Mini Perm

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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 ?
The construction loan provides for 36 months of construction/stabilization with a four year mini-perm option term, and the lender underwrote to 70% loan to cost.
We built in a longer initial term with extension providing more of a mini-perm option without sacrificing the very low floating-rate or any other terms of the loan.
If project bonds are not available as a financing option for the construction phase of a project, they can nonetheless be incorporated as a potential element of a project's financing mix at a later stage through a mini-perm funding structure.
9 million construction and mini-perm loan for DuPage Dodge-Chrysler-Jeep, Glendale Heights, Illinois, in December.
Additionally, Solera offers a full line of other real estate related financing options such as home equity loans and lines of credit, residential mini-perm loans and jumbo loans.
Hard mini-perm is a structure where legal maturity is typically set at about seven years, forcing the borrower to refinance before maturity or face default.
The loan is an eight-year mini-perm, the first time such a structure has been used to finance a Middle East power project.
More than 70% of the $1 billion which Specialty Finance Group anticipates lending to the hotel industry in 2007 will take the shape of construction/ mini-perm loans to projects with top tier brands and development teams.
We're real heavy in the dirt development and then following that up with the interim construction to mini-perm financing on the commercial buildings as well," Lynch said.
Table 2 shows the coefficients of safety and the net present values on both a construction/mini-perm loan and a mini-perm using the following underwriting standards:
A10 Capital, LLC is a full service, nationwide lending business specializing in small to middle market mini-perm commercial mortgage loans.
64 billion in senior debt financing for the third train is being provided by a syndicate of 27 commercial banks under a 7-year mini-perm construction facility.