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Topic: Gap financing

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	FINANCING IN GAP
		The financing needs of public investments that must be made for attaining the targets and magnitudes bet by the GAP Master Plan for the period 1990-2005 is 22 quadrillion, 505 trillion and 859 billion TL at 2002 fixed prices.
		GAP investments consist of the combination of various projects and activities conducted by different organizations and agencies in economic and social sectors.
		Looking at the trend of GAP investments in the period 1990-2001, it is observed that the region has an average annual share of 7% in total investment allocations.
	www.gap.gov.tr /English/finans.html (398 words)

	Gap Financing - Local Government Involvment (Site not responding. Last check: 2007-10-20)
		Gap financing and local government involvement in the financing and development of affordable housing.
		Gap financing is often the element that contributes to either the success or the problem in finding a market for the multi-family mortgages.
		Typically, the gap between the project costs and the combination of the first mortgage and total equity is filled by several sources of funds, involving several players.
	members.tripod.com /ocs_group/ocsamericancompaniesii/id17.html (446 words)

	GAP Components
		The Study for the “Development of Regional Transportation and Infrastructure” conducted by the GAP Administration in 1992 identified the prospective spatial distribution of industries, prepared the environmental plans for 9 areas expected to grow rapidly, and allocated sites for industries to be generated with the progress of the project.
		GAP President I.H.Olcay Unver, Ph.D. Is presently a member of the Board of Governors of the Council and Chairperson of its Finance Committee.
		The GAP Administration was also able to secure 2,9 million US Dollars worth of grant from some finance agencies to be used for the project.
	www.adiyamanli.org /gap/gap_components.htm (2196 words)

	seller paper - Bank of America Business Capital - acquisition financing
		Back in leaner times for the financing markets, it was not uncommon to see seller paper fill the gap in the capital structure after traditional financing sources had been exhausted.
		Financing of Last Resort for Buyer—Seller paper is sometimes used to fill the gap between the targeted purchase price for an acquisition and the amount of financing available from third party financing sources.
		Both the holding company paper and the third party financing at the operating company level need to be carefully designed to match the cash pay obligations at the holding company with the operating company's ability to pay dividends to service the obligations.
	www.bofabusinesscapital.com /resources/capeyes/a11-05-314.html (1476 words)

	SBA Financing and Small Business Loans - Apply Here!
		SBA Financing Loans are low interest loans guaranteed by the government.
		Not everybody has time to do all that is necessary to carry it out to completion.
		A sba government loan is no insurance against failure, but if you are looking for a lender or lending service, the US government can help by guaranteeing the loan.
	www.wallstreetcapitalfinancing.com /sbafinancing.html (680 words)

	Gap Analysis - Affordable Housing - CPD - HUD (Site not responding. Last check: 2007-10-20)
		The Gap in Financing, shown at the bottom of the Excel worksheet, is the difference between total development uses and total funding sources.
		A positive value for the gap in financing indicates that the project is not feasible - development costs and points costs exceed the availability of funding.
		A negative value for the gap in financing indicates that the project is oversubsidized using HOME funds.
	www.hud.gov /offices/cpd/affordablehousing/training/web/underwriting/gapanalysis (436 words)

	[No title]
		Gap insurance for single pictures is becoming as rare as 8 track tapes as insurance companies rethink their strategies, producers consider the cost of such programs and sales agents come to grips with the practical viability of the estimates needed to support such loans.
		Given the realities of the marketplace, namely that many films today can't even repay their bank financed gap loan, let alone a budget even greater than that, most of the single picture insurance backed transactions are doomed to failure.
		The decrease in bank funding and gap insurance policies, the dissolution of sales agents, and independent producers not being able to get their projects off the ground, is all part of the bloodletting process that will help reduce the supply of films.
	www.rmslaw.com /word/art90.doc (2160 words)

	PDC Housing Development : Equity Gap Contributions
		An Equity Gap Contribution (EGC) provides construction and/or bridge financing, that either partially or fully converts to term financing and is designed to work in conjunction with other public and private financing sources.
		An EGC is a "last resort" financing product and will be used only when other financing has been maximized and the housing project does not generate sufficient cash flow (after operating expenses and required senior debt service) to allow regular loan payments to the PDC.
		The Equity Gap Contribution Agreement is recorded to evidence the project sponsor's obligation, although it is not a lien against the property.
	www.pdc.us /housing_serv/hsg_development/equity-gap.asp (1114 words)

	DMPED: Financing the Gap
		The District and its advisors have estimated, on a preliminary basis that is subject to change, total project costs of approximately $558 million to fund the redevelopment of the Northwest One neighborhood, in addition to required funding for a new school and other public amenities.
		The District's proposed financing strategy is to first maximize all available private capital as well as capital available from or subsidized by the federal government.
		The Mayor plans to return to the DC Council during the FY 2007 budget cycle to request the authority to securitize an additional $6 million of the Trust Fund to fill the anticipated gap on this affordable housing project.
	dcbiz.dc.gov /dmped/cwp/view,a,1366,q,603081.asp (383 words)

