Construction Loan Partner
BECU has partnered with Land Gorilla to bring a streamlined construction draw experience to builders and BECU members.
Land Gorilla is a construction finance platform that gives BECU members and builders real-time access to request draws through the portal OneSite. With OneSite, borrowers can manage all draw activity in one centralized location to monitor inspections, past draws and new draws. It also integrates inspector and title updates for a more efficient process.
With Land Gorilla you can expect:
- A dedicated portal through OneSite with real-time access to request draws or monitor draw status.
- Faster approval and funding of draw requests.
- Easily submit draws online or through their mobile app.
- A centralized location to manage all draw activity including inspections, past draws and make new draw requests.
- Software that integrates inspector and title updates for a more efficient process.
- A transparent process from start to finish.
Construction Loan Draw Process with Land Gorilla
- Land Gorilla will contact both the builder and borrower for initial welcome call, which will include how to log into their system, and how to request draws.
- Each draw request must be approved by the borrower and include a lien waiver.
- Land Gorilla receives and reviews each draw and orders an inspection.
- Once the draw is approved by Land Gorilla, BECU issues a wire to the builder.
How To Become a Registered Builder
- Once a builder has expressed interest in becoming a registered builder with BECU, a BECU construction loan specialist requests a Builder Review through Land Gorilla and uploads the following documents:
- A completed Land Gorilla contractor/builder questionnaire.
- A contractor license(s).
- A W-9 form.
- General liability insurance.
- Workers' compensation insurance, if applicable.
- Land Gorilla takes approximately three business days to review the builder documentation.
- Land Gorilla will either condition for more documentation from the builder, accept the builder or reject the builder.
- The builder will move to a list of accepted contractors in our Land Gorilla portal.
If you are interested in learning more about BECU and its registered builder process, you can download the details here. Interested in becoming a registered builder? Email us at firstname.lastname@example.org.