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 ?
Proceeds from the interim financing will be used by the company to fund exploration at the Wyomex Iron Complex project in Albany County, Wyoming and to raise the capital needed to advance exploration and other activities, including scoping, pre-feasibility and feasibility studies at this property.
The company has received interim financing through via convertible loan facility of GBP2.
3,500,000 in interim financing was negotiated by Barry Swartz for an auto service center in Flushing, NY.
GMACCM also provided $65,000,000 in floating-rate interim financing for the Sheraton World Resort in Orlando, Florida.
Such "soft costs" would include, among other things, interest on interim financing (sometimes as high as 30 per cent per annum); finder's fees (sometimes as high as 15 per cent); cost of issue (often $150, 000); legal fees for the prospectus (often as high as $75,000); overhead expenses; certain publicity expenses; broker's commission (which ranged from seven per cent to nine per cent); as well as associate producer fees and the executive producer's fee.
Barry Swartz negotiated $8,700,000 in interim financing for a vacant parking lot on the West Side of Midtown Manhattan.
Arbor Commercial Mortgage, LLC, has announced the rollout of a new interim financing product for seniors housing, providing short-term "bridge" financing.
35 million in interim financing for a parking lot/vacant land to be developed on W.

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