NetLoan - Draw Requests
Overview
The Draw Request record provides a structured approval workflow for loan draw requests within NetLoan. It allows internal users and external integrations to submit draw requests against a lender loan, route them through an approval process, and automatically trigger downstream actions — including the creation of a draw modification and disbursement bill — upon approval.
Prerequisites
- The loan must be classified as a lender loan. Draw Requests are not available for borrower loans.
- The user must have the appropriate NetLoan role permissions to create, view, or approve Draw Request records.
Navigation
- Enter "New NetLoan Draw Request" into the NetSuite search bar.
- Select "New NetLoan Draw Request" from the options.
Draw Request Record Structure
The Draw Request record is organized into the following tabs:
Main
| Field | Type | Description |
|---|---|---|
| Loan | Record | The lender loan associated with this draw request. |
| Draw Amount | Currency | The amount being requested for the draw. |
| Date | Date | The date of the draw request. |
| Status | List | The current approval status of the request. Options: Pending Approval, Approved, Rejected. |
| Generate Fund Request | Checkbox | When checked, the system automatically creates a Funding Request record for the same draw amount. |
| Disbursement Vendor | Record | The vendor to which disbursement funds will be directed. If populated, a bill is generated for this vendor upon approval. |
Related Records
| Field | Description |
|---|---|
| Funding Request | A linked Funding Request record, populated automatically when generated directly from the Draw Request. |
| Modification | The draw modification record created upon approval of the draw request. |
Disbursements Billed
A sublist displaying all vendor bills generated in connection with this draw request.
Disbursements Paid
A sublist displaying all vendor payments associated with the disbursement.
Step-by-Step Process
There are two ways to create a Draw Request:
Option 1: From the Draw Requests List
- In the Loan field, select the applicable lender loan.
- Enter the Draw Amount and Date.
- If a vendor disbursement is required, populate the Disbursement Vendor field.
- If a Funding Request should be created automatically upon approval, check Generate Fund Request.
- Set the Status to Pending Approval and save the record.
- The assigned approver reviews the record and updates the Status to either Approved or Rejected.
Option 2: From the Loan Record
- Open the applicable lender loan record.
- Click the Request Draw button in the record header.
- A new Draw Request record will open with the Loan field pre-populated.
- Enter the Draw Amount and Date.
- If a vendor disbursement is required, populate the Disbursement Vendor field.
- If a Funding Request should be created automatically upon approval, check Generate Fund Request.
- Set the Status to Pending Approval and save the record.
- The assigned approver reviews the record and updates the Status to either Approved or Rejected.
Automated Behaviors Upon Approval
When a Draw Request is set to Approved, the following actions occur automatically:
- A draw modification is created for the associated lender loan, reflecting the approved draw amount.
- If a Disbursement Vendor was specified, that vendor is carried over to the draw modification, and a vendor bill is generated for the draw amount.
- If Generate Fund Request was checked, a Funding Request record is created for the same amount and linked in the Related Records tab.
Considerations
- Draw Requests are only supported on lender loans. Attempting to associate a Draw Request with a borrower loan is not supported.
- The funding workflow (processing and applying the disbursement funds) is handled separately. Refer to the Draw Requests — Funding article for details on managing the funding side of a draw.
- If a Disbursement Vendor is not specified, no bill is generated upon approval; the draw modification is still created.