Approving and rejecting loans
The credit decision: approval officers, approved amount, rejection, withdrawal and bulk approval.
Approve a loan
- Open the submitted loan and review the member, guarantors, collateral and credit-check results.
- Click Approve.
- Enter the approved on date and the approved amount — it can be lower than the applied amount.
- Add approval notes (the committee’s conditions) and save.
| Field | Required | What it means |
|---|---|---|
| Approved on date | required | Date of the credit decision. |
| Approved amount | required | Amount the committee agreed to lend. |
| Notes | optional | Conditions or reasons — kept on the loan’s history. |
Who can approve
A user needs the approve permission and, if the product lists approval officers, must be one of them. This lets you require, for example, that only the branch manager approves loans above a size.
Reject or withdraw
- Reject — the institution declines the loan. Record the reason.
- Withdraw — the member no longer wants it.
Both can be undone if done in error.
Bulk approval
After a credit committee meeting, select several submitted loans in the list and approve them together; bulk undo approval is also available.
Important
Separation of duties: the officer who created the loan should not approve it. Configure approval officers on each product to enforce this.
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