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The document is a request form for funds from La Mesa Fund Control, providing necessary contact information, details about the lender, fund control number, preparer's information, cost code, total amount of the voucher, invoice details, payee information, and mailing address.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is it normal for a contractor to ask for 50% down?

Its not unusual. If you are not comfortable tell them you are willing to do 50% upon delivery of materials, balance upon completion.

What does requesting a draw mean?

A draw request is a written request for funds from a construction load to be disbursed to a contractor or project owner as certain phases of the project are complete. During the loan application, these specific phases are agreed upon by the lender and the contractor this is known as the draw schedule.

What is a contractor draw?

A construction draw schedule is basically what is used by contractors to identify specific completion points of a job. This financial tool allows banks to see the progress and then release funds to keep the project moving forward.

What is requesting a draw?

The installments are called draws, as the lender draws funds from the account. A draw request is necessary to ensure disbursement of funds. A draw request is a borrowers request for funds.

When a lender receives a draw request?

Once a draw request has been submitted to the lender, the review process begins. The lender needs to review all the documents, order and approve inspections, and verify that all the work claimed to be completed, has been. This draw approval process ideally takes about seven business days.

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What does it mean when a contractor asks for a draw?

A draw request is a formal request for funds. As each stage of a project is completed, money needs to be designated for those phases. The contractor submits the draw request to the project owner or lender. This document lays out the specific work that needs to be completed and what materials are needed for the project.

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Is it normal for a contractor to ask for 50% down?

What does requesting a draw mean?

What is a contractor draw?

What is requesting a draw?

When a lender receives a draw request?

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What does it mean when a contractor asks for a draw?

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