Preparing a Draw Request

Step-by-step guide to creating and submitting a draw request in OwnerDraw.

Before you start

You need at least one expense that is loan-funded, attached to a budget line on this project, and not already on another draw. Without one, **New Draw Request** does not appear and **New Draw** stays greyed out.

Also helpful before you bill: receipts attached, lien waivers requested where your project requires them, and the relevant inspection passed.

Creating it

1. Open **Draw Requests**.
2. Select **New Draw Request**.
3. **Step 1** — choose **Expense-Based** (tick the bills you want reimbursed, including ones already marked **Vendor Paid** for reimbursement) or **Progress Billing** (set **% complete** per line). If your last draw used the other method, read the *Heads up — previous draw used a different mode* warning.
4. **Step 2 — Review Draw Summary** — check **Total Requested**, **Less Retainage** and **Net Payment Due**.
5. **Step 3 — Create Draw Draft** — add **Notes (Optional)** and select **Create Draw Draft**. The app explains: *Save this request as a draft. Nothing is sent to your lender.*

That creates the draw in **Draft**. Nothing has been sent yet.

Producing the bank packet

On the draw row, select **Create G702/G703**. **Pre-Flight Validation** runs first:

  • over-budget lines block generation on a bank-financed project — use **Open Budget Transfer**;
  • unfinished payment-gate checklists require ticking *I acknowledge incomplete gate items and want to proceed*;
  • missing lien waivers are a warning — you may select **Proceed Anyway**.

Generating the packet downloads the file and moves the draw to **Packet Prepared**. Delivering it to your lender is still up to you. **Send for Signature** separately creates a signing link for the packet if your lender wants it signed.

Review checklist

  • Amounts reflect work actually done or bills actually received
  • Receipts attached to the underlying expenses
  • Waiver warnings dealt with or consciously accepted
  • Retainage percentage matches your loan documents
  • Packet opened and read before you send it

Figures come from your own records. Check them against your loan documents before sending.