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| Primary coil
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First coil in an electrical transformer. |
| Primary financing
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Loan that comes before all other loans in the event of default. |
| Primary lease
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Rental agreement between the owner and a tenant. When the tenant rents to someone else, it is called a sublease. |
| Primary location
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Real estate which is located in the most excellent area for it's designated use. |
| Primary market area
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A regional area from which one can expect the greatest demand for a specific product or service. |
| Primary metropolitan statistical area (pmsa)
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A classification of the U.S. Census Bureau applied to cities with the following classifications. Within a metropolitan area with a population of one million or more, there may be areas that would qualify as metropolitan areas on their own, yet are linked to other cities in close proximity. These individual areas are called Primary Metropolitan Statistical Areas, while the metropolitan area containing these PMSAs is called a Consolidated Metropolitan Statistical Area (CMSA). |
| Primary mortgage market
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Mortgage market in which original loans are made by lenders. The market is made up with lenders who supply funds directly to borrowers and hold the mortgage until the debt is paid. |
| Prime coat or primer
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The first coat or undercoat that helps bind the top coat to the substrate. |
| Prime contractor
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Contractor who assumes responsibility for completing a construction project, under contract to the owner, and hires, supervises and pays all subcontractors. |
| Prime lending rate
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Minimum short-term interest rate charged by commercial banks to their most creditworthy clients. Prime is used as the basis for mortgages, business and personal loans, etc. Mortgages are usually several points above the prime rate. |
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