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Draw #7 Overdue — Peachtree Medical Plaza
Draw #7 ($942,000) submitted 12 days ago. 5 days past predicted payment date. SOV Line 22 MEP verification caused delay — Amanda Foster confirmed resolution. ACH expected within 48 hours of approval. LOC draw of $125,000 planned for Week 5 payroll if Draw #7 does not land by Wednesday.
Payroll Collision Risk — Week 5
Biweekly payroll of $78,400 lands Jul 12 while operating cash is projected at $312,400. Southeast Electrical PWP payment of $127,400 also due this week. LOC draw of $125,000 planned Monday Jul 10 — confirm with Robert Yates at Piedmont by Thursday.
Cash Declining to $312K in 32 Days — Here's Why
VelaData identified 3 converging factors: (1) BeltLine Capital Draw #2 ($374,400) won't land for ~25 days based on their 57-day average + SunTrust lender review. (2) $107,440 in fixed costs (payroll, crane note, insurance, surety) due in next 18 days — non-deferrable. (3) SE Electrical PWP of $1,274,000 releases in ~15 days when Peachtree Draw #7 lands. Without action: operating cash hits $312,400 (below $500K covenant). With LOC draw of $125,000 in Week 5: total liquidity stays at $2,062,000. Full recovery when Fulton Draw #4 lands Week 6.
Lien Waiver Missing — Metro Plumbing Solutions
Metro Plumbing invoice #MPL-2847 for $68,400 approved for payment but conditional lien waiver for Draw #7 not received. PM Kevin Marsh following up. Payment on hold until waiver received — lien deadline exposure in 14 days.
LOC Draw Required — Week 5 (Est. $125,000)
Operating balance projects to $312,400 before Week 5 payroll. LOC draw of $125,000 planned for Monday Jul 10. Fulton Draw #4 receipt in Week 6 enables $210,000 paydown Week 7. Confirm availability with Piedmont Commercial — Robert Yates.
Auburn Ave Draw #2 — Lender Delay Risk
BeltLine Capital Draw #2 ($416,000) in SunTrust lender review. BeltLine averages 57 days total — 8-12 days above their normal cycle due to lender. Monitor: if not approved by Jul 3, escalate to Patricia Odom.
Retainage Release Eligible — Riverside Logistics
Riverside Logistics Center approaching substantial completion (82% complete, Feb 28 target). $171,000 retainage eligible for partial release request. Recommend submitting release request to Greg Hawthorne 30 days prior to substantial completion.
BBC Filing Due — Piedmont Commercial Bank
Monthly borrowing base certificate due to Piedmont Commercial Bank by the 15th. Current BBC shows net availability of $1,247,000 against $3M facility. Generate and review before submitting to Robert Yates.