The draw process takes four business days and starts the day after a request is made.

Lima One Capital will only fund for completed work on a property. Materials and deposits must be funded out of pocket, and partial funds will not be given for materials on site.

Once your loan closes, your underwriter will let you know who you will be working with throughout the construction process.

There is no limit to how many draws you can request, but the average tends to be between five and seven draws. Our advice? The fewer, the better.

Yes, there is a $200 draw fee taken out of every draw that is wired. This fee is taken straight out of your escrow account so you don’t have to worry about paying the fee out of pocket.

Under the “Helpful Forms” portion of this page, you will find a “Budget Revision” worksheet. To reallocate funds, simply input the line items you want to change. Label what will be added or subtracted from each item, and make sure the original escrow budget amount remains unchanged.

You can! We do fund for partial work, but make sure to be accurate in what you request. For instance, if work on an item is about halfway done, go ahead and request half of the allotted funds.

We can release funds for plans, permits, and survey through both inspections or copies of documents. We ask our inspectors to document permits that are posted on site. For any other necessary documentation, you can send scanned copies to your construction analyst for funding.