Third-party lenders sometimes provide gap financing for project developments. Why is this lending used? How does it work? Please respond in at least 4 – 5 sentences.
According to Investopedia, “Funding gaps are also more likely at these early stages because a company won’t know what its full operating expenses will be until it reaches a more mature stage and when, at first, there aren’t likely to be any meaningful revenues coming in (Ake Frankenfield).” According to Ake Frankenfield, new companies may not fully know the extent of how much their expenses are in the initial years or months due to lack of experiences and past history. In the early stages of the businesses, owners may not fully anticipate the amount of revenue that will flow in. Unlike most of us living on a W-2 that we know how much our monthly salaries or hourly rates are, business owners and especially new ones, are not sure how much will come in at the time. Even maturing businesses will only have a range of revenue instead of a fixed numbers. Unless it is insurance companies that may have a more accurate cash flow in their budget.
In addition, according to Ake Frankenfield, funding gaps can occur when there are not enough funds for finance operations or future development projects. This is the same question discussed in the discussion forum. They would do so because they might not quickly enough to gain the permanent or long term source of fund. However, obligations such as wages payable or taxes payable are not negotiable in most cases especially on payrolls for employees. To keep the company operating, the fund manager must consider alternative sources of cash to sustain the project or operating. Finally, funds gaps can also addressed by seeking investors for additional capital of equity or debt.
Ake Frankenfield (Jun 27th, 2019). Funding Gap, Retrieved From:
Building Owners and Managers Association International
Please visit https://www.boma.org (Links to an external site.) and explore the site. Be sure to explore the Research & Resources section on the website.
What type of resources are available for real estate professionals? Bring back something that interests you and share it with the class.
Building Owners and Managers Association International
What type of resources are available for real estate professionals?
This website is for building owners and building managers. It includes a plethora of online resources in the research section, including:
BOMA Knowledge Center, Trends, Industry Resources, Newsroom, Careers in Commercial Real Estate, Sustainability, BOMA Online Bookstore, and the Experience Exchange Report (EER).
The EER is a valuable benchmark resource for office buildings, but it was last updated in 2015.
The biggest takeaway for me was the highlighted article on COVID-19 protocols. I’ve attached the 9-page report in PDF format for quick reference. I think the most valuable information in the document are the sections on Building Personnel and Contractors and 3rd party certifications. There is a lot of information in this document, which you can read about here Getting Back to Work 2.0.pdf. Basically, with COVID-19, we have heard the same warnings about social distancing and masks, but this document helps the building manager understand exactly how to manage the traffic flow in common areas, especially around “pinch points” and elevator access. Very helpful resource for 2020.
Building Owners and Managers Association International. (2020, October 23). Getting Back To Work 2.0: Building Re-Entry Best Practices in a COVID-19 Reality, Guidance Document #7. Retrieved from https://boma.informz.net/BOMA/data/images/Getting%20Back%20to%20Work%202.0.pdf
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