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LSDefine

Simple English definitions for legal terms

construction financing

Read a random definition: R.G.

A quick definition of construction financing:

Construction financing is a way to get money to build something, like a house or a big building. It's a short-term loan that helps pay for things like construction costs until a permanent loan can be obtained. This type of financing is also called interim financing. There are other ways to get money for projects, like selling stocks or bonds (called outside financing) or using money generated by a company's operations (called internal financing).

A more thorough explanation:

Definition: Construction financing is a type of interim financing used to cover the costs of building a new structure or renovating an existing one until permanent financing can be obtained. It is a short-term loan secured to cover certain major expenditures, such as construction costs, until permanent financing is obtained.

Examples:

  • A developer needs to build a new apartment complex but does not have enough money to cover the construction costs. They obtain construction financing to cover the costs of building the complex until they can secure permanent financing.
  • A business owner wants to renovate their store but does not have the funds to do so. They obtain construction financing to cover the costs of the renovation until they can secure permanent financing.

These examples illustrate how construction financing is used to cover the costs of building or renovating a structure until permanent financing can be obtained. It is a short-term solution that allows developers and business owners to start their projects without having to wait until they have all the necessary funds.

construction contract | constructive abandonment

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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