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- Bank + Lending + Insurance
- Who it's for
- Equipment and commercial finance providers
Equipment and commercial finance providers
Equipment and commercial finance providers often need to connect a borrowing request with an appraisal and a planned use of funds. Bank + Lending + Insurance keeps the requested purpose, selected product and supporting evidence with the application. Credit Officer can explain the business case, while Independent Credit Approver records the amount, rate and term accepted for that revision.
How Bank + Lending + Insurance is set up for you
Purpose and evidence
Record Equipment Purchase as the loan purpose and connect the relevant collateral appraisal or financial statement. Review verification notes before deciding the case. If the supporting document changes, make the revision clear to the approver.
Tranche outcomes
Follow separate releases against the booked account. A provider may release an initial amount and hold a later tranche. The funded principal should be explainable from actual disbursement evidence, with outstanding issues visible to the lending team.
Installment handling
Review the due dates and component amounts before servicing begins. Verified repayments feed the allocation route, which bounds principal, interest and fees by the actual receipt and guards the schedule against another unreversed allocation.
Changed terms
Retain the reason and recorded approver for a reschedule or correction. Compare the prior schedule version with the changed obligation so earlier allocations remain understandable.
Equipment and commercial finance providers often need to connect a borrowing request with an appraisal and a planned use of funds. Bank + Lending + Insurance keeps the requested purpose, selected product and supporting evidence with the application. Credit Officer can explain the business case, while Independent Credit Approver records the amount, rate and term accepted for that revision.
Pilot an equipment facility with a released tranche, a held tranche and a repayment smaller than the installment due. Ask Independent Credit Approver to trace the application decision, funded amount and allocation. Repeat the allocation request through a different entry point to exercise the schedule guard.
Bring a representative appraisal and the lender's product parameters to setup. Agree who investigates provider exceptions and who authorizes a servicing change. Funding and repayment sources are connections to configure with their owners. If insurance accompanies the equipment request, record the offer in a linked bundle and keep the provider's issuance decision separate from the internal review. Use the pilot history to agree the rollout sequence.
Features to start with
Funding and schedules
Book approved terms and track disbursements confirmed by the provider.
Repayments and servicing
Apply verified receipts within their value and preserve the history of servicing changes.
Borrowers and products
Connect each application to the right borrowing entity and lending product.
Roles on the team
- Credit Officer
- Prepare assigned operational records and execute eligible reviewed actions.
- Independent Credit Approver
- Review eligible revisions independently and reconcile operational evidence.
- App Administrator
- Maintain organization configuration and membership.
- Auditor
- Read authorized evidence and reports.
- Admin
- Setup role for maintaining user access and loan product parameters and inspecting operational configuration without taking credit approval authority.
Set up Bank + Lending + Insurance your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.