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Your contractor account has been reviewed and is now fully set up with Lyon Financial. Your account status is Limited Deals at a time | Max of _2_. This means you can only have _2_ customer project(s) under construction at a time. If any additional customers obtain approval while you still have _2_ open customer project(s), they will be placed on hold until the completion of the project in front of them.

Below are additional details on the next steps, stage payments, and our process.  
The stage payment schedule(s) currently assigned to your contractor account is listed below:

Standard Hardscaping/Landscaping Stages: Home Improvement stages will vary based on Scope Of Work
25% at completion of Demolition and material delivery
25% at completion of Deck framing
25% at completion of Concrete pour
25% at completion of Project (includes landscaping if listed on contract)

Standard Decking/Paver Stages: Home Improvement stages will vary based on Scope Of Work
25% at completion of Demo and Material delivery
25% at completion of Grading for pavers
25% at completion of Completion of pavers
25% at completion of Completion of Project

Next Step- Setting up your preferred payment method.
Stage payments will be made directly to the contractor and will be paid by direct deposit. To prevent any delays, please ensure you have provided us with the completed direct deposit form showing accurate banking information along with a voided check. If we have any questions regarding this form, a member of our ACH accounting team will reach out. 

How Lyon Financial’s Process Works:

• New customers submit their loan applications online via our website www.lyonfinancial.net/apply
• Lyon Financial will review the application and alert the customer once a conditional approval is obtained from the lender.
• Once the customer is fully approved, the home improvement contract has been received, and the final financing numbers have been confirmed with the customer, we will proceed with issuing the customer their loan documents. Once the legal loan documents have been signed by the customer, we will send out a “Clear to Start Construction” email. This email is sent to both our mutual customer and you the contractor. This email acts as an official notification stating you are clear to start construction on the customer’s project.
• To release each stage payment, Lyon Financial requires a photo to be sent to our office showing the specific stage has been completed (This needs to be a current up-to-date picture).  Some lenders might also require a signed Stage Release Form. This form will be sent to the customer via PandaDoc for e-signature and must be signed and sent back before the payment can be processed. 
• To submit photos for payment, please send an email to lyonsupport@lyonfinancial.net. Please ensure to include the customer’s full name and address when submitting photos to ensure timely processing.
• For final payment, we will require the customer to sign a Verification Form, Completion Certificate (if applicable), and a photo of the completed project.

IMPORTANT INFORMATION- PLEASE READ: 
DISCLAIMER: Contractors are not authorized to submit applications on behalf of customer(s). All applications must be completed and submitted to Lyon Financial solely by the applicant(s).
Your status and stages are subject to change at any time at the discretion of Lyon Financial. 
As a reminder, no work is to be started and no funds will be released until Lyon Financial issues the Clear to Start Construction

Please Note:  If allowances are listed on the contract, Lyon Financial will require a scope of work detailing what is being done with the allowance.  Lyon Financial has the right to deny the allowance to be financed depending on lender guidelines. All allowances will be paid to the contractor directly and it will be their responsibility to ensure all sub-contractors are paid and work has been completed per the contract. Allowances are not permitted to be given to the customer as a cash reimbursement or to allow the customer to hire another sub-contractor on their own to complete work.  If the cost comes in less, Lyon Financial will require a change order reflecting the difference and those funds will be submitted back to the lender to be applied to the principal balance of the loan.


Thank you,
Contractor Services Department
Lyon Financial
877-754-5966