	IRMI - Probing the Gaps in GAP Insurance
		GAP contracts pay the difference between what a primary insurer pays in the event of a total vehicle loss, including theft, and the outstanding loan balance on the vehicle.
		In contrast, GAP arrangements with vehicle dealers may include a rate that apparently consists of the insurer's rate on file with regulators but may also be accompanied by a "suggested retail price" to be charged by the vehicle dealer.
		Fifth, a GAP contract may include a provision for resolving a claim in the event that a debtor's primary insurance is not in effect.
	www.irmi.com /Expert/Articles/2005/Ryles06.aspx (1582 words)

	Pre-Selling Coproductions With A Twist
		Morgan Rector, head of Imperial Bank's entertainment lending division, one of the leading providers of gap financing, tells me that the decision to finance the domestic gap, as opposed to a gap in key international markets, is something that can only be done on a case by case basis.
		According to Morgan, "gap financing a domestic shortfall of $300,000 to $400,000 of a $2 million dollar budgeted film really depends on the talent attached." Obviously, certain talent would enhance the ability to obtain a domestic video and cable deal while other talent might not reasonably justify such numbers.
		This is not to say that a gap financing credit facility is impossible, only that the nature of the gap would have to be evaluated on a case by case basis.
	www.rmslaw.com /articles/art50.htm (1400 words)

	NCPA - Policy Report 253 - Social Security Reform Around the World: Lessons from Other Countries
		This creates a temporary financing gap between the remaining pay-as-you-go revenues and the revenues needed to cover the current obligations of the old system.
		This short-run gap due to the reallocation of the payroll tax to the accounts is known as the transition cost problem.
		Countries that finance their funded pillar by adding an extra contribution rather than diverting money that was originally slated for the pay-as-you-go pillar (an "add-on" as opposed to a "carve-out") do not face this problem.
	www.ncpa.org /pub/st/st253/st253h.html (2608 words)

	Playback - Articles - Gap financing in Canada
		In the film and television industry, the term "gap" typically refers to the difference between the production budget for a project and the total amount of contingent or anticipated sources of funding obtained to date.
		Gaps are typically reduced by future or anticipated sales to distributors in either domestic or foreign markets.
		Traditionally, banks will provide production interim financing if they know there are enough presale commitments and other sources of funding to meet the production budget (i.e., there is no gap) and that the producer has obtained a completion guarantee or bond for the benefit of the bank.
	www.playbackmag.com /articles/magazine/19990906/26612.html (529 words)

	BOF - indie films - May 2002
		The possible financing benefits that come from these new sources are overshadowed by the down scaling of continued German funding, the UK government’s limitations on UK sale leasebacks, as applied to UK/Canadian co-productions, and a dearth of presale activity.
		So the banks have reduced their level of gap financing, and correspondingly the level of risk they are assuming, at the same time as the buyers have reduced their presale appetite.
		The banks that provide gap financing do so based on their analysis of the film’s commerciality (using their past experiences, not subjective determinations), the reputation of the sales agent in meeting sales estimates, analysis of the current market, and sales estimates for the film.
	www.thefilmlaw.com /art2003finance.htm (1555 words)

	Gap Financing - Affordable Housing - CPD - HUD (Site not responding. Last check: 2007-10-20)
		HOME funds may be used to help close part or all of the funding "gap" that remains for a LIHTC-funded project after the sale of tax credits and mortgage financing have been determined.
		Therefore, it is the responsibility of HOME participating jurisdictions (PJs) to calculate the extent of gap financing needed while considering other public subsidies involved in the project.
		In such cases, it is recommended that PJs coordinate with the LIHTC administering agency to obtain a complete understanding of the financing involved.
	www.hud.gov /offices/cpd/affordablehousing/training/web/lihtc/homefunds/gapfinancing.cfm (943 words)

	Fast, creative bridge and mezzanine loans.
		Borrowers looking for financing beyond what senior lenders will provide increasingly are turning to mezzanine financing, which fills the gap between a senior loan provided by a lender and the amount of equity the borrower is able to contribute to a project.
		Other mezzanine financing options include junior debt that is secured by a partnership interest, and a preferred equity structure in which the lender makes a capital contribution to the borrower in exchange for an equity share in the property.
		Mezzanine financing also is attractive to investors who want to avoid tying up a lot of their own money in a deal.
	www.meecorp.com /editorial_nrei.html (1740 words)

	CorpWatch : US: Gap Admits Strategic Errors After $34m Loss
		Gap pledged to return to "simple" fashions and go back to its roots as a retailer of casualwear such as white T-shirts and denim jeans.
		With her appointment, Gap will split its adult merchandising unit into a men's and a women's division, in a bid to better pinpoint fashion trends along gender lines.
		Gap's attempt to break out of two years of earnings disappointments were again thwarted on Tuesday when it reported the fourth-quarter loss.
	www.corpwatch.org /article.php?id=1876 (556 words)

