For example, a bank may agree to advance 70% of the total project cost, with the balance of 30% to be released upon the project achieving certain milestones. These milestones typically include a successful sale or lease of the majority of the project's units, obtaining an occupancy permit, etc.
Investment dictionary. Academic. 2012.
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Floor loan — is mostly associated with mortgage and property loans.It is the minimum amount of money a lender is willing to provide on a commercial loan for a building that is to be tenant occupied. This loan is progressively funded as the building is… … Wikipedia
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