RE:RE:Financiali can understand that it is difficult for some to comprehend the project financing process. I have attached below two links that provide somekey information to our case and has all the info required to understand all the steps that management has gone through and will go through in future.
https://www.lexology.com/library/detail.aspx?g=1f327868-5f9b-4a44-9b84-380d125109bc
https://www.dentons.com/~/media/6a199894417f4877adea73a76caac1a5.ashx
I have had the "pleasure" of dealing with lenders throughout the whole process of a project financing of a much largert scale, but the same principle was applied.
The best part for management will be the lender audits and site visits on a regular basis. Just imagine having an arrogant p*ick sitting on the other side of the table (usually a third party representative assigned by the lenders) asking the most stupid questions, with their highest priority being, to show how good, amazing, perfect they are...I had that for three years, once every quarter. We had the best internal running gags for those meeting!
As to the drawdown, if its done too early its stupidy and amateur hour, since a lot of conditions kick in and the clock for repayment also starts ticking. One key part of a succesful project financing is creating precise cash forecasts (huge problem for a lot of project teams) and timing the drawdowns to match with the expected invoices of the upcoming weeks or month.