[Contractor Only] How do I submit a payment for my contractor fees?

You won’t need to submit any payments! Upgrade takes the hassle out of contractor payments by simply following the below process:

Each time an advance is made to pay for a borrower’s home improvement project with you, the amount of the advance minus the applicable contractor fee will be deposited into your bank account on file. The contractor fee will only be applied to the amount of the advance actually made, not the full loan amount that the borrower was approved for.

For example, if the contractor fee on a selected plan is 2% and you, as the contractor, agreed with the customer that you would request a payment of $2,000 to purchase materials, you will receive a total of $1960 ($2,000 less 2% of that amount) into your account.

Articles in this section

• [Contractor Only] How do my customers pay me through Upgrade?
• [Contractor Only] What are the interest rates available to consumers?
• [Contractor Only] What if my customers usually pay in cash, why would using Upgrade be beneficial?
• [Contractor Only] How do I receive funding for the project?
• [Contractor Only] How do I submit a payment for my contractor fees?
• [Contractor Only] How do my customers submit an application?
• [Contractor Only] How long will it take to receive funds when starting a project?
• [Contractor Only] What does my customer need to provide when applying for a Home Improvement Loan through Upgrade?
• [Contractor Only] What happens if I can’t complete the home impovement project in the allotted time?
• [Contractor Only] What happens if I don’t use all the funds my customer was approved for?