The basic reimbursement sequence.
Complete work
The borrower advances work according to the approved scope and budget.
Request draw
Submit the reimbursement request and supporting documentation.
Verify progress
Documentation and inspection may be used to verify completed work.
Reimburse
Approved draw amounts are released according to loan documents and draw procedures.
Specific draw timing, retainage, inspection requirements and eligible cost treatment are transaction-specific and governed by the loan documents.
Have a Florida investment-property deal?
Start with the transaction.
Submit the property, requested loan, business plan and exit strategy for a preliminary fit review.