Working with Your Lender During Each Phase

What your bank expects at each phase, when to submit draws, and how the Playbook aligns with draw timing.

Bank Communication

Your lender is your financial partner. Regular communication builds trust and ensures smooth draw processing.

When to Submit Draws

Most construction loans allow draws at specific milestones:

1. **Foundation Complete** — Draw 1 (10-20% of loan)
2. **Framing Complete** — Draw 2 (20-30%)
3. **MEP Rough-In Complete** — Draw 3 (15-20%)
4. **Drywall Complete** — Draw 4 (10-15%)
5. **Final** — Draw 5 (remaining balance minus retainage)

What Banks Want to See

• Completed inspection reports
• Updated budget with actual costs
• Lien waivers from all paid subcontractors
• Progress photos
• AIA G702/G703 forms (OwnerDraw generates these automatically)

> TIP: Submit your draw request within 48 hours of passing inspection. Banks have processing times of 5-10 business days, and you need funds to keep your project moving.