In one sentence
A periodic advance of construction loan proceeds against completed work, verified by inspection and conditioned on lien waivers and budget compliance.
The longer version
Each draw package typically includes the requisition, updated budget, inspector's report, invoices, and conditional and unconditional lien waivers. Title date-downs confirm no intervening liens before funds move.
Draws are a monthly mini-closing for the life of construction, which is why construction lending teams live and die by checklist discipline and document turnaround.
In Prodeal
Each draw runs as a repeatable checklist from a template, with the inspector, title, and borrower uploading against their own lines and the approval trail kept per draw.
Keep reading