What Term Applies to the Use of Third-Party Financing That

question 12

Multiple Choice

What term applies to the use of third-party financing that is used between funding advanced by the permanent lender and funds needed to repay the construction loan?

• A) Interim Loan
• B) Mini-perm financing
• C) Gap financing
• D) Partial financing

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Definitions:

Production

The process of creating, manufacturing, or producing goods and services, often involving a series of operations or stages.

Inventory

The total amount of goods and materials held in stock by a company, warehouse, or store.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices.

Finishing Hour

The specific time at which a task, event, or work shift is completed.