interim financing


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Related to interim financing: bridge 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 company has received interim financing through via convertible loan facility of GBP2.5m.
RadView executed a bridge loan with Fortissimo in January 2006 to provide interim financing of up to USD500,000.
Finally, KGI assisted new management in completing a sale of one of its entities, coupled with $49 million of interim financing that bought the company time, until mid-September, to turn around.
Among the financing requested is a long-term loan for a boutique hotel in Manhattan; interim financing of a newly constructed Hilton Garden Inn; and highly leveraged, construction/permanent lending financing for a Holiday Inn Express.
United Airlines must meet strict benchmark requirements showing financial progress throughout bankruptcy or risk defaulting on its USD1.5bn in interim financing, reported The Associated Press.
The town has a boot company and a mushroom plant, and Phillips thinks he might be able to convince them to supply a $30,000 loan or gift as interim financing for one of his trashy masterpieces.
However, it appears that the parties always intended the first agreement to be an interim financing arrangement that would be changed (in a relatively short time) into more permanent financing.
* Iridium LLC has secured interim financing in an effort to expedite the transition of its assets and personnel to a new operating company.
The interim financing has a floating interest rate and an interest-only amortization.
Interim financing was widely available and virtually all film units offered to the public were purchased.
The Jakarta Initiative is setting guidelines for negotiations designed to promote the availability of interim financing to companies being restructured.
The Council of Ministers of Bosnia and Herzegovina today unanimously adopted the Decision on Interim Financing of the BiH Institutions and International Commitments for the period July - September 2019.

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