That moment changed everything about staged drawdown: explained like I'm five (and after three failed deals)

https://www.start-bookmarks.win/why-rate-rises-are-devastating-uk-property-developers-seeking-development-loans-of-100-000-5m

I blew three deals before I actually understood staged drawdown. Each failure cost me time, credibility and a chunk of deposit. The fourth time I got it right, the project finished on time, the contractor stayed, and the lender didn't panic