Construction Loan Disbursement
Once construction begins, a new set of risks come to the forefront. Ensuring that the project is on budget, on time and free of liens leaves a project that is fully completed and ready to transition into a more permanent loan.
CFSI Loan Management reviews all draws against the contractor’s accepted cost breakdown/budget making certain no lines are being overdrawn and to identify change orders. We collect all draw disbursement documentation (invoices, lien releases, etc.) along with all state statutory draw disbursement forms, ensuring that all entities working on a project, that enjoy lien rights, are paid. We order and review a site inspection to ensure the request is supported by work in place.
CFSI maintains constant contact with all interested parties to obtain all needed draw documentation quickly. This high touch approach ensures quick draw turn times, and fast payment to the General Contractor, and sub-contractors/suppliers.
CFSI provides construction funds control, construction loan monitoring, draw inspections, and construction loan disbursement for residential, commercial, and renovation.
CFSI has a national network of inspectors that can be dispatched to your project to complete a site visit. CFSI Loan Management will complete a draw inspection for all of our fund control projects. CFSI draw inspections include percentage of completion on a line by line basis, the project overall, as well as photographs of the entire project. The draw inspection is used with our funds control project monitoring and is a critical component of construction risk mitigation.
CFSI has a national network of inspectors that can be dispatched to your project to complete a site visit. CFSI will complete a status inspection evaluating the completion of the project based on the construction budget. CFSI’s inspections include percentage of completion on the project overall, as well as photographs of the entire project. This status inspection is for those lenders who do not utilize CFSI’s Funds Control process.