A construction draw schedule is the agreement between you and your lender about when you can request money and how much each request can be. It’s usually tied to project phases or a percentage of completion.
Common draw schedule structures
- Milestone-based: funds release when a phase (foundation, framing, etc.) is complete
- Percentage-of-completion: you draw a share of each line as it’s finished
- Fixed number of draws: e.g. 5 equal draws across the build
Where draw schedules go wrong
Stop chasing draw documents.
DrawReady shows you what’s missing before you submit.
Start your 30-day free trialThe most common trap is drawing too little early and running short before the next milestone clears. The second is submitting a draw the schedule doesn’t allow yet — which the bank simply won’t fund.
| Mistake | Consequence |
|---|---|
| Under-drawing early | Cash gap before next milestone |
| Drawing ahead of schedule | Rejected — not yet eligible |
| Ignoring retainage | Final draw short by the held-back % |
Keep your schedule and your draws in sync
Match every draw to where you actually are in the schedule, confirm the phase is documented, and submit only what’s eligible. That’s how you avoid the funding gaps that stall a job.
Frequently asked questions
Related reading
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Your project shouldn’t stop because your draw isn’t ready. DrawReady checks it before it reaches your lender.