Getting started with Draw Requests

Set up Draw Requests: holdback settings, a project for the loan, the budget pasted from a spreadsheet, your first draw with backup, and the lender link.

What you need

  • The loan details: site address, owner or borrower, lender, the lender's contact and email, and the loan amount
  • The budget (schedule of values) the lender approved, in a spreadsheet: cost code, description and amount
  • This period's invoices and receipts, and the lien waiver or statutory declaration if your lender needs one

1. Sign in and check your settings

Sign in at draws.nvisin.app with the email you signed up with. Open Settings (the gear) to upload your logo and add your business details and a footer note for every draw package (for example how you'd like to be paid). Set the default holdback percentage (10% to start; you can call it retainage), and whether every draw needs a lien waiver or statutory declaration before it can be submitted. Invite your team under Users.

2. Add a project and paste the budget

Click New project and add the loan details. Then open Budget and paste the rows from your spreadsheet, one line each: cost code, description, amount. A heading row is skipped. Change orders go under Change orders; once approved, they add to their line.

3. Fill in your first draw

Start Draw 1. On each line type the % complete to date or the amount this period, and the rest works itself out: previous draws, completed to date, holdback, balance to finish and the payment due. A line can't be billed past its revised budget unless an owner allows it with a note.

4. Attach the backup

Attach invoices, receipts, lien waivers or statutory declarations, inspection reports and photos to the draw, and to a budget line where it helps. Today lists billed lines with no backup yet. Open the Draw package to check the cover, summary, line detail and backup index, and print or save it as a PDF.

5. Submit and send the lender link

Submit the draw: it locks with its figures exactly as sent. Under the project's Lender link, turn the link on and copy it or email it to your lender. They open the package, download the backup, and approve or return the draw with a note, with no account. When the money arrives, mark the draw funded.

Common questions

The lender returned a draw. Now what?

A returned draw can be edited again. Make the changes they asked for, attach anything missing and resubmit.

The lender approved by email. Can I record it?

Yes. An owner can record a decision the lender made by email or phone.