Which of the following loans are used for financing unique, specialized, and/or expensive tenant improvement costs?

Leasehold loans are specifically designed to finance tenant improvements that are unique, specialized, or costly. These loans are associated with properties where the tenant has a leasehold interest, meaning they have the right to occupy and use the space under a lease agreement. Such financing is often necessary when tenants undertake significant renovations or improvements to adapt the space to their specific business needs.

In this context, leasehold loans enable tenants to invest in customizing their rented spaces, which might include building out specialized facilities, upgrading infrastructure, or enhancing the overall aesthetic to meet their operational requirements. This financing is vital because it supports the tenant's ability to create a functional and appealing environment that can drive their business success while acknowledging the fact that the improvements are made within a space that is not owned by the tenant.