Term typically used in Development Finance, referring to the period of time within the Loan Term that is allotted to the building of the site. When the land is being purchased the Land Loan will complete, and the Build Loan will be drawn on a Stage Release Payment basis to pay the Contracted Construction Costs. The Build Loan typically draws down within 1 or 2 months of the land acquisition completing, and then after the Build Loan is fully drawn and the works are complete, the remaining Loan Term (often referred to as the Sales Period) allows time for the end units to be sold. It is the Build Term, plus the Sales Period, that will make up the Loan Term of a Development Loan.
