Once the Customer has been pre-approved, can the Contractor proceed with design, procurement, permitting, etc. with confidence that they will be paid at installation commencement and project completion?
It is up to the Contractor to decide whether to proceed after the Customer has been pre-approved or to wait until the
Customer has been fully approved. As explained above, a Customer is fully approved only after the Customer submits the
required info and takes the required steps as described above in the “Loan and Project Approval Process” section. There
is at least some risk that the Customer may not be able to provide verification of income, or may decide to procrastinate
on joining the credit union, etc. Clean Energy Credit Union’s standards for fully approving a loan application (e.g. by
requiring verification of income) are in line with generally accepted industry guidelines.