Important Notes

1. Standard Draw Turnaround Time

Please allow 4-7 business days for draw processing from the date of submission. Turnaround time is contingent on inspector availability and site access, inspection scheduling and report receipt, submission of all required documentation, and confirmation that all completed work falls within the approved scope.

2. Required Documents:

To avoid processing delays, please ensure all required draw documents have been uploaded to the draw portal or included in your draw submission confirmation email sent to you. This may include:

• Invoices
• Proof of payment/receipts
• Unconditional lien waivers (when applicable)

Invoices and proof of payment are required for all soft costs, including permits, design, engineering, and other professional services.

3. Funding Is Based on Completed Work:

Draw funds are reimbursed based on work that has been completed and verified during the inspection. If a line item is partially completed, only a portion of the requested amount may be approved based on the percentage of work completed. Please note that we do not reimburse for material deposits for items that have been purchased or ordered but have not yet been installed.

4. Inspection Scheduling:

Please provide a reliable point of contact and clear property access instructions when submitting your draw request. This helps prevent scheduling delays and ensures the inspector can access the property without issues.

5. Change Orders:

If revisions to your project budget or scope of work are needed, please submit a Change Order Request and obtain approval before submitting your next draw request. We recommend submitting your Change Order Request at least 4 business days prior to your intended draw submission to allow adequate time for review and approval. When submitting, please include a brief reason for the change and any supporting documentation, such as updated invoices or payment receipts. This ensures budget updates are accurately reflected during the draw review process, prevents delays caused by back-and-forth clarification on the proposed changes, and helps avoid cash flow constraints on your project.

6. Draw Support:

For assistance with your draw, please reach out directly to your assigned draw analyst listed at the top of this page and ‘copy draws@cvlending.com’ on all correspondence. Please use the following subject line format: Draw Number – Property Address (Loan Number) in a new email thead.

Example: Draw 3 – 123 Main Street (8012345)

6. Servicing Support:

Final disbursement of funds is contingent upon receipt and verification of wire instructions, confirmation that property taxes and insurance are current, and that the monthly mortgage payment is up to date. Once these items have been verified, we can proceed with the disbursement. For any questions regarding the Conventus payment portal, or wire information, please contact our Servicing Team directly at servicing@cvlending.com or 800-204-2705.