If your new facility is part of your marketing program to parents, it must be functional by August. If Mom drives up to your school and the facility is not as billed, she will keep right on driving taking the revenue with her. We know of no contractors that will start construction without knowing when they will get paid. If a factory manufacture classroom type of a project can take six months to have in place, you will need money in February. This bond issuance process can take every bit of ninety days and in most cases a good deal longer.
Lenders sit waiting for real estate borrowers who are up against closing deadlines.
Because of the panic these deadlines impose on the buyers, there is an increase in the cost of borrowing. If your circumstances warrant that a real estate type of loan is the best solution for your school, effective modeling would have indicated this early on and you would not approach a mutual fund.