Mini Perm

Mini Perm

In construction and project finance, an informal term for debt financing that is payable over three to five years. Generally speaking, a developer accesses mini perm financing to complete the project to the point where it can begin to produce revenue. The developer then uses the revenue to pay off the mini perm.
References in periodicals archive ?
As a result soft mini-perms have tended to win greater acceptance amongst project participants - for example, a mini perm financing option has most recently featured in the proposed financing for the Abu Dhabi Water and Electricity Authority's Mirfa IWPP.
Preferred Bank categorizes these land loans in its Quarterly Report on Form 10-Q and Annual Report on Form 10-K in the real estate -- mini perm category.
Specialty Finance Group, a subsidiary of The Bankers Bank, announced that they closed a $51 million construction/ mini perm loan with Impact Properties for Impact's Westin Tampa Bay resort project.
Nationally, BlueStone secured over $206 million dollars worth of financing for projects including Magdalina Estates, a 12 unit luxury townhouse development in Punta Gorda, FL, a refinancing loan for the Holiday Inn Apex in Vail, CO, and a debt/ mezzanine construction loan and five year mini perm for the ground up development of a four star Intercontinental Hotel in Rosemont, IL.