Construction loan

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Construction loan

An interim loan of money secured by a negotiable bond or mortgage, or trust deed. The money obtained is intended to defray the cost of the building to be erected. Usually advanced in specified sums during the progress of construction. After completion, the loan is often converted into a long-term loan.

construction loan

A loan to a builder for a short term, financing construction prior to permanent financing.
References in periodicals archive ?
I gave a presentation on the second day on practice ethics facing the CLN.
Honorable Mention (70-79 points) Category: Print Media -- Design -- Publication Overall CLN, July 2014 issue
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The CLN publishes a monthly newsletter to communicate progress on the plan.
Transaction information for the above CLN is available to the public on the CDO S.
The project is to finance CLN s operations in South Africa.
The connection with Basis 100 will give lenders the ability to send legal instructions, with the "click of a button", to any lawyer that is part of the CLN network.
Dah Yu Cheng, is the inventor of the Cheng Cycle([R]) (steam injected gas turbine), CLN (emission control technology) and fluid systems devices, etc.
CDN and CLN are both rail logistic companies established by Vale Mozambique and Portos e Caminhos de Ferro de Mocambique, the parastatal authority that oversees the railway system of Mozambique and its connected ports.
Fitch's CLN Matrix was created to simplify the analysis of risk in transactions when two to three risk-presenting entities are involved, such as those present in most CLNs.