interim financing

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Related to Interim Loan: Construction loan, Take Out Loan

Interim financing

A short-term loan made to a company on the condition that a takeout will follow with long-term or intermediate financing.

Interim Financing

A short-term loan intended to maintain a company's operations while it makes arrangements for longer-term financing. For example, a start-up may take out a loan for a few months while it prepares its initial public offering.

interim financing

The financing that supports a transaction until permanent financing can be arranged.

interim financing

A short-term loan arranged in order to buy time until something changes. At the end of the original construction loan period, a developer may wish to seek interim financing rather than permanent financing because of an expectation that interest rates will fall in the future, or because the developer's plans have changed and the property will be sold rather than retained. The problem with permanent financing and many development projects is the existence of very large prepayment penalties—one cannot simply refinance when interest rates go down or simply pay off the loan when there is a sale. A borrower may also seek interim financing because the borrower's financial strength, or that of income-producing property serving as collateral, is not currently sufficient to justify attractive financing terms.

References in periodicals archive ?
The on-balance sheet INTERIM LOAN PORTFOLIO, which is comprised of loans for which we have full risk of loss, was $347.
This is the second transaction that the Focus/Artemis joint venture has completed through our interim loan program.
Working on behalf of the borrower, a joint venture between CNL Commercial Real Estate and Long Wharf Real Estate Partners, HFF placed the interim loan with a portfolio lender.
The senior construction loan was financed in along with an SBA 504 interim loan to build a 78-key Choice Ascend hotel.
However, the six fund managers do not include Liverpool-based Alliance Fund Managers (AFM) which has been running the interim loan fund for the past few months.
Plenge has closed over $1 billion in loans for apartment and commercial property owners with Fannie Mae, Freddie Mac, life insurance companies, and commercial banks and has utilized Walker & Dunlop's Interim Loan Program to provide bridge financing for a number of clients purchasing pre-stabilized assets.
provided $14,500,000 in bridge financing through the company's Interim Loan Program to AFC Forsgate Owner, LLC for the refinance of Chelsea at Forsgate.
In a bankruptcy court hearing Tuesday, lawyers for Shelbourne said that in spite of the previous interim loan deal it had inked with Northbrook-based Atlas, it would instead seek court approval to have Related offer the loan.
Now AFM has revealed its first two interim loan awards worth pounds 225,000 and Prentonbased conveyor manufacturer Sovex, which boasts clients such as Parcelforce Worldwide, DHL and Toys R Us, has received pounds 100,000.
Michael Volpe closed an interim loan in the mount of $1,200,000 for an 18 family building and a 12 family building on Steuben Street in Brooklyn.
Walker & Dunlop s proprietary Interim Loan Program provides financing for multifamily properties that do not currently qualify for permanent financing.
In these cases, we can provide the interim loan and help get the loan done for both the lender and the small business," he added.

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