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LSDefine

Simple English definitions for legal terms

gap financing

Read a random definition: jus privatum

A quick definition of gap financing:

Gap financing is a type of temporary loan used to fill the gap between two long-term loans. It helps to fund the difference between a current loan and a loan that will be received in the future. For example, if someone needs money to buy a house but is waiting for their old house to sell, they might use gap financing to cover the difference until they receive the money from the sale of their old house.

A more thorough explanation:

Gap financing is a type of interim financing used to fund the difference between a current loan and a loan to be received in the future, especially between two long-term loans. It is a short-term loan that helps bridge the gap between the money needed and the money available.

Suppose a person wants to buy a house, but they have only been approved for a mortgage loan that covers 80% of the house's value. They need to come up with the remaining 20% to complete the purchase. In this case, they can apply for gap financing to cover the difference.

Another example is when a company needs to finance a project, but they have only secured a portion of the required funds. They can use gap financing to cover the remaining amount until they secure permanent financing.

These examples illustrate how gap financing can be used to fill the gap between the money needed and the money available, allowing individuals and companies to complete their projects or purchases.

gantlet | gap period

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[] 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
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
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