Creating a draw

You can create a draw that details the completed work and specifies the funds required for the next phase as the deal progresses. Creating a draw requires the deal to include completed uses and a funding source.

Note: Ensure that full access is provided to the Draws permissions.

To create a draw, perform the following steps.

At the top-left of the page, click Portfolio.

On the Portfolio page, in the Deals tab, click View or Deal ID for the deal for which you want to create a draw.

On the left navigation menu, click Draw Management.

On the Draw Management page, click Create Draw.

In the New Draw dialog box, enter the following information.

Field Name	Description
Name	The name of the draw. This field is mandatory.
Draw Type	The draw type such as: Budget Modification Correction Data Conversion Default Fees Initial Funding Interest Reserve Reconciliation Each draw type follows a customized workflow that streamlines the rules and requirements. This field is mandatory.
First Draw (Applicable for Default draw type)	Select the checkbox if it is First Draw.
Final Draw (Applicable for Default draw type)	Select the checkbox if it is Final Draw.
Draw Workflow	The workflow that you want to associate with a draw. Note: By default, the workflow associated with the selected draw type is displayed. This field is mandatory.
Requested at	The date and time of the draw request submission.
Effective Date	The date and time when the draw request becomes valid or active.
Note	A draw information.

Click Create Draw.

A message is displayed indicating that the draw is created successfully.

Note: After the draw is created, you must fulfil the draw requirements. For more information, see:
Adding documents to a draw
Adding draw disbursements
Adding a new approval
Transitioning the draws status

FAQ

What is a draw in the context of project funding?

A draw details the completed work and specifies the funds required for the next phase as the deal progresses.

What is required to create a draw?

To create a draw, the deal must include a use and a funding source.

How do I access the Draw Management feature?

You can access the Draw Management feature by clicking on 'Portfolio' at the top-left of the page, then selecting the deal you want to manage.

What information do I need to provide when creating a draw?

You need to provide the draw name, draw type, draw workflow, requested date, effective date, and any notes.

Are there different types of draws I can select?

Yes, draw types include Budget Modification, Correction, Data Conversion, Default, Fees, Initial Funding, Interest Reserve, and Reconciliation.

Is it mandatory to fill in all fields when creating a draw?

Yes, certain fields such as Name, Draw Type, and Draw Workflow are mandatory.

What happens after I create a draw?

After creating a draw, you must fulfill the draw requirements, which include adding documents, disbursements, approvals, and transitioning the draw's status.

Can I mark a draw as the first or final draw?

Yes, you can select checkboxes to indicate if it is the First Draw or Final Draw, applicable for the Default draw type.

Will I receive a confirmation after creating a draw?

Yes, a message will be displayed indicating that the draw has been created successfully.