	FDIC: FDIC Outlook - Fall 2004
		This sharp rise in the financing gap was most pronounced in the telecommunications sector.
		Because of these factors, a company's or an industry's financing gap should be viewed as a necessary, if not sufficient, predicate to bank borrowing.
		Total C&I loan demand is assumed to be the sum of capital expenditures and the change in inventories during the period for firms with a positive financing gap.
	www.fdic.gov /bank/analytical/regional/ro20043q/na/2004fall_02.html (1818 words)

	Business Financing Programs for Manufacturers and Other Large Users in the State of Ohio, CDFS-1551-96
		Financing programs available through the public sector can be a useful tool for manufacturers in their efforts to establish or expand operations in the State of Ohio.
		"Gap" financing fills the void between the cost of the project and the total amount of funds that the business has available from other sources, such as owner's cash and bank loans.
		In addition, public sector loans are often used to lower the initial financing cost of a business expansion or location to assure a favorable rate of return on investment.
	ohioline.osu.edu /cd-fact/1551.html (942 words)

	Can the Financing Gap Be Closed? - Global Policy Forum - Social and Economic Policy
		The panel, chaired by former Mexican President Ernesto Zedillo, was set up by UN Secretary-General Kofi Annan to identify innovative methods for raising the estimated $50 bn needed yearly to implement the UN's commitments to poverty reduction and sustainable growth in developing countries.
		Its recommendations will be considered by the UN conference on financing for development, to be held in Monterrey, Mexico, in March 2002.
		Members agreed that reversing the widening and "shameful" gap between rich and poor countries "is the pre-eminent moral and humanitarian challenge of our age." And sub-Saharan Africa, they noted, should be a priority.
	www.globalpolicy.org /socecon/glotax/currtax/2001/1200gap.htm (1720 words)

	City of Boston Obtains $40 million from HUD Specifically for Hotel Projects; Loan Pool Designed to Speed Up Stalled ...
		Worried that tighter bank lending has stalled momentum on a half-dozen planned hotels, city officials are moving to provide "gap financing" to speed up a few big lodging projects -- and boost the new Boston Convention and Exhibition Center in the process.
		The loans will fill an approximately 10 percent financing gap for two or three hotel projects, enabling them to break ground within a year.
		Gap financing is needed because traditional lenders have been scaling back on financing for hotels, city officials and developers said.
	www.hotel-online.com /News/PR2003_3rd/Aug03_BostonGapLoans.html (848 words)

	NAHC - National Association of Housing Cooperatives (Site not responding. Last check: 2007-10-20)
		Gap financing provides financing for the difference between the permanent mortgage and the total funds required.
		Gap financing can be provided through the use of a second or third mortgage on the real estate.
		Many of the intermediary lenders and local and state sources of financing are willing to lend their funds as soft loans, thus providing gap financing.
	www.coophousing.org /50plus_ways.shtml (1417 words)

	Small Business Financing Programs in Ohio, CDFS-1226-96
		Public sector finance programs can be a useful tool for small businesses in their efforts to start or grow.
		"Gap" financing fills the void between the total cost of the project and the total amount of funds the borrower has available from other sources such as owner's cash and private bank loans.
		Small businesses utilizing public sector financing should be aware that the loan approval process and credit analysis is similar to that used by banks and other private financial institutions.
	ohioline.osu.edu /cd-fact/1226.html (1162 words)

	Homeownership Assistance Fund HAF Assistance (Site not responding. Last check: 2007-10-20)
		Potential buyer's earning 80% of state median income or less may be eligible for up to $15,000 of GAP financing.
		This is a 0% deferred, second mortgage to bridge the gap of what a borrower mortgage qualifies for to the actual cost of the home.
		Gap financing may also be coupled with USDA RD Direct loans.
	www.cmhp.net /gap.htm (198 words)

	Davis County, Utah
		The purpose of the fund is to provide "gap financing" to establish county businesses to assist with their growth and expansion.
		Gap financing is defined as the difference between the total project cost, the owner's/partner's contribution and what has been borrowed from a lending institution (bank).
		In order to determine the viability of the company, three years of financing statements and/or tax returns are required.
	www.co.davis.ut.us /discoverdavis/incentives/revolving_loan_fund.cfm (426 words)

	The Big Three in Gap Financing
		AHP financing is, by definition, private money and, therefore, does not fall into the category of federal subsidy that would negatively impact the amount of LIHTC available.
		The advantage of CDBG financing is that it can be very low-interest without affecting the availability of LIHTCs to the project, said Wilson.
		Of the three types of financing, Wilson said, AHP financing may be the most competitive.
	www.multi-housingnews.com /multihousing/reports_analysis/feature_display.jsp?vnu_content_id=1001391123 (1387 words)

	commercial construction financing - debt & equity (Site not responding. Last check: 2007-10-20)
		Commercial construction financing requires the sponsor to be realistic about their expectations and requirements.
		The most frequent issue is the equity gap - that portion of the project development budget not provided for by loan funds - and how the sponsor can address this issue.
		This will require some creative structuring on the part of all parties, but can be a powerful source of equity to fill the gap as contractor fees are typically five percent (5.0%) of the construction budget and approximately three percent (3%) of the total development budget.
	www.rainmakermarketing.com /commercial_construction_financing_loans/commercial_construction_financing_loans.htm (626 words)

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