Construction Funding Draw AI
AI processing of construction loan draw requests and documentation.
Definition
Construction Funding Draw AI streamlines the processing of construction loan draw requests. It verifies work completion, tracks retainage, ensures lien waiver compliance, and prepares draw documentation to accelerate funding while protecting lender interests.
In Depth
Construction funding draws require documentation that the work billed is actually complete — schedule of values, inspection reports, lien waivers, and stored material documentation. AI assists by verifying the schedule of values against actual progress, checking that lien waivers are current for all subcontractors, and assembling the draw package documentation.
Examples
Verifying work completion
Processing draw requests
Tracking retainage
Nomic Use Cases
See how Nomic applies this in production AEC workflows:
Frequently Asked Questions
Construction Funding Draw AI streamlines the processing of construction loan draw requests. It verifies work completion, tracks retainage, ensures lien waiver compliance, and prepares draw documentation to accelerate funding while protecting lender interests.
Verifying work completion. Processing draw requests. Tracking retainage.
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