For a rehabilitation or new construction loan, we will release portions (draws) of the loan dedicated to the renovation or construction project in stages. Each installment will be released to the borrower’s (entity) bank account at the completion of a particular draw stage upon completed inspection of work. Generally, the period of time between initial draw request and money being wired is 3-4 days. The borrower will be asked when making a draw request to submit paperwork indicating what has been completed by SOW line item and the amounts requested to be drawn.

In addition to draw management, ASL services the loan by providing support for requests related to insurance issues and interest payments.