DrawReady Glossary
Every construction draw term, in plain English — so nothing on your draw is a mystery.
Construction Draw
A scheduled release of money from a construction loan as work is completed.
Draw Request
The package you submit to your lender to release construction loan funds.
Lien Waiver
A signed document where a paid sub gives up the right to lien the project.
Retainage
A percentage of each draw the lender holds back until project completion.
Draw Schedule
The agreed plan for when and how much you can draw from a construction loan.
Ready to get your next draw bank-ready?
Your project shouldn’t stop because your draw isn’t ready. DrawReady checks it before it reaches your lender.