Long-term permanent financing. In the usual large construction project, the developer obtains two types of financing. The first is the interim loan, a short-term loan to cover construction costs. Before lending any money, however, the interim lender normally requires a commitment by a permanent lender to agree to "take out" the interim lender in which the lender pays off the construction loan and leaves the developer with a permanent long-term loan when the building has been completed.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). take-out financing. Retrieved September 20, 2026, from http://smartdefine.org/take-out_financing/definitions/1164785 |
| Chicago | Barry Goldsmith. 2010. "take-out financing" http://smartdefine.org/take-out_financing/definitions/1164785 (accessed September 20, 2026). |
| Harvard | Barry Goldsmith 2010, take-out financing, Smart Define, viewed 20 September, 2026, <http://smartdefine.org/take-out_financing/definitions/1164785>. |
| MLA | Barry Goldsmith. "take-out financing" 21 October 2010. Web. 20 September 2026. <http://smartdefine.org/take-out_financing/definitions/1164785> |