Interim construction loan

Loan granted by a bank to finance a construction project. After completion and official acceptance (acceptance of construction work, final acceptance; in Austria and Switzerland, acceptance of buildings and facilities is called collaudation) of the construction work, the loans granted up to that point are usually combined into a final construction loan (takeout loan). – See construction completion loan commitment, construction completion insurance, real estate loan restriction, estimate, low held.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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