Funding commitments

A funding commitment belongs to a loan application and an organization. It records the lender reference, initial deposit amount, submission time and revision used for a decision. The Credit Officer prepares the commitment in the same organization as the request. The Independent Credit Approver reviews the submitted revision with supporting evidence before an approval or rejection is recorded.

The commitment’s decision is distinct from the application credit decision. The application may be authorized while funding remains under review. A completed commitment also has a narrower meaning than a local approval: the provider must actually issue its authority before the team records completion. The provider application identifier and decision time give the next reviewer a way to trace that outcome.

• Draft and submission. The Credit Officer adds the lender reference and amount and presents a frozen revision for review.
• Independent review. The Independent Credit Approver checks organization scope, evidence and the preparer’s identity before deciding.
• Provider completion. The team retains the provider application reference and separates its actual authority from the review decision.

Decide what evidence a commitment must carry and where it is attached to the parent application. Agree how the lender reference is issued and when it is considered stable. The submission date, decision time and revision should tell a coherent story; a changed deposit amount requires another review, not an old approval carried forward. Set the responsible organization and reviewer scope before a commitment enters the decision queue.

Agree what provider acknowledgement establishes completion. A local approved state is a credit decision, while completed means the external authority has been confirmed. Decide who obtains that acknowledgement and how the provider identifier is recorded. If the provider returns a failure or an unclear response, retain it for investigation with the related operation receipt instead of making the commitment look finished.

An application has passed credit review. A Credit Officer records a lender’s commitment with the lender reference and intended initial deposit. The commitment moves from draft to submitted. The Independent Credit Approver checks the amount and supporting material, confirms they did not prepare the submission, and records a decision against its revision. A rejection leaves the commitment rejected with its reason available through the parent application’s decision trail.

For an approved commitment, the officer tracks the provider application identifier and waits for actual authority. If the provider responds later, the team compares the response with the submitted commitment and records completion only for the matching case. The Auditor can then follow the application, commitment, decision and external reference without treating an early approval as money received or an instruction completed.

• Commitments for decision — Submitted commitments with revision and amount ready for independent review.
• Commitment status board — Draft through completed work grouped by decision state.
• Funding completed — Commitments with recorded provider authority references.

Follow funding commitment review and provider submission. The data model shows the parent application relationship.