We’re midway through 2011 and, despite all of the optimistic reports on the economy, bank loans for commercial real estate are still difficult to obtain—or they’re on terms in which most borrowers cannot comply. Add to that the recent recommendation from federal regulators to Texas bankers to buy Treasuries instead of making commercial real estate loans, and it leaves developers wondering where we will get the financing for the future growth of Texas.

For the last three years, I’ve been saying that you have to be creative in this economy to get a deal done. The lack of funding in commercial real estate is forcing developers to be more creative and flexible than ever before. It is key for any developer doing ground-up construction. You have to look at every possibility to get a project under way. The financial deal structure, the timing of deploying capital into new developments, government sponsored financing, and green financing are all very critical.

Every developer that expects to survive in this current economy will need to learn how to reinvent itself. That includes being creative in negotiating extensions and new terms with your lender base, as well as bringing in new partners.

We are fortunate that the Texas real estate market was not hit as hard as the rest of the country. And being creative in this economy has made us all work smarter.

But we also need banks to be creative for us to collectively start focusing on the future development of the state.

David Craig is president and CEO of Craig International and the founder of Craig Ranch. Contact him at dcraig@craigintl.com.