Credit Line Reserves
In order to maintain proper control of construction loans, it may be necessary to break up a line of credit into multiple smaller credit lines. For example, a credit line of $1,000,000 could consist of $400,000 for framing, $300,000 for roofing, $200,000 for plumbing/electrical, and $100,000 for flooring.
The Nortridge Loan System allows for the setup of multiple credit lines on a line of credit loan. Each of these credit lines may be tracked separately, or the summary of the entire credit line can be viewed. Manual transactions may be set up for various kinds of draws, and those transactions can be automatically linked to the credit lines so that running a certain draw transaction will automatically draw for the corresponding credit line.