take your lost job. – ceejayoz Sep 21 at 22:53
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    @ScottSkiles You can always ask. They can always say no. You've indicated you're already overextended credit-wise; my first question to you would be "why don't you get a bank loan", and your answer would probably make me want a lot more than $1k in interest to offset the risk. – ceejayoz Sep 21 at 23:35
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You are looking for something similar to loans when there is a structured settlement. This is generally done when a person is receiving payments spread over many years, but they want to receive the money now instead of a monthly or annual check for many years to come.

Your situation is different because your payout next year isn't 100% guaranteed. That would mean that they would have to compensate for this risk by charging you a higher rate by giving you less money now. The current situation where you already unable to get a loan would make them unlikely to enter this agreement, because if the bonus doesn't happen you will probably struggle to pay them back.

Normally the payments are guaranteed because they are backed by a court, or if it is prize money there is an annuity that is paying out the monthly payments. There are situations where musicians have sold their future royalties, or professional athletes have sold their future earnings; but these have not always worked out and they end up in court.

I would start looking at the companies that offer loans for structured settlement. You will have to decide if the terms they are willing to agree to make sense for you.

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