Draw Process:
- Once work has been completed on the project greater than 10% of the budget or a minimum of $5k, a draw can be requested.
- Draw requests should be submitted through the website, including the draw request form, a line by line break down of what is being requested and any corresponding invoices/lien releases to support the funds being requested.
- Once received, an inspection will be ordered with a 3rd party inspection company and an inspector will contact you to confirm and schedule the site visit. The inspector will go the property with your budget and verify completed work and take photos.
- We will then review the inspection report and release funds based on the completed work and overall percentage of completion less the inspection fee.
- Each inspection has a fee of $200 or $225 which will be deducted from the approved funds (Larger projects consisting of multiple units may have a higher cost & will be confirmed prior to the first inspection.)
- Typical turn-around time is around 7 days from the date of request to the date of wire.