Author: Steve Meredith, Manager, Business Finance.

On several occasions throughout the year, I will have a promising opportunity come across my desk, only to fall apart because the timeline for my organization’s economic development loans does not fit with what the client needs. While I can certainly understand the need to be flexible and work with clients, their sellers, and other financial institutions, there are a few aspects of economic development lending that can delay closing on publicly funded loans. This results in a tricky “dance,” in which economic development lenders, their borrowers, sellers, and often private lending institutions must participate to ensure the best interest rates and terms for small business clients.