About Us
Why use Quickdraw
About Quickdraw.
Quickdraw Fund Control is the partner every lender needs. We ensure that loan documents are accurate and complete, that construction progress is carefully and thoroughly documented, and that draws are executed promptly. Our decades of experience means that we identify and solve potential problems before they can escalate, meaning more success, less risk, and fewer headaches for our clients.
The proof is in the portfolio. We are proud to have partnered with clients such as the State of California, the Port of Vancouver, Starbucks, Rite Aid, 7-Eleven, and Dollar General.
As the leading provider of fund control, QuickDraw helps borrowers and lenders maintain a relationship based on trust and transparency.
About Fund Control
Construction fund control is the process by which a third party verifies construction budgets, draw documentation, and work progress to help lenders accurately manage construction loans. This service both saves lenders time and provides increased security for their investments.
QuickDraw Fund Control works to make the fund disbursement process positive for all parties by acting as an intermediary between the lender (banks, private equity firms, and private individuals) and the borrower (contractors, builders, and owners). We work hard to keep both our clients (the lenders) and our clients’ clients (the borrowers) happy.
There are three main components to fund control: draw documentation review, work progress inspection, and draw dispersal.
Draw Documentation Review
QuickDraw reviews all construction draw documentation to safeguard lenders from surprise liens and claims. We confirm that lien waivers and other payment documentation are accounted for and that all vendors have been paid. We also analyze change orders against the budget to verify that they are appropriate and that additional unnecessary charges are not present. This analysis helps to identify budget variances and prevents unforeseen shortages at the end of projects.
At Quickdraw, we know that a single mistake in a loan disbursement can have disastrous consequences for all involved. We work diligently to prevent that from happening and to ensure a successful construction project.
Work Progress Inspection
Inspections are an essential element of the fund control process. Once a draw request is received, we conduct an inspection to document the progress and affirm that the property is being developed according to expectations.
Our highly trained inspectors investigate the site, thoroughly photograph the construction progress, identify any issues, determine whether or not requested improvements have been made, and calculate a project-percent complete.
This information is then compiled into a comprehensive site inspection report for the lender which will support the draw request and identify any variances that exceed tolerance.
Draw Disbursal
After we complete a site inspection to verify construction progress, we work quickly to approve the payment request or suggest changes. Our goal is to always process and approve disbursement requests within five days of submission of a complete draw package.
Additional Services
Inspection-Only Reports
Some lenders who manage fund control internally choose to outsource site inspections to QuickDraw Fund Control for our thorough, accurate, and timely reporting. Photo documentation and other inspection services are always available to accommodate lenders’ needs.
Loan Portfolio and Budget Review
We carefully review the borrower’s construction budget and schedule as well as the project’s building plans and specifications to ensure that the proposed budget aligns with the project scope. Our experts perform a detailed review and provide the complete analysis to the lender for their records.
Additionally, we assist with validating the sufficiency of the costs submitted to underwriting. All parties benefit from this verification that the construction budget is sound. Our analysis helps to reduce lenders’ risk by reviewing all site and vertical costs and taking special care to focus on those components that historically have the potential for cost overruns.
