When does a contractor get paid on a financed job? Approval, completion sign-off and funding explained
Approval is not payment. With most point-of-sale lenders the money moves after the homeowner confirms the work, then lands in a few business days. Here is the full timeline and what slows it down.
By The Revcore team
Reviewed by Hayden Mitchell, founder
11 min read
Quick answer
When does a contractor get paid on a financed job?
With most point-of-sale lenders, you get paid after the work is done and the homeowner confirms completion, not when the loan is approved. Wisetack, for example, says it sends funds the next business day after the customer confirms, with 1 to 3 more business days at your bank. Some lenders, like GreenSky, also let you draw progress payments on bigger jobs up to a staged funding limit.
The first financed job surprises a lot of contractors. The homeowner got approved at the kitchen table, signed the contract, and the crew finished the install. Then the office asks: where is the money?
Point-of-sale financing does not pay you when the homeowner is approved. It pays you when the lender is satisfied the work is done and the homeowner has agreed to release the funds. That is a good system for the homeowner, and a manageable one for you, as long as you plan for it. This guide walks through the timeline step by step, what published lender pages say about funding, how staged funding works on large jobs, how deposits fit in, what delays payment, and how it compares with card and ACH.
How does funding work on a financed home improvement job?
Programs differ in the details, but most point-of-sale lenders follow the same basic sequence.
The homeowner applies
Usually on their own phone from a link, a QR code or the estimate. They enter their own personal and income information. GreenSky's merchant FAQ, for example, says customers provide details such as name, address, Social Security number and monthly income, and the merchant verifies identity with a government photo ID.
The lender approves an amount
The homeowner gets a decision and an approved amount, and picks a plan. Nothing has been paid to you yet. The approval is a promise to fund if the job goes ahead.
The homeowner accepts the loan terms and you sign the contract
The homeowner signs the loan agreement with the lender, and your contract with you. Make sure the contract amount and the financed amount line up.
You do the work
On a single-day job like a water heater or HVAC changeout, this is tomorrow. On a roof or remodel, it may be weeks. With most programs, your cost for materials and labor is out of pocket until funding.
The homeowner confirms completion
This is the trigger. Depending on the lender, the homeowner taps a button to release payment, approves a text or email, signs a completion certificate, or confirms by phone when the lender reaches out.
The lender funds you
The lender sends the money to your bank, usually by ACH. Published timing ranges from the next business day to about two business days to send, plus your bank's own processing time.
What do lenders actually say about funding timing?
Here is what three lenders publish on their own merchant and customer pages. These are their words and figures, not ours, and programs change, so confirm with your lender.
Swipe the table to see every column.
| Lender | What triggers funding | Published timing | Staged funding |
|---|---|---|---|
| Wisetack | The customer confirms the job in the financing application | Sent the next business day by ACH; 1 to 3 more business days depending on your bank | Not described on the pages we reviewed |
| GreenSky | The customer approves the transaction by text or email | Payments received within two business days | Progress payments up to your staged funding limit, through the merchant portal |
| GoodLeap | After the work is done, GoodLeap contacts the customer to confirm project status; customers can pause the process if issues come up | Not stated on the page we reviewed | Not described on the page we reviewed |
Next business day
Wisetack sends funds after the customer confirms, by ACH
1 to 3 days
additional business days at your bank, per Wisetack
2 business days
GreenSky's published window after the customer authorizes payment
Software platforms that resell a lender describe the same flow. Housecall Pro's help center says the customer must confirm the work is complete on their loan application before funds are disbursed, and the job shows as payment pending until then.
Put together, a realistic target for a single-visit job is money in your bank a few business days after the homeowner confirms. The variable you control is how fast that confirmation happens.
What is a completion certificate?
A completion certificate (sometimes called a certificate of completion or completion sign-off) is the homeowner's confirmation to the lender that the work is done as agreed. On app-based programs it is often a button or a text reply, not a paper form. On some programs it is a signed document. Either way, it does the same job: it tells the lender the homeowner accepts the work and authorizes payment.
This protects the homeowner, who does not want to pay for a job that is not finished. It also protects you: a homeowner who confirmed completion has a much harder time claiming later that the work was never done. Treat it like the final walk-through signature it is.
How does staged or milestone funding work on big jobs?
On a single-day HVAC changeout, waiting for completion is easy to absorb. On a $31,871 asphalt roof (the 2025 national average in the Remodeling Cost vs Value report), a full remodel, or a multi-week project, fronting all materials and labor until the end is a real cash flow strain.
Some lenders address this with staged funding. GreenSky's merchant FAQ says merchants use the merchant portal to process progress payments up to their staged funding limit, then process the final payment the same way when the project is complete. Each payment still needs the homeowner's authorization.
Not every program works that way. Many app-based lenders fund once, at completion. Before you finance a long project, ask your lender:
- Can I take progress or milestone payments, and what is the limit before completion?
- What does the homeowner need to do to release each stage?
- Is there a maximum job size, and what happens if a change order pushes the job over the approved amount?
- How long is an approval valid before the loan must be used?
- Is the fee taken out of each payment, or billed separately?
That last one matters for reconciliation. Some programs net the fee out of what you receive. GreenSky's FAQ says it invoices participating merchants each month for the previous month's transactions. Know which one you have so your bookkeeper is not chasing a short payment.
Can you take a deposit on a financed job?
Often, but coordinate it. If the homeowner finances the full contract amount, a separate deposit from their own pocket is money on top of the loan, so the numbers must add up. Common setups:
- Deposit plus financed balance. The homeowner pays a deposit by card or bank transfer at signing and finances the rest. The financed amount is the contract minus the deposit.
