So here's a question...We got approved for a business loan at an awesome fixed rate like 2 months ago. Our bank rep stated that once you lock in the rate, they like to typically close within 30 days. The rep has been kind enough to push the official closing as long as possible since we haven't even started any buildout on the space, and we're just in the process of evaluating the first schematics from the Architect in 2 weeks. Our construction phase is not anticipated to start until August or even september now. Does it make sense to get the loan closed and start paying off the loan off when no money is coming in?? I would have loved to start paying off the loan the month we're supposed to open...I mean, in order to get the entire process going, you need to know how much of a loan you get approved for, and when the rate is so great, you can't just let it go..granted, 6 months from now, it could be the same, or it could be higher.

What's everybody doing out there...is this typical?