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The SBA defines the Third-Party Loan as a loan from a commercial or private lender, investor, or Federal (non-SBA), State, or local government source that is part of the project financing. So while it's rare, the Third-Party Loan could be from an individual or government source.

A seller financing addendum outlines the terms under which the seller of a property agrees to loan money to the buyer in order to purchase their property.

The Third-Party Financing refers solely to debt financing. The project financing comes from a third party, usually a financial institution or other investor, or the ESCO, which is not the user or customer.

A third (3rd) party financing addendum is attached to a sales contract that outlines the terms of a loan (e.g., conventional, FHA, VA) that is agreeable to the buyer in order to close on the property. The sales contract is usually contingent upon the buyer receiving the loan as detailed in the addendum.

A seller financing addendum outlines the terms under which the seller of a property agrees to loan money to the buyer in order to purchase their property.

N. a person who is not a party to a contract or a transaction, but has an involvement (such as a buyer from one of the parties, was present when the agreement was signed, or made an offer that was rejected).

The Third Party Financing Addendum is designed to limit the maximum amount of interest and loan fees that a buyer would be obligated to pay as part of his loan contingency.

The FHA Financing Addendum is a document that must be filled out prior to the extension of an FHA-insured mortgage. This agreement is made between the buyer and the seller of the property in question.

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Illinois Third Party Financing Agreement Workform

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