interim financing

(redirected from Interim Loan)
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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 ?
And those clients taking interim loans will be not entitled to a premium.
As of September 30, 2016, the balance of the interim loan portfolio was USD265 million, and the balance of the preferred equity investments was USD15.
Panta provided an interim loan of approximately CAD1.
A day later the court was allowed it an interim loan of $206 million of the $600 million in debtor-in-possession financing.
We could have borrowed (the $168,028), but because we didn't take an interim loan until later in the year, there was no interest costs to the sewer fund this year for this project," Treasurer Melinda R.
It said, "We have approved an interim loan in file amount of $272,000 interim the land acquisition of the project.
According to a New York Times report, Fleming arranged a $50-million interim loan from J.
State Treasurer Phil Angelides, a potential future gubernatorial candidate himself, put out a terse statement Tuesday blaming the PUC for the bridge loan reverting to a higher-interest, three-year obligation, although offering the silver lining that the state technically will not be found in default on the old, interim loan, so the state's credit rating, which has been lowered because of the electricity financing woes in recent months, may escape further decline.
Our interim loan program requires us to include an exit fee, which is waived if GMAC provides the permanent financing.
3 million from Columbia Pictures, and $200,000 from the CFDC as an interim loan.
Dulay that the settlement sum would be funded by an interim loan from JTI Philippines as well as proceeds from the sale of its manufacturing and distribution business.
The firm structured the loan using its interim loan program thereby providing time for the borrower to further stabilize operations and enhance value prior to conversion to a permanent U.

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