Delayed draw term loan

Delayed draw term loan,

Definition of Delayed draw term loan:

  1. A term loan feature which allows a borrower to withdraw certain amounts of the total approved loan at predefined times. For instance, a borrower may be allowed to withdraw $100,000 every three months on a total loan of $1,000,000. This feature is most likely to be offered to firms with outstanding credit ratings.

Meaning of Delayed draw term loan & Delayed draw term loan Definition