Lead with the project’s purpose, sequence and exit. The structure should follow the story, not a headline number.
The project behind the request
A request for finance often starts with a number. There is a property to acquire, a construction program to fund or an existing facility approaching maturity. The amount is easy to put at the top of a page. The context takes more work.
Creditwright’s starting point is the commercial purpose. What needs to happen during the life of the facility? Which milestones matter? What is already established, and what still depends on a future decision or event? These questions give the funding conversation a useful shape.
Make the sequence visible
Consider an illustrative development moving from construction into completed stock. Completion, titles, buyer settlements and repayment are connected, but they are separate events. A useful credit narrative sets out that sequence and identifies the evidence supporting each step.
The discussion then becomes more precise. The parties can examine how the proposed term relates to the program, which conditions need to be satisfied and what the repayment pathway depends upon. The purpose of the exercise is to make assumptions visible before they become commitments.
Bring the structure and the story together
The facility amount, security, drawdown arrangements, term and repayment plan should be considered as parts of one proposal. A change to the commercial plan is a reason to revisit how those elements fit together.
This is where the craft of structuring sits: translating a property story into a proposition that a sponsor, a credit team and a funding partner can each understand. Agreement may still require negotiation. The aim is to give that negotiation a clear factual basis.
A better first conversation
For an initial discussion, explain the purpose, the current position, the key dates and the intended exit. Distinguish confirmed information from assumptions. Where something is unresolved, say so.
George’s experience in origination, construction product development and credit committee work informs this approach. Creditwright’s role is to help organise the questions and develop the proposal around the circumstances of the transaction.
Before a first funding conversation
- State the commercial purpose and what must happen during the facility.
- Set out the sequence: completion, titles, settlements, repayment.
- Separate confirmed facts from assumptions.
- Identify what each repayment step depends on.
- Name what is still unresolved.
These perspectives are general and illustrative. They describe how Creditwright approaches its work and are not advice on any specific transaction. Any engagement is subject to agreed scope; funding is subject to lender assessment and approval.
Written from the Credit & Capital practice, led by George Khoury. GK@creditwright.com.au