construction loan

noun Finance.

a short-term loan to finance the building phase of a real-estate project.

Definition for construction loan (2 of 2)


or take-out

[ teyk-out ]
/ ˈteɪkˌaʊt /



pertaining to or supplying food and drink to be taken out and consumed elsewhere: the takeout window of a restaurant.
Also takedown. of, relating to, or providing a takeout mortgage: The high-rise developer has found a takeout commitment from a large insurance company.

Origin of takeout

First recorded in 1915–20; noun use of verb phrase take out Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020