Once you get to the Submit Loan Agreement step of the loan process, you will be brought to the Select Funding Date page. If the work has been fully completed, click the checkbox confirming the Work is Complete and click save
If the work has not yet been completed, you can select a Funding Date from the drop down options provided. In order for the loan to be funded by this date, all funding conditions must be met, including work completion. If the Loan Agreement is not submitted by this date, you must choose a different funding date and sign and submit a new Loan Agreement. Once you are done selecting the Funding Date, click Save
You are brought to a page that lists the documents that will need to be signed for the loan to be funded. The borrower can only sign the Letter of Completion on the Funding date selected by you, not before. If the work was completed earlier than expected, you can change the funding date to reflect this and have the borrower sign the Letter of Completion once the work has been completed.
You can change the Funding Date if you are on the Submit Loan Agreement page. You can do this if the Funding Date you previously selected has changed. If you change it to today’s date, you will have access to the Letter of Completion for your borrower to sign. If the borrower has previously signed the loan documents, and you change the funding date, you will be prompted to have the borrower sign new documents reflecting the updated funding date.
If the borrower is with you, you can click to “E-Sign” Documents and then click Sign Now, and have them read and sign the loan documents. If the borrower is not with you, you can click E-Sign Documents, and then choose to Email the Documents to the borrower to do an e-signature at home. You also have the option to print, have the borrower sign, and then submit the documents to us.
To complete an e-signature, the borrower will fill in their signature with their mouse in the signature box, and then click the checkbox stating they have read and agree to the ESIGN Consent Terms. Click Begin.
The borrower will read through the documents and then click the Continue After Reading Document button. They will click Start and apply their signatures where necessary and click Next to go to the next box that requires a signature and then click Apply Signature. They will
Before a loan can be funded, the work that the loan is for must have been completed by your company. The borrower will confirm the work has indeed been completed by signing a Letter of Completion which states that the work has been completed as expected.
Once the borrower has signed the Letter of Completion and all other funding conditions have been met, the loan will be funded.