PROJ-2018 · Hawthorne Apartments
DRAW-2060 — draw request
Heartland Builders · Period Apr 26, 2026 – May 14, 2026
1 open exception
- Over senior threshold: Draw amount $620,000 exceeds $500,000 senior lender approval threshold. Awaiting Gregory Hahn sign-off.
Requested
$620,000
This draw period.
Approved
$0
Pending
Released (net)
$0
Awaiting release.
Retainage held
$0
10% per draw.
Percent complete
62.0%
From inspector report.
Schedule of values (5 line items)
AIA G703-style schedule. Inspector validates percent-complete per line.
| # | Cost | Description | Scheduled | This period | To date | % | Balance to finish | Retain |
|---|---|---|---|---|---|---|---|---|
| 1 | 03000 | Foundation & slab | $380,000 | $95,000 | $380,000 | 100% | $0 | $9,500 |
| 2 | 05000 | Structural steel | $450,000 | $210,000 | $380,000 | 84% | $70,000 | $21,000 |
| 3 | 07000 | Roofing | $180,000 | $85,000 | $120,000 | 67% | $60,000 | $8,500 |
| 4 | 15000 | HVAC rough-in | $260,000 | $95,000 | $95,000 | 36% | $165,000 | $9,500 |
| 5 | 16000 | Electrical rough-in | $195,000 | $50,000 | $50,000 | 26% | $145,000 | $5,000 |
| Totals (5 lines) | $1,465,000 | $535,000 | $1,025,000 | 62.0% | $440,000 | $53,500 | ||
Lien waivers (0)
Required from each subcontractor with paid work this period. Waivers older than 60 days expire.
| Sub | Type | Signed | Amount through | Status |
|---|---|---|---|---|
| No waivers attached yet. | ||||
Inspections (0)
Independent field validation of percent-complete claims by line.
No inspections recorded yet.
Approval chain
Loan officer → owner sign-off → finance releases. Senior lender required over $500,000.
| Step | Required role | Approver | Decided | Decision | Notes |
|---|---|---|---|---|---|
| 1 | Loan officer | — | May 12, 2026 6:37 PM | Approved | Approved at loan officer level — escalating to senior lender (over $500k). |
| 2 | Senior Lender | Awaiting assignment | — | Pending | Senior lender approval required (>$500k). |
Status timeline (3 transitions)
Every state change is logged with actor and reason.
- May 8, 2026 6:37 PMDraft
- May 11, 2026 6:37 PMDraft →SubmittedGC submitted DRAW-2060.
- May 12, 2026 6:37 PMSubmitted →In reviewOver $500k threshold; senior lender approval required.
Loan reference: PROJ-2018 (Hawthorne Apartments) · principal $8,500,000. Active persona: Lender admin.