Overview
This section guides Sponsored Borrowers through the process of creating a new draw within the platform. Creating a draw is the first step in initiating a funds request, and it sets the foundation for attaching necessary documentation and complying with draw requirements.
Note:
Before initiating your draw request, ensure you have added any subcontractors or vendors you worked with during the draw period to your Contacts. Learn more about Managing Contacts here.
Steps
Step 1: At the top-left of the page, click Portfolio.
Step 2: On the Portfolio page, in the Deals tab, click View or Deal Name for the deal for which you want to create a draw.
Step 3: On the left-hand navigation menu, click Draw Management.
Step 4: On the Draw Management page, click + Create Draw.
Step 5: In the New Draw dialog box, enter the required details:
Name
Select first or final draw (if applicable)
Step 6: Click + Create Draw to finalize.
A confirmation message will appear stating the Draw was created successfully.
Note: After the Draw is created, you must fulfill the draw requirements to submit a draw package. For more information on the next steps, see:
FAQ
What is the first step in initiating a funds request?
Creating a new draw within the platform.
Do I need to add subcontractors or vendors before creating a draw?
Yes, you should add any subcontractors or vendors you worked with during the draw period to your Contacts.
Where can I find the option to create a draw?
You can find the option to create a draw under the Draw Management section after selecting the appropriate deal in your Portfolio.
What details are required when creating a new draw?
You need to enter a name for the draw and select whether it is the first or final draw, if applicable.
Will I receive a confirmation after creating a draw?
Yes, a confirmation message will appear stating that the draw was created successfully.
What must I do after creating a draw?
You must fulfill the draw requirements to submit a draw package.
Can I modify sources and uses after creating a draw?
Yes, you can modify sources and uses after the draw is created.
Is it necessary to manage documents on a draw?
Yes, managing documents on a draw is part of fulfilling the draw requirements.