What Term Applies to Third-Party Financing That Is Used Between

question 12

Multiple Choice

What term applies to third-party financing that is used between funds 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:

Proclamation

An official or public announcement, often made by a government or authoritative figure, declaring a decision or intention.

Clashes

Conflicts or confrontations that may occur between differing groups, ideologies, or nations.

Native Americans

The indigenous peoples of the United States, including American Indians and Alaska Natives, with distinct cultures, languages, and histories.

Iroquois Confederacy

A powerful and influential union of six Native American nations primarily located in what is now the northeastern United States and southeastern Canada, known for their sophisticated political system and role in trade and conflicts.