Welcome to LendingOne’s guide on submitting a construction draw request in the borrower portal. Before we begin, log in to your LendingOne account to get started.
Once logged in, you’ll be on the applications page. Select the closed loans tab to view your active projects. Choose the project you want to submit a draw for and click “Request Draw” to open the form.
Once the draw request form loads, confirm the property address is correct. Next, enter the requested amount and expected completion date. Then, in the specific instructions field, clearly describe what the funds are for, breaking down amounts by task so the inspector knows exactly what to check.
For example, $50,000 for demolition, $50,000 for foundation work. Answer whether 100% of the work for this draw is complete. Select “Yes” only if all work for these items is finished and ready for inspection. Keep in mind the inspector will usually visit soon after this is submitted.
If any part of the requested draw is for materials, click “Yes” and complete this section, including any supporting documentation.
Next, enter the property inspection contact information. This person may be called or texted within one business day, so make sure they will be responsive to inspector calls. We recommend that either the property inspection contact or the contractor meet the inspector on the job site to discuss the progress for the current draw request.
If you are using a general contractor, select “Yes” and enter their details so they can be contacted for property inspection interior access and to receive the lien waiver.
Finally, enter your wiring instructions exactly as they appear on your account. Keep in mind any typos in the name, routing number, or account number can delay funds by a week or more, so double check carefully.
Once everything is filled out, review all information to make sure it is accurate. Read and agree to the terms. Complete the consent field by typing your name and then click “Continue” to submit.
That’s it — your draw request is now on its way for review. If you have any questions, email draws@lendingone.com and our team will be happy to help.
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