QuickDraw Fund Control Awarded Contract for a Two-Unit Retail Development in Las Vegas, Nevada
Las Vegas is a city that keeps expanding with incredible new developments. Because of this, QuickDraw Fund Control has been able to provide fund control services for several different projects in the area, including the construction of two new commercial buildings at the corner of South Decatur Boulevard and Warm Springs Road.
The buildings will be home to a 7-Eleven and PT’s Gold, a restaurant and bar chain known locally in Las Vegas. While QuickDraw Fund Control has worked on many 7-Eleven franchise locations in the past, this is the first time we’ve worked with PT’s Gold and are excited about both developments.
For those who aren’t from Las Vegas, PT’s Gold is part of a very popular local chain of restaurants, pubs, steakhouses, and taverns. The restaurant serves its own PT’s craft beers along with a great variety of tavern dishes such as gourmet burgers, thin-crust pizzas, decadent desserts and delicious appetizers. They even have a full breakfast menu! This new PT’s Gold location is a prime property that should attract a lot of business.
For this project, we will be working with Freedom Financial Funds, a valued client of ours. Currently, the ground-up construction project is in the site development stage. There are still plenty of fund control procedures to complete in site development before vertical construction begins.
Once the construction gets underway, QuickDraw Fund Control will oversee and monitor the funds disbursement during each phase of development. As stage one of construction is completed, the borrower will submit a draw request for loan proceeds. To help make sure it is accurate and appropriate, we will then send our inspection team to the property. A thorough site inspection is completed along with detailed photo documentation. This is presented to the lender in a detailed inspection report, so they can comfortably fund the QuickDraw approved draw request. This happens at each stage of development in order to protect the lender, reduce risk, and help the Borrower by quickly providing capital to pay their subcontractors and suppliers.
Our team can’t wait to get started on this two-unit retail development project in Las Vegas. If you would like to learn more about QuickDraw Fund Control and the services we offer, give us a call today!