Financing Applications

An importer needing a letter of credit or an exporter needing pre-shipment finance starts with an application. It records a record number, a subject, the borrower, the requested principal in US dollars, the annual rate and term, the submission date and the Credit Officer who owns it. The borrower comes from the approved borrower list, with its eligibility note.

Evidence is collected as numbered lines: the evidence type, the date received, the provider reference, whether it is verified and when it expires. Supporting files, such as the sales contract, pro forma invoice and financial statements, are attached with their visibility.

• Draft until complete. The application stays Draft while the officer collects evidence, then moves to Submitted and on to Under Review.
• Evidence with expiry. Each evidence line records when it expires, so a stale credit report or insurance certificate is visible before the decision.
• Version numbers on every change. Changes after submission raise the version, and the decision applies to the version reviewed.

Agree the evidence each product needs, such as the sales contract, KYC documents, credit bureau report and insurance. Decide how long each evidence type stays valid. Load approved borrowers with eligibility notes. Agree who may submit applications and how a borrower withdraws one.

A machinery importer asks for a $750,000 letter of credit to pay a supplier 120 days after shipment. The Credit Officer records the application against the importer with the requested principal and term, logs the sales contract, the pro forma invoice and a credit bureau report as evidence lines and attaches the files.

The bureau report expires in ten days. The officer submits the application and moves it under review that day, so the Credit Approver decides while the report is still current. The application, its evidence and the version reviewed are all on one record when the instrument is prepared.

• Applications Submitted — New applications waiting to go under review, with borrower, amount and term.
• My Applications — The applications the signed-in officer owns.
• Application Pipeline — Every application grouped by status.

The Operations Overview page shows what is approved, outstanding, stuck and needing attention now.

• Financing application to approval: From draft application to an underwriting decision.
• Letter of credit issuance and drawings: What happens after approval for a letter of credit.

Review the implementation plan and the data model before importing open applications.