As published in Scotsman Guide's Commercial Edition, May 2008.
Be sure to distinguish between your borrowers' needs, wants and desires. A need is something they require to fund the deal, such as sufficient proceeds. A want is a deal attribute that may persuade them to select your loan proposal. A desire is an offer that can be used as a trade-off -- between an interest rate and an amortization, for example. Put the most energy toward meeting your borrowers' needs.