Business Glossary

the right to develop land with government approvals for zoning density, utility installations, occupancy permits, use permits, streets.
Example: A land speculator purchased 500 acres of land in a rurban area , then gained entitlements for the land by working with the town's political workings and engineering personnel. She then sold the land to a developer for a handsome profit.

(VAloan) dollar amount of loan guarantee that the Veterans' Benefit Administration (VA) provides to each eligible veteran. VA loan guarantees are available to military veterans who served in the armed services during specified war periods. The guarantee allows the veteran to borrow money to buy a home without the need for a cash down payment . Generally, lenders will lend up to four times the amount of the entitlement with no cash investment by the borrower.
Example: William served in the army during the Gulf War and received an entitlement of $25,000 toward a VA mortgage. When he applied for a mortgage the bank lent him the entire amount to buy the $100,000 home.