swing loan

Related to swing loan: bridge loan

Bridge Loan

A loan for a short-term period, usually two weeks to three years, until long-term financing can be arranged or an obligation is removed. Interest rates are relatively high, often 12-15%. Bridge loans are used to satisfy working capital needs; for example, if a company is arranging for an IPO or a bond issue in the coming months, but needs capital before then, it may take out a bridge loan. In doing so, it will plan to pay back the bridge loan with the money raised in the longer-term financing.

swing loan

See bridge loan.

swing loan

A short-term loan that allows homeowners to buy a new home even though their old one has not yet sold.

Swing Loan

Same as Bridge Loan.

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References in periodicals archive ?

If the old house has still not sold, the swing loan can be renewed for another six months, generally with a fee and sometimes with a small principal reduction.

Stocking a full line

In addition, survey results show that fewer companies are guaranteeing a sale price for an employee's former residence, paying fees connected with the purchase or sale of an employee's home, and helping with the arrangements of a mortgage or swing loan.

Companies spend more on relocation counseling, less on relocation perks according to latest Atlas Van Lines corporate relocation survey

It offers personal banking products and services, including checking, savings, money market, and individual retirement accounts, as well as certificates of deposit; and loans and lines of credits, such as personal, home equity, auto, and swing loans.