Originally published on September 28, 2023, by Billy Olson for NAIOP.

Construction projects have many moving parts, stakeholders and dependencies. If money doesn’t flow smoothly from lender to borrower, a project can quickly become delayed. Because construction loans are funded in increments, rather than all at once, managing draws are of the utmost importance.

One way to think about draw management is to conceptualize it as the project’s heartbeat. While there are other components to a project’s overall health, it’s difficult to imagine a project doing well if its heartbeat is off pace. But just as pacemakers exist to keep real hearts healthy, software can ensure draw management is executed seamlessly and on-schedule.

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