When you finance a fix-and-flip or rehab project with a hard money loan, your renovation budget usually isn't handed to you in one lump sum at closing. Instead, it's held in a repair escrow and released in stages — called draws — as work is completed. This protects everyone in the deal: you're not carrying more debt than the work justifies, and your lender can verify the money is actually going into the property.

The tradeoff for that safeguard is speed. A slow or disorganized draw process can leave your project — and your contractor — waiting. That's the piece we've worked hardest to streamline.

Our draw process is a straightforward, three-step cycle:

1. Log your repair expenses in your RHM Loan Tracker. Every expense tied to the scope of work gets entered as it happens, so there's no scramble to reconstruct receipts later.
2. Upload your required documentation to your shared folder, including:
3. Receipts or invoices for any expense over $2,500
4. Lien waivers for all contractor and labor expenses
5. Photos or videos of the completed work for every draw request
6. Submit your Draw Request Form.

Once submitted, your request moves into our review and payment cycle below.

REIA Hard Money processes and pays draw requests on Tuesdays and Thursdays only. Our submission portal stays open around the clock, but to be included in that day's processing run, your request needs to be submitted by 11:00 AM CST. Anything submitted after the cutoff automatically rolls to the next scheduled Tuesday or Thursday.

If a request is reviewed and something is missing, you'll get an email spelling out exactly what's needed — and your request moves to re-review on the next scheduled processing day once it's complete.

The single biggest thing that keeps a draw on schedule is submitting it complete the first time. That means:

• Receipts/invoices for anything over $2,500
• Lien waivers for all contractor and labor costs — no exceptions
• Photos or videos of the completed work, every time
• All required items uploaded to your shared folder before your request is reviewed

A draw is only remitted if every required item is present on the day it's reviewed — so double-checking your folder before you submit is the fastest way to avoid a rollover to the next cycle.

Every day your renovation stalls waiting on funds is a day of extra holding costs — and a day your contractor is tempted to move on to a job that pays on time. A predictable, twice-a-week draw schedule means you can plan your project cash flow and your crew's schedule around real dates, not guesswork.

If you're a Pro V Borrower, you may already be receiving a portion of your repair escrow in advance at closing, which reduces how often you need to lean on the draw cycle in the first place — worth a conversation with our team if you haven't asked about it.

Whether you're mid-project or getting ready to close on your next deal, staying organized on the front end is what keeps your renovation funds moving on the back end. If you have questions about the draw process on an active loan, log into your Borrower Portal or reach out to our team directly.

Not yet working with us? Get pre-approved before you have a deal under contract and we'll waive your $1,000 Account Setup Fee.