Sponsors often treat approvals and financing as two separate tracks: get entitled, then go find the money. The two are more closely linked than that, and treating them separately is one of the most common reasons timelines slip.
Everything is interconnected
You have to have all the pieces set up before you can go get the capital. The regulatory items have to be perfected. The pro forma has to be done right. The approvals have to be set in place.
Marco Howington, President and Co-Founder
There is a gap between an approval and the moment capital can fund against it. Lenders will not close until conditions are satisfied, and those conditions depend on the approval path. Knowing how the two interact is what allows a realistic schedule.
Plan for the real timeline
Approval processes tend to take longer than promised. A single session can become several. A three month estimate can stretch well beyond that. Building those realities into the plan protects the financing, because capital providers respond far better to a clear explanation and a resolution than to a surprise.
When the plan is realistic, some steps can run in parallel. Design adjustments, approval hearings and lender diligence can move at the same time rather than one after another, which is often the difference between meeting a closing date and missing it.
Start earlier than you think
The most avoidable problem we see is a sponsor who needs capital immediately but has not prepared the approvals, documentation or structure to support it. Starting the conversation early gives time to sequence the work properly.
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