The Draws tab is located underneath the property address tab which contains the add new button to request all draws.
There may be additional post-underwriting requirements specific to your loan such as cash reno, permits, building plans, and surveys.
Typically take anywhere from 5-7 business days from time draw is requested until funds can be wired out. But the process can take longer if there is a discrepancy between requested amount and report findings, or more information required by the Draw team.
Draw is requested for work completed, inspection is ordered through inspection vendor, inspector is assigned and scheduled to visit property, inspection report with photos is sent to Groundfloor, draw is reviewed for approval and wire out based on reported progress.
If your project is requiring significant changes, has stalled, runs low on funds, or does not seem like you can repay by the maturity date, please reach out to your Asset manager to discuss possible options.
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