Work backward from maturity using decisions and evidence milestones

A maturity plan should work backward from the actual repayment obligation. It should identify the facts needed to choose among refinance, equity contribution, sale or a negotiated change, with enough time to pursue a supported alternative.

The OCC handbook discusses loan maturity and repayment capacity. This original calendar is a planning tool, not a promise of lender turnaround or an automatic extension. Actual notice, payment and consent requirements come from the loan documents.

Confirm the anchor date first

Read the note, loan agreement and amendments together. Record the current maturity, any earlier notice deadline, payoff mechanics and conditions affecting optional extensions. Do not replace the current maturity with the longest possible term before the relevant option is effective.

Identify other dates that can constrain execution: lease expirations, cap expiry, construction completion, approval expiry, tax payments and capital calls. The earliest material decision may occur well before the balloon date.

Blank maturity schedule

milestone_id,target_date,decision_or_deliverable,owner,prerequisite,completion_evidence,fallback_if_missed,status
M001,,,,,,,not_started

Field instructions

Completed hypothetical runway

milestone_id,target_date,decision_or_deliverable,owner,prerequisite,completion_evidence,fallback_if_missed,status
M001,2027-03-31,Confirm current maturity and extension notice rules,Counsel and asset manager,Complete executed document chain,Reviewed obligation map,Escalate missing documents immediately,not_started
M002,2027-05-31,Reconcile NCF; size refinance and cash requirement,Analyst and sponsor,Current operating evidence and payoff estimate,Versioned model plus verified equity schedule,Evaluate additional equity and alternative exit,not_started
M003,2027-06-30,Choose primary and fallback financing paths,Sponsor,Sizing; terms; execution conditions,Documented decision with unresolved conditions,Activate supported sale/extension analysis,not_started
M004,2027-08-31,Resolve remaining funding gap and closing conditions,Sponsor and closing team,Selected path and verified costs,Accepted funding plan and current condition register,Escalate unresolved gap before maturity,not_started
M005,2027-09-30,Current contractual maturity in hypothetical example,Borrower,Actual payment/funding requirements,Verified payoff and completed funding,No automatic extension assumed,not_started

The example begins March 31 and ends at a September 30, 2027 maturity, a span of 183 calendar days. That is an invented planning runway. It is neither a recommended universal start date nor evidence that a financing can be completed within it.

At M002, assume modeled maturity uses are $5.5 million, supported gross refinancing is $4.8 million and verified available equity is $400,000. A $300,000 unresolved gap remains. The schedule should force a decision about that gap rather than allow the team to proceed as though the financing is fully funded.

M003 is the point to choose a primary path and a credible fallback based on actual information. M004 tests whether the selected path still works after final costs and conditions. Waiting until M005 to revisit feasibility can leave fewer practical options.

Test the dependencies, not just the calendar

A refinance proposal may depend on completed leasing, accepted reports or sponsor cash. A sale may depend on buyer diligence and collateral release. An extension may require notice, a paydown, a fee or lender discretion. Identify those dependencies and their evidence owners.

If a milestone is missed, update the remaining cash and timing analysis. Do not simply compress every later step into the same maturity date. Evaluate whether the fallback remains feasible and whether earlier action is necessary.

Keep the final funding position current

Refresh the payoff, available reserves, costs and equity as closing approaches. A reserve released after payoff may not fund the closing-day requirement. A change in advance amount should flow into the liquidity schedule immediately.

Preserve the decision record and actual outcome after repayment or modification. The calendar should explain when material information became available, what action followed and which obligations remain under any replacement structure.