swing loan

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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

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.

References in periodicals archive ?
Swing loan demand is inversely proportional to activity in the housing market.
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.
These amendments provide for (i) a limitation on the issuance, extension and renewal of letters of credit (other than renewals which do not increase the amounts thereof) without lender consent, (ii) a limitation on additional revolving credit or swing loan borrowings without lender consent and (iii) a limitation on the creation of guarantees in respect of debt incurred by the Company's joint ventures (subject to certain pending and projected projects), whether or not such financial statements are delivered.
Terms like swing loans with balloon payments and seller participation became part of the real estate deal-making lexicon.