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Table of Contents (Online Help)

Loan Approval Stages Settings

Loan Performer allows you to have different levels of loan approvals for people with different functions. There are three loan approval stages and you have to define the function of the user at each stage before you can use this functionality.

This process also works as an audit or control function where a loan process should not be handled entirely by a single person which can lead abuse of concealment of fraud. This approval process can be done by different loan products

How to set Loan Approval Stages

To set Loan Approval Stages you go to System/Configuration/Loan Product Settings/Loan Approval Stages and a screen looking as follows shows up:

On the screen that shows up there are two options i.e

i. The place and position of the credit officers from loan application through the loan approval stages and

ii. The three loan approval stages.

On the place and position of the credit officers from loan application through the loan approval stages there are four options

• Only the credit officer logged in appears at loan application; When this option is selected, the loan application will display only the name of the credit officer who is currently logged in.
• The person who approves the loan in stage 1 can not be the same as the credit officer: When this option is selected, then the credit officer can not be the person approving the loan in stage 1 of the application.
• The person who approves the loan in stage 2 can not be the same as the credit officer:.When this option is selected, then the credit officer can not be the person approving the loan in stage 2 of the application
• The person who approves the loan in stage 3 can not be the same as the credit officer:.When this option is selected, then the credit officer can not be the person approving the loan in stage 3 of the application

The three loan approval stages:

• 1. Loan approval done once and by anybody who has access to the menu: Select this radio button option if your loan approvals are entirely done by one person at a time, see below:

Click on the Save command button to save the first stage of Loan Approval and on the Close command button to exit the menu.

2. Loan Approval in 2 stages: Select the second radio button if your loans are to be approved through 2 stages done by users with different functions, e.g., by "Branch Manager" and the "Supervisor". A screen like the one below will be displayed: 

Select the user function of the person approving the loan 1^st stage, e.g., "Branch Manager'" then select the user function of the person approving the loan 2^ndstage, e.g., "Supervisor".

Note: Once the first user approves in the first stage, the loan will still be available at the approval stage only for the next user. This happens in both the loan approvals in 2 and 3 stages

Click on the Save command button to save the 2 stage loan approval settings and on the Close command button to exit the menu.

3. Loan Approval in 3 stages: Select the third radio button if your loans are to be approved through 3 stages done by users with different functions, e.g., by "Loans Officer", "Branch Manager"  A screen like the one below will be displayed: 

Select the user function of the person approving the loan 1^st stage, e.g., "Credit Officer", then select the user function of the person approving the loan 2^nd loan approval stage, e.g., "Branch Manager" and then select the user function for the person approving the loan 3^rd loan approval stage, e.g., "Supervisor".

Click on the Save button to save the 3 stage loan approval settings and on the Close button to exit the menu.

Note: You can View/Print the parameters of the Loan Approval Stages configuration and keep them for future reference by clicking on the Print command button.

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