QuickDraw Fund Control Oversees Fund Control for Development of New Taco Bell Location in Las Vegas, Nevada
In Las Vegas, the action never stops and neither does QuickDraw Fund Control. We provide fund control projects for major commercial developments throughout the country, but Vegas is one of our hottest markets right now. In fact, we are currently nearing completion of a new Taco Bell franchise location in Northwest Las Vegas, Nevada.
It’s well-known that Taco Bell is one of the world’s biggest fast-food chains, specializing in Mexican-inspired food. They have thousands of locations throughout the country and new stores are always opening because of its proven business model and strong brand name. Fortunately, QuickDraw Fund Control has firsthand experience in seeing the restaurant expand, as this will be the third Taco Bell restaurant our team has worked on.
This has been a ground-up construction project and the store is expected to open by the end of April 2018. Because this franchise is so systematized, new restaurants can go up very quickly. However, fund control services are still needed to protect the lender and help keep the project well capitalized.
In this case, the lender is Preferred Bank of San Francisco. They provide everything from personal banking to major business loans and investor relations, and QuickDraw Fund Control has worked with them for more than three years. Preferred Bank of San Francisco hired us to help with this Taco Bell project because they knew we would take good care of their investment.
Throughout the construction process, QuickDraw Fund Control has provided fund control services centered around on-site inspections. As each phase of construction is completed, the General Contractor will submit a draw request for the periods improvements. Our team then goes in to conduct a thorough Site Inspection, which includes detailed photo documentation to show the completed work along with any shortcomings that they may notice. This provides the lender the information they need to release funds and deploy capital.
It is a very detailed process, but QuickDraw Fund Control’s role is to provide a bridge between the lenders and the borrowers. Lenders will know exactly how construction is progressing while borrowers and general contractors are kept focused on completing each phase of construction as originally planned. Of course, unexpected things might happen along the way that require attention, so QuickDraw Fund Control helps with that, as well. No matter what arises, lenders can rest assured knowing that our team will protect their construction loan investments.
For more information on our site inspection and fund control services, contact QuickDraw Fund Control today.