NewPoint Real Estate Capital has launched a new bridge lending program tailored for multifamily investors looking for short-term interim financing.

According to NewPoint’s release, the new program offers flexible terms and prepayment provisions and waives exit fees when loans are refinanced through one of NewPoint’s permanent financing options. It provides $5 million to $50 million with terms up to five years, focusing on light to moderate transitional multifamily properties.

NewPoint said that the multifamily bridge lending program is the first of numerous products the company plans to bring to the market as it continues to innovate and expand its product suite.