What is Fund Control?

Construction fund control is a process where a third party verifies the construction budget, draw documentation, and work progress to help lenders accurately manage the construction loan draw process. This service saves lenders time by taking site inspections and draw review off their plate.


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.


Loan portfolio and budget review

Our work begins with a detailed analysis of the construction budget and schedule that has been presented by the borrower. We coordinate with the lender and borrower to review these documents, the project’s building plans and specifications, to ensure that the proposed budget and costs are sufficient with the project scope. Our experts perform a detailed review and provide the complete analysis to the lender for their review and files.


Our analysis helps to reduce lenders risk by reviewing all site and vertical costs, with an emphasis on those components that historically have the potential for cost overruns. All parties need to know that the construction budget is sound, and the lender needs to validate the sufficiency of the costs that have been submitted to underwriting. 


We also provide a detailed look at the borrower’s portfolio of projects. We look for patterns to confirm that the client constructs projects on schedule and that there have been no cost overruns. With this information, we help the lender assess the level of risk they would be exposed to on an individual or macro level.

Draw documentation review

QuickDraw reviews all construction draw documentation to help safeguard lenders from surprise liens and claims. We confirm that lien waivers and other payment documentation are accounted for and all vendors have been paid. A single mistake in a loan disbursement can be disastrous to all the parties on the project. We work diligently to prevent that from happening.


We also analyze change orders against the budget to verify that it is appropriate and that additional unnecessary charges are not included. This analysis helps the identify budget variances and prevents an unforeseen shortage of funds at the end of the project.


After completion of a site inspection to verify the progress of the work, we work diligently to approve the payment request or suggest changes quickly. Our goal is to always process and approve disbursement requests within five days of submission of a complete draw package.

Work progress inspection

To ensure that payment requests match the actual progress of the work, we send an experienced inspector to visit the site to determine the level of completion. Our expert inspectors provide lenders with all the information they need to ensure budgeted funds have been applied properly and payment requests match the work performed.


During their visit, our inspectors take photos to document the state of the project at each inspection. This provides a permanent record of the project’s construction progress to the lender. Draws are approved only if what has been requested has been observed, is appropriate, and is supported with the required documentation.


If the inspector notices any issues with the draw, we communicate our findings to the borrower and concurrently, immediately report back to the lender and suggest appropriate adjustments to the draw. We then work with the contractor to request and procure revised documents, as needed.


Once the documentation has been reviewed and the project progress has been confirmed, we send the lender a detailed report of the state of the project and the budget. In our report we note any concerns that we have, such as budget overruns, construction delays, or other relevant issues. 


Our open communication allows the lender to make accurate, forward looking decisions on how to proceed with funding and allows them to address these issues with the borrower before they become problems.

Why use QuickDraw Fund Control?

Our years of experience and expertise ensure that lenders receive accurate reports and help prevent mistakes. We have decades of construction and home building experience and understand the needs of both lenders, borrowers, and general contractors. Lenders want to fulfill their fiduciary responsibility and be certain they are not releasing funds before work is complete. Borrowers are looking for payment speed, accuracy, and responsiveness. 


We work hard throughout the country to give our clients the experience they expect. That is why we can include clients like Rite Aid, 7-Eleven, Starbucks, and Dollar General in our portfolio. 


We offer full portfolio and individual project reviews, services which other fund control companies do not provide. Our team has extensive construction experience in residential, commercial, light industrial and land development projects and is able to spot budget anomalies and project funding issues before they happen.


We help lenders identify project and borrower risk. We will not recommend actions to take but will let you know when additional safeguards may be necessary. Working together with borrowers, contractors, and lenders, we help ensure everyone finds success with the project.


If you are a busy lender managing multiple construction projects, we invite you to join our team today. We lead every project as if your business is our business. It is our promise to be responsive, accurate, and deliver the value your business deserves.


Get started with QuickDraw Fund Control, contact us today!