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This is how it works:

  • New customer submits loan application. (Link below)

  • Lyon Financial will review the application and alert the customer once a conditional approval is obtained.

  • Once the customer is fully approved, the home improvement contract has been received, and final numbers has been confirmed, Lyon Financial will proceed with issuing the loan documents. Once the legal loan documents have been signed by customer, Lyon Financial will send out a “Clear to Start Construction” email. This will be sent out to both customer and contractor to notify both parties that construction may now begin.

  • To release each stage payment, Lyon Financial requires a photo to be sent to their office (done by the contractor) showing the specific stage has been completed.  Some lenders might also require a signed Stage Release Form.  If this is the case, this form will be sent to the customer via PandaDoc for e-signature and must be signed and sent back to Lyon Financial before the payment can be processed. 

  • For Final Payment, Lyon Financial will require a Signed Verification Form, Signed Completion Certificate (If applicable) & photo of the completed project.

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