swing loan

Definition

Short-term financing which is expected to be paid back relatively quickly, such as by a subsequent longer-term loan. also called bridge loan or bridge financing.

Use swing loan in a sentence

It was a swing loan that they were doing and everything was going well for everyone as planned and we were very happy.

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In order to temporarily and urgently secure financing, we will use a swing loan in the meantime until we find a lender with a better rate for a long term loan.

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People that flip foreclosed houses often use short term swing loans to secure the property while they establish long term financing, which is often more expensive due to risk but allows them to quickly act to take properties off the market.

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