Where it usually breaks
And how to keep it from happening.
- Evidence expires between submission and decision.
- Terms change after approval and the old decision is relied on.
- The officer who prepared the application also approves it.
- Trade Finance Platform
- Process
- Financing application to approval
Financing application to approval
Prepare a financing application with evidence, put it under review and record an independent decision.
Step by step
-
Submit application Credit Officer
Credit Officer records the borrower, requested principal, rate and term, collects evidence lines and files, and submits the application.
- Application Submitted
- Updates Loan applications, Application evidence, Record attachments
-
Put under review Credit Officer
Credit Officer moves the complete application under review. The version under review is the one the approver decides.
- Application under review
- Updates Loan applications
-
Underwrite application Credit Approver
Credit Approver, independent of the officer, approves, returns or declines the application with a reason. Approval records the approval date and decision reason.
- Application Approved, Declined or returned
- Updates Loan applications, Review decisions, Operation receipts
ApprovalA person approves before the work moves on. -
Rework a returned application Credit Officer
Credit Officer addresses the reason, adds evidence and resubmits a new version.
- New version submitted
- Updates Loan applications, Application evidence
-
Withdraw Credit Officer
If the borrower no longer needs the facility, the application is marked Withdrawn.
- Application Withdrawn
- Updates Loan applications
Who does what
Roles and permissions- Credit Officer
- , Credit Approver.
Set up Trade Finance Platform your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.