Upside Guaranty adds value in mitigating risk for a lender on a construction project, even if inspections are already in place.
Upside acts as an extra layer of oversight, ensuring financial and operational risks are minimized beyond what the lender’s standard controls cover.
Here’s how we do it:
01.
With each draw request, Upside performs a thorough project cost assessment by reviewing invoices, receipts, and payroll reports for incurred project costs.
02.
Upon verification of costs, Upside obtains partial lien releases and issues payments directly to each subcontractor and supplier involved in the project.
03.
Contractors receive payments for earned overhead and profit as the project progress. Upside’s payment management eliminates the middleman (developer or contractor) and gets the right payments to the right people, on time.
These processes verify costs, prevent overbilling, maintain lien-free projects, and support the overall efficiency of draw processing so lenders do not have to.
With a focus on risk mitigation and efficiency, Upside offers banks tailored solutions to supplement their construction draw processing.
Contact Upside Guaranty
Let’s talk about how we can reduce risk and speed up development.
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