- Staged funding covers the early money. Where the lender allows progress payments, the first stage does the job of a deposit.
- Full amount at completion. On short jobs, many contractors skip the deposit and wait a few days for funding.
Deposit amounts are also regulated in some states, and the rules differ for home improvement contracts. Check with your lender and counsel. For how to size deposits and draws in general, see deposits, draws and stage payments.
What can delay funding on a financed job?
Most delays are not the lender being slow. They are something in the file that does not match, or a homeowner who has not done the last step.
Swipe the table to see every column.
| Delay | What happens | How to prevent it |
|---|---|---|
| Homeowner has not confirmed | Funding waits indefinitely | Walk the job with them and ask them to confirm on their phone before the crew leaves |
| Homeowner is unhappy with something | They hold or pause confirmation until it is fixed | Punch list at the walk-through, fix it, then ask for confirmation |
| Amount does not match | The job total is higher than the approval, or differs from the loan | Write signed change orders and update the financed amount before completion |
| Approval expired | The homeowner may need to reapply | Note the approval window on the job and schedule inside it |
| Wrong bank details | Funds cannot land or go to an old account | Check your bank information in the lender's merchant portal before your first job |
| Missing paperwork | The lender cannot release payment | Keep the signed contract, change orders and completion photos on the job |
Change orders are the sneaky one. A homeowner approved for $12,000 who adds a $2,500 upgrade halfway through needs the financed amount updated or a separate way to pay the difference. Settle that when you write the change order, not at the end.
How does lender funding compare to card and ACH payouts?
The funding clock is similar to card and ACH. What changes is when it starts.
Swipe the table to see every column.
| Method | When the clock starts | Typical time to your bank | Cost to you |
|---|---|---|---|
| Card through Revcore | When the homeowner pays | Payouts in about 2 business days, or instantly for 1.5% | 3.65% + 30¢ |
| ACH through Revcore | When the homeowner pays | Up to 4 business days to confirm, then your payout schedule | 0.8% capped at $5, plus a 0.75% platform fee |
| Point-of-sale financing | When the homeowner confirms completion or authorizes a payment | About 1 to 4 business days, per the lender pages above | The lender's dealer fee, which varies by plan |
So the real trade is not speed once the money moves. It is that card and ACH can be collected at signing, while financed money usually waits until the work is done (unless you have staged funding). In exchange, the homeowner who could not write a check says yes. For how card and ACH compare on cost, see ACH vs credit card payments for contractors. For the fee side of financing, see what is a dealer fee.
How do you get paid faster on financed jobs?
- Match the numbers at signing. The contract, the estimate and the financed amount should agree to the dollar.
- Track the approval window. Put the expiry date on the job so scheduling can see it.
- Paper every change. Signed change orders keep the financed amount honest and the homeowner unsurprised.
- Do a real walk-through. Walk the finished job with the homeowner, take completion photos, and fix the small stuff on the spot.
- Ask for the confirmation before you leave. The homeowner is standing in the finished room. That is the moment, not a text two days later.
- Watch funding status daily. Someone in the office should see which financed jobs are complete but not funded, and follow up.
Step six is where software helps. Revcore's homeowner financing is coming soon, not live yet, and it will be included on every Revcore plan when it launches. When it does, funding status will show on the job, so your office sees which financed jobs are approved, complete and funded in the same place as the schedule and the invoice. Timing will depend on the lending partner and the job. You can see the financing preview.
Live today: estimates with an in-home presentation, e-signature and a deposit at signing, change orders, a homeowner portal, text-to-pay invoices, and card and ACH payments with payouts in about 2 business days, or instantly for 1.5%. For collecting on completion without financing, see how to get paid on the day of the job.
Frequently asked questions
Do contractors get paid upfront with customer financing?
Usually not. With most point-of-sale lenders, the contractor is paid after the work is done and the homeowner confirms completion. Some lenders, such as GreenSky, allow progress payments on larger projects up to a staged funding limit. Ask your lender how their program works.
How long does it take to get paid by Wisetack?
According to Wisetack's help center, once the customer confirms, Wisetack sends the funds the next business day by ACH, and it can take one to three more business days for your bank to show them. The customer must confirm the job in their financing application first.
How long does GreenSky take to pay contractors?
GreenSky's merchant FAQ says that once the customer approves the transaction, payments are received within two business days. It also says merchants can process progress payments up to their staged funding limit and the final payment at completion.
What is a certificate of completion in contractor financing?
It is the homeowner's confirmation to the lender that the work is finished as agreed, which authorizes the lender to pay you. On many programs it is a button or text in the homeowner's app. It must come from the homeowner and only after the work is done.
Why hasn't my financed job been funded?
The most common reasons are that the homeowner has not confirmed completion, the job amount does not match the approved or financed amount, the approval expired, or your bank details in the lender's portal are wrong. Check the job status with your lender and follow up with the homeowner.
Can I take a deposit if the customer is financing?
Often yes, as long as the deposit and the financed amount add up to the contract total and your lender allows it. Some states limit home improvement deposits. Check with your lender and counsel before setting your policy.
Further reading: the pillar guide on how to offer financing to customers, and contractor financing programs compared.
Written by the Revcore team. Reviewed by Hayden Mitchell, founder of Revcore Pro, who closed $3.5M of home improvement at kitchen tables and helped scale a contractor from $1M to $10M.
