Lenders have a lot to worry about – making sure loan documents are accurate, getting draws funded quickly, properly documenting each file, and anticipating and dealing with minor delays.
QuickDraw Fund Control is the partner every lender needs to manage project funds because we solve these problems and provide excellent service that makes your job easier.
We provide a construction budget review before each project starts. Our construction estimate professionals apply real time cost data when reviewing the budget for anomalies and estimate thoroughness, so you won’t be surprised by additional costs that should’ve been included.
When draws are processed, our team verifies amounts, payments, invoices and lien release documents to ensure that the documentation matches and there are no discrepancies. We make sure that all draw paperwork is accurate and has been thoroughly reviewed before we approve funding. Missing documents are chased down so there are no gaps in the final draw packet.
Our inspection team visits each site to review construction progress, document any delays or issues, and provide photographic evidence of the state of the job. This allows the team to go back and review progress if needed and ensures that the amount drawn represents the work that has been completed.
QuickDraw promises a five-day turnaround on draw disbursements. We work hard to meet this timeline through prompt inspections, reviews, and reports. Our organized draw breakdown, based on your client’s chart of accounts, makes data transfer from the draw to the loan processing software seamless and quick. Developing a client-approved draw schedule at the beginning of the project allows all parties to know what to expect, so everyone can plan ahead to make the process as smooth as possible.
We provide the backup documentation and photographic evidence you need to back up your draw disbursements. If documents, like invoices and lien releases, are missing from the draw packet, we’ll track them down from the contractor, so you don’t have to. We approve the draw only if what has been requested has been observed, is appropriate, and is supported with the required documentation.
If there are delays or scope changes on site, we’ll work with the contractor and your client to resolve them as quickly as possible to avoid further costs. Our experts have years of project experience and can assist contractors in resolving many issues on site. We’ll keep you informed of necessary changes and owner requests, so you’re records will be kept current.
Our budget review process protects you and your client from hidden or missing costs. We’ll look at the plans, budgets and construction schedules. We review the project scope, and make sure the costs align with industry standards for the area. We’ll review design, consultants and permit fees, as well as hard construction costs, making sure that they are reported accurately.
Site inspections provide proof that work has been completed and that draws are accurate. They prevent contractors from overbilling and extending the loan funds beyond the work completed. We’ll ensure that your risk is minimized by accurately reporting on materials installed on site and percentages of work completed. We’ll also note potential problems so you can work with your client to plan for them ahead of time. Keeping you informed about the progress on the job so you can make accurate disbursements, and forward-looking decision, is our number one priority.
QuickDraw treats every project as if your business is our business. It’s our promise to be responsive and accurate. Our clients, like Rite Aid, 7-Eleven, Starbucks, Dollar General, and other institutional and private lenders, are our partners and we ensure their success with our suite of services.
Get started with QuickDraw Fund Control. Contact us today.