Free construction draw management software for developers
Construction draw management software tracks every loan draw against the budget and the loan, from the request to the money arriving. ProformaKit's is free and built for the developer's side: it plans draws from your pro forma, tracks each one as planned, submitted or funded, warns before requests run past the loan, and builds the draw request in Excel. It does not run a lender portal or collect lien waivers.
Updated
What it looks like
The first 8 of the sample's 21 draws, against a $9,651,349 loan:
| Draw | Date | Amount | Status |
|---|---|---|---|
| Draw 1 | Aug 15, 2026 | $650,542 | Funded |
| Draw 2 | Sep 15, 2026 | $1,129,595 | Funded |
| Draw 3 | Oct 15, 2026 | $1,203,174 | Funded |
| Draw 4 | Nov 15, 2026 | $1,210,694 | Submitted |
| Draw 5 | Dec 15, 2026 | $1,151,742 | Planned |
| Draw 6 | Jan 15, 2027 | $1,033,928 | Planned |
| Draw 7 | Feb 15, 2027 | $871,959 | Planned |
| Draw 8 | Mar 15, 2027 | $685,879 | Planned |
Funded so far: $2,983,311. Submitted and waiting on the lender: $1,210,694. Left to request: $5,457,344. The tracker counts submitted draws against the loan as well as funded ones, so "left to request" is what you can still ask for.
What it does
- Plans the draws from the pro forma. Equity pays first; after that, one draw for every month the loan funds, interest included, rounded so the draws add up to the loan to the dollar.
- Tracks each draw to funding. Planned, submitted or funded, with dates and amounts you can change as the lender works.
- Warns before it goes wrong. When funded and submitted draws run past the loan, and when the planned draws need more than the loan has left.
- Builds the draw request. The Excel draw request template works out the amount from costs to date, equity and earlier draws, with a cover sheet for the lender.
- Holds the costs behind each draw. The construction budget holds the costs each draw pays for, with committed, spent and forecast on every line.
What it leaves to a platform
It is a single-user tool. It does not collect lien waivers, schedule inspections, hold retainage, route invoices for approval, pay subcontractors or give the lender a login. Teams that need those buy a platform. Here is how the main ones describe their draw features on their own websites, read on 18 and 19 October 2026:
| Software | Draw features | Price |
|---|---|---|
| ProformaKit | Draw schedule from the pro forma, status tracking, loan left, overdraw warnings and a draw request in Excel | Free |
| Rabbet Development | Draw packaging, draw cover sheet and summary creation, automated compliance checks, a draw approval workflow and electronic draw submission | $375 to $840 per project per month, billed annually, $15,000 minimum |
| Built | Capital requests and draws, one budget mapped to several draw schedules, draw packages as PDF, Excel or zip, and ACH payments to subcontractors | Not published |
| Northspyre | Draw requests by requisition period, a funding portal for outside parties, draw approvals and a lender compliance checklist | Not published |
| Land Gorilla | Built for construction lenders: draw review, inspections and lien waivers on the lender's side, with a borrower portal | Not published |
Who it suits
A developer with one to three projects, one construction loan each, who today tracks draws in a spreadsheet. The draw schedule and the budget sit in the same project as the pro forma: the draws tab sizes the loan from the pro forma as you type, and one click rebuilds the budget or replans the draws when the pro forma changes. If you run many projects with a team approving invoices, the platforms above are built for that; the best real estate development software compares them in more detail.
Questions
What is construction draw management?
Keeping track of every request for construction loan money: what each draw is for, which documents back it, whether it has been submitted or funded, and how much of the loan is left. On the developer's side it also means planning when draws will come so the cash between them is covered.
Is there free construction draw management software?
Yes: ProformaKit. Its draw schedule, status tracking and Excel draw request are free with no account. Paid platforms add approvals, lien waiver collection, lender portals and payments.
Is this draw software for lenders or for developers?
For developers and owners. Lenders use loan administration platforms such as Land Gorilla, which handle inspections, holdbacks and borrower portals from the lender's side.
How does it plan the draws?
From the pro forma's month-by-month cash flow: equity pays first, then one draw for every month the loan funds, interest included. In the sample, 21 draws add up to the $9,651,349 loan to the dollar.
Can I send the lender a draw package from it?
It builds the draw request itself in Excel, costs to date by budget line less equity and earlier draws, with a cover sheet and attachment checklist. You attach the invoices, lien waivers and pay application and send it to the lender yourself.