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How it works

Our Fintech Project Platform is built on-top of a US Bank

See how BuildWallet works in 8 steps.

Step 1 – Draft a New Project
Starts with the Owner initiating a New Project.
  • Uploads basic Property Information
  • Uploaded any Project Documentation
  • Drafts a Schedule of Values – SOV (Scope and Budget) as best as possible
    • Either from a Template or from Scratch
Note: We have free 1 hour Project Setup consultation anytime
Finished when the project is fleshed out and drafted as far as the Owner can, and is ready for Team Input
Step 2 – Unlock & Invite the Core Team
Starts when the Owner pays the one-time Project Fee of $300 from their Account Wallet
  • Receive Addressed one-time use build wallet for this project.
  • Invite Lender
  • Invite Contractor
Finished when the project is live and everyone is engaged and moving into production.
Step 3 – Finalize SOV & Initial Funding
Starts when the Contractor Submits “Draft” Bid Schedule of Values (SOV)
  • Owner and Contractor negotiate back & forth until the SOV Draft is ideal for both parties
  • UBoth parties Accept the SOV –> Now SOV is Locked & Active
  • Initial Funds are deposited from either the Owner or the Lenders Account Wallet directly into the Project’s build wallet.
Finished when the SOV is Active and the project’s build wallet has initial funds
Step 4 – Contract Work
Starts AFTER the Owner funds the SOV line item(s) from the build wallet.
  • (Owner can fund by individual Line Item or by Phase)
  • Then Contractor engages either Subcontractor or Material Provider for work
    • Contractor can either Create a Proposal or Request a Bid
  • Subs/Material Providers can Accept, Reject, or Negotiate as they see fit
  • Once Active, the Sub/Material Provider starts work and progresses to the first preset Payment Milestone.
Finished when the SOV is partially funded and Contractor has contracted initial Subs and Material Providers for early-stage work.
Step 5 – Verify & Pay
Starts when Sub/Material Provider work has progressed to the first pre-established Payment Milestone
  • Sub/Material Provider uses smartphone access in BuildWallet’s App to submit Invoice with geo-tagged photos
  • Invoices are submitted to Contractor for Approval or Revision
    • Approval = Electronic Payment Distribution
    • Revision = Punch List & Re-Submission
Note: Change-Orders are handled the same.
Finished when Contractor approves invoice and payment is sent directly to Sub/Material Provider’s digital account wallet.
Step 6 – Approval by Phase
Starts when Contractor completes all SOV Line Item scopes in a Phase
  • Contractor Completes and Pays 100% all SOV Line Items in that Phase
  • Submits Completed Phase to Owner for Approval
  • Owner reviews Completed Phase and Acknowledges + Approves that the work is completed 100% as agreed.
  • Upon approval – Contractor receives any Overhead, Profit, or Margin earned for that Phase directly into their digital Account Wallet.
Finished when Owner approves the Phase, and the Contractor is paid.
Step 7 – Adding Additional Funds
Starts when the Project’s build wallet is depleted (below an impactful amount)
  • The build wallet must be replenished to allow funding of future SOV Line Items so that the Contractor can contract work with future Subcontractors and/or Material Providers.
  • Owner and/or Lender puts additional funds from their Account Wallet directly into the Project’s build wallet.
Finished when the Project’s build wallet has a balance above what is needed for project cashflow needs.
Step 8 – Repeat Steps 4-7 until Close-Out & Archive
Continues with the platformed funding, escrow, contracting, invoicing, approval, and direct payments until the Project SOV is 100% completed.
  • Any remaining balance in the build wallet is remitted back to the Owner with the Lender’s approval.
Finished when the Project SOV is 100% “Completed”. The platform will prompt the Owner to Archive the Project for future review.