noun
- the provision of funds or credit before a project begins or before regular financing becomes available
Usage: business; finance
Examples
- The startup secured prefinancing to cover initial development costs.
- Prefinancing helped the company launch production before receiving the main loan.
- The bank offered prefinancing options for qualified borrowers.
- Without prefinancing, the project would have been delayed by months.
- The prefinancing agreement covered equipment purchases and staff salaries.
- Many construction projects rely on prefinancing to get started.