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. Prime Contractor Contractor who assumes responsibility for completing a construction project, under contract to the owner, and hires, supervises and pays all subcontractors. Prime Lending Rate 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.
Prime Tenant Major tenant in an office building or shopping center. The prime tenant occupies more space than the others and will attract customers to the site. They are normally more credit worthy. Primer Initial coat of paint or sealant applied to a surface in preparation for painting. The primer seals the surface and provides a good base for additional coats of paint or other material.