Draw Request Application

  • Draw Request Application - PART 1

  • Lender: CF Specialty Finance
    Borrower:     *   *   
    Draw Request #:   *   

    1. Total Project Costs: $   *       
    2. Financing Cost Paid by Borrower (from prior period): $   *   (a portion of this can be reimbursed based on your Loan Agreement)     
    3. Money Funded by Borrower: $   *              
    4. Would you like to expense prior financing costs? (If you answer "Yes", we will calculate and add these funds to your Draw Request)   *   
    5. Total Requested (without financing cost): $    *         

  • Owners Certification and Approval of Requested Disbursement

    The undersigned Owner(s) certifies that:

    1. He/She has inspected the progress of construction and that the work covered by the contractor's Request for Payment has been completed and the materials have been put in place in accordance with the plans, specifications, construction contract and;
    2. The funds now requested are due and owing and are to be used for the sole purpose of paying for materials used and/or labor and/or services performed as described on the construction disbursement request from the contract, and;
    3. All costs of materials, labor and/or services prior to this advance have been paid in full, and;
    4. That the remaining balance in the Construction Loan will be sufficient to complete the project and to pay all obligations thereof, and;
    5. That there have been no actions which would result in default under the terms of the Mortgage, Note, Construction Loan Agreement or other loan instruments which have been executed in connection with this loan.

    Under the terms and conditions of the Construction Loan Agreement, the undersigned hereby applies for and certifies that at the time of this request, the total work in place has been completed in accordance with the plans and specifications approved by the Bank of Travelers Rest and that this request is in accordance with the following supporting documentation requirements as attached.

    I hereby authorize the disbursement of the above requested loan proceeds. 

  • Draw Request Application - PART 1

  • TO:
    Lender: CF Specialty Finance
    Attention: Jonathan Cover
    Email: Jonathan@cfreloans.com 

  • FROM:
    Borrower:     *   *   
    Company:   *   
    Email:   *   

  • Today's Date:   Pick a Date*         
    Construction Dates to Reimburse:   Pick a Date*   through   Pick a Date*   
    Project (name):   *   

  • Borrowers Funding Request

    1. Original Project Budget $   *            
    2. Budget Revisions: $   *         
    3. Current Project Budget: (line 1+2): $   *                   
    4. Total Expenses: $   *         
    5. Total Current Draw Request: $   *  

  • Borrower certifies to the best of their knowledge that the work covered by this draw request has been completed in accordance with the approved project plans and that all project invoices not contained in this draw request have been paid.

  • Should be Empty: