How the Draw Process Works at Pimlico Capital

On a bridge loan, your rehab budget is not handed over at close. It is funded in draws as the work gets completed. Understanding how the draw process works — and how to move it fast — is critical to keeping your project on schedule.

How It Works

1. You submit a scope of work with the loan application
2. Budget is approved and held in escrow by the lender
3. You front the cost of completed work
4. You submit a draw request with photos and documentation
5. An inspector verifies work in place
6. Lender wires the reimbursement (typically 2–5 business days)

What's in a Draw Request

• Draw form with line items completed
• Photos of completed work
• Contractor invoices and lien waivers
• Updated project timeline

Typical Draw Schedule

Speeding Up Draws

1. Great photos. Well-lit, organized by room, showing completed work clearly.
2. Align requests to milestones. Do not request a draw halfway through a phase.
3. Bundle multiple trades per draw. Three draws is standard for a $75K rehab; five+ is slow.
4. Pre-book inspector. Ask your lender's inspection coordinator in advance.
5. Prompt invoice/lien waivers. Chase contractors before submitting, not after.

Common Draw Delays

• Unclear photos or missing documentation
• Inspector availability
• Missing lien waivers from contractors
• Work-in-place not matching scope line items
• Weekend or holiday submissions

Pimlico's Process

Our draws close in 3–5 business days from inspection approval. Electronic submission through the borrower portal. Dedicated draw specialist per account. Inspector network covers every zip code we lend in.

Bottom Line

Draws are not obstacles — they are the system that protects both you and the lender. Learn it, run it cleanly, and your rehab schedule stays on track.