construction loan


noun Finance.

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

takeout

or take-out

[teyk-out]

noun

the act or fact of taking out.
something made to be taken out, especially food prepared in a store or restaurant to be carried out for consumption elsewhere.
Informal. a store, restaurant, or counter specializing in preparing food meant to be carried out for consumption elsewhere.
a section, as of a magazine, that may be removed intact, usually consisting of a story, article, or set of illustrations.
Also called takedown, takeout loan, takeout mortgage. Finance. a long-term real-estate mortgage arranged for a building the construction of which is financed by an interim short-term loan (construction loan).
Cards.
  1. Bridge.a bid in a suit or denomination different from the one bid by one's partner.
  2. Poker.the minimum with which a player can begin.

adjective

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
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019

Word Origin and History for construction loan

takeout

adj.

in reference to food prepared at a restaurant but not eaten there, 1941, from take (v.) + out. British equivalent takeaway is recorded from 1964.

Online Etymology Dictionary, © 2010 Douglas Harper