Loan Application Process
Comprehensive loan application process from initial application through disbursement
Objective
Streamline loan processing while ensuring thorough verification and compliance
Participants (5 roles)
Input
Loan application request from customer
Output
Approved and disbursed loan or rejection notification
Process Flow
flowchart LR
node0["Collect Application Information"]
node1["Verification"]
node2["Credit Committee"]
node3["Approval"]
node4["Legal Documentation"]
node5["Disbursement"]
node0 --> node1
node1 --> node2
node2 --> node3
node3 --> node4
node4 --> node5
classDef default fill:#1e293b,stroke:#3b82f6,stroke-width:2px,color:#e0e7ff,padding:10px
Performance Metrics
7-10 days
averageProcessingTime
65%
approvalRate
98%
documentationAccuracy
4.2/5
Customer Satisfaction
Stages Overview
| PROPERTIES | STAGE 1
Collect Application Information | STAGE 2
Verification | STAGE 3
Credit Committee | STAGE 4
Approval | STAGE 5
Legal Documentation | STAGE 6
Disbursement |
|---|---|---|---|---|---|---|
| Stage Owners | Loan Officer | Credit Analyst | Credit Committee | Credit Committee | Legal Team | Disbursement Officer |
| Stage Workers | Credit Analyst | Loan Officer | Credit Analyst | Loan Officer | Loan Officer | Loan Officer |
| Duration | 1-2 days | 2-3 days | 1-2 days | 1 day | 1-2 days | 1 day |
| Output Fields | •
Company Information* •
Funding Amount Requested* •
Contract/Purchase Order* | •
Latest Six Months Bank Statement* •
Identity Verification Status* •
Criminal & Credit Check Result* | •
Credit Report* •
Risk Assessment* •
Committee Decision* | •
Approval Status* •
Comments •
Loan Conditions | •
Legal Docs Status* •
Loan Agreement* •
Signing Date | •
Fund Disbursement Status* •
Disbursement Amount* •
Transfer Reference* |
| To-dos | • Collect company and managing director information • Gather funding request and contract details • Obtain invoice information if applicable | • Verify identity and conduct background checks • Verify bank account and financial statements • Send pre-approval email to customer | • Verify all supporting documents • Write comprehensive credit report • Conduct credit committee meeting | • Finalize approval conditions • Document approval decision • Notify customer of approval status | • Prepare loan agreement and legal documents • Send legal documentation to client • Track document signing status | • Process fund disbursement • Confirm transfer completion • Update loan records |
Automation Rules
Automation 1: Field Value Alert
If Criminal & Credit Check Result equals, Then send notification to Credit Committee with message: "Background check issues found - requires committee review"
Automation 2: Custom Automation
If stage_overdue, Then escalate to Credit Analyst with message: "Verification stage overdue - please expedite"
Workflow Summary
Total Stages
6
Total To-dos
18
Output Fields
18
Automations
2