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How do I fill this out?
To fill out this form, start by entering the project name and MHDC number if available. Next, input the expected closing month and the amounts from the 2013 budget in the blue shaded cells. Ensure to provide accurate amounts from the sources of funds for each draw to reflect the total needed for the project.
How to fill out the Fin-150 Construction Draw Schedule Overview?
1
Enter project name and MHDC number.
2
Input expected closing month.
3
Fill out amounts from the 2013 budget in blue cells.
4
Provide total amounts available for each month's draw.
5
Review total drawn amounts to ensure they match the budget.
Who needs the Fin-150 Construction Draw Schedule Overview?
1
Project managers require this file to estimate financial draws.
2
Lenders need this document to verify draw amounts and timing.
3
Investors utilize the schedule to assess funding allocation.
4
Accountants ensure financial reports are accurate with this information.
5
Construction teams track draw-related costs and resources.
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What are the instructions for submitting this form?
To submit this form, please email your completed document to submissions@constructionfinance.org. You may also fax it to (555) 123-4567. If online submission is possible, please visit our secure portal at www.constructionfinance.org/submit. For physical mailing, send to Construction Finance, 123 Finance Lane, Suite 100, City, State, Zip. Ensure to check for submission deadlines for proper processing.
What are the important dates for this form in 2024 and 2025?
Key dates for the Fin-150 form include submission deadlines during project phases. Ensure to align draw requests with project milestones in 2024 and 2025 for efficient funding flow.
What is the purpose of this form?
The Fin-150 form is designed to facilitate accurate financial management during construction projects. It provides a clear structure for estimating draw schedules and aligning needs with available funding sources. Proper use of this form helps prevent funding shortages and ensures projects stay on track.
Tell me about this form and its components and fields line-by-line.
- 1. Project Name: Name of the construction project.
- 2. MHDC Number: Assigned number for project identification.
- 3. Closing Month: Expected month for project loan closing.
- 4. Sources of Funds: Information on different funding sources for the project.
- 5. Total Draw: Sum total of funds drawn at each stage.
What happens if I fail to submit this form?
Failing to submit this form may delay construction financing and impact project timelines. It’s critical to ensure all information is accurately provided and submitted on time.
- Funding Delays: Incomplete submissions can result in funding not being released when needed.
- Inaccurate Financial Planning: Failure to accurately project draws can lead to cost overruns.
- Project Timeline Issues: Not submitting on time may push project deadlines further back.
How do I know when to use this form?
- 1. Project Financing: When determining funding needs for construction projects.
- 2. Budget Planning: During project budget meetings to define draw timelines.
- 3. Financial Audits: As part of preparing for financial reviews with lenders.
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