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Loan and Draw Processing
LandDev has a comprehensive system for setting up and tracking bank loans and draws.The system allows users to create standard loan templates that establish a set of ‘Draw Items’. These draw items might be dictated by the bank. The user can use these templates to set up actual loans and connect to one or more jobs. The system will then create a draw request workbook so that draw amounts can be reviewed and/or overridden. A draw request package is then created to be sent to the bank to specify the amount of the draw. The system tracks drawn to date for each loan.
There is also a Partner billing system. This allows the user to setup partners who will funding the project draws at some percentage level. For example, if a developer is building a road that will be shared by another developer, then the partner developer will pay some percent of the total cost of that road. LandDev produces a monthly billing report that shows the other developers what they must pay each month to cover their portion of the cost.