A lender explains how they rescue stalled construction projects with bailout loans that pay off existing debt and supply finishing capital. The borrower gets their project completed; the lender gains a long-term client.
You know, we talked about bailout loans earlier. Yeah, yeah, yeah. Mid, mid-construction, they, they got in for whatever reason, they ran out of money, they didn't vet the project well enough, but it is where it is. We literally get 'em outta that, get 'em a new loan, pay off their existing loan, get 'em the money they need to finish, and then we get 'em to the table and then they become a client for life. Well, now they're grateful.
