construction loan

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Construction loan

A short-term loan to finance building costs.

Construction Loan

A short-term loan used to finance the building of some real estate project. The builders take out a construction loan in order to begin the project while they obtain long-term funding. Because there is no guarantee that the builders will be able to obtain long-term funding and a construction loan is not intended to fund an entire project, construction loans are fairly risky, and, as a result, have high interest rates.

construction loan

A short-term mortgage taken to finance the construction of a real estate project before permanent long-term financing is obtained. Because of its relatively high return, some real estate investment trusts specialize in this type of loan. Construction loans are often more risky than long-term mortgages.

construction loan

A loan originated for the purposes of providing payment for construction work or subdivision development.See also building loan agreement.
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Accordingly the full 12,969,219 (at par value) of the CLNs have now been converted into ordinary shares (including accrued interest), resulting in the issue of 27,645,013 new ordinary shares in the Company.
Otherwise, the CLN would be effective 1986, erasing his US citizenship.
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The CLN publishes a monthly newsletter to communicate progress on the plan.
These were the words of a jubilant Liezl Jane Rigunay when asked about her reaction upon winning the top prize of the raffle promo by CLN, one of the country's leading shoes, bags, apparel and accessories brands.