Cohousing-L Mailing List: what are take out loans?

[River Snow (seanain]

You can tell from my question that I haven't gone through a development 
project before, but I've been following many threads to be ready, 
someday, or at least more ready.

I understand the idea of a construction loan, but what is a take out 
loan? (I am seeing images of Chinese food take-out as a child, our 
family ritual on many a Friday night, and laughing.)

Thanks,
River