Credit Application Record
Prospect Conversion
A credit record is created through the prospect conversion functionality.
On the Prospect record, mark the check box for 'Run Prospect Conversion' as true. as shown in the screenshot below.
2. Credit application record gets created and attched to the prospect record as shown below. To access the Credit Application record, simply click on the link.
Create a record manually
A Credit Application record can be created by manually entering the details.
In Credit Application object tab, click on ‘New’
2. Select the record type and click ‘Next’.
3. Fill the required details and click ‘Save’
4. The Credit Application Record got created as shown below.
Filling the Form
The form can be customized as per the business requirements. There are two ways to fill in the form first, by the applicant - The applicant will be able to access the form through the link to the site. This will be unique for every company. And second, by the salesforce user.
Select the type of application you want to fill in.
2. Fill in all teh details as you move along the form.
4. Fill all the required fields and agree to the Terms & Conditions and click on ‘Submit’ on the last section.
5. Once an application is filled, a credit application record is created as shown below.
Run External Apps
Click on ‘Rund External Reports’ to run reports like Credit Report, Criminal Report, Business Credit Report, DL verfication and OFAC Report.
Mark the checkboxes as true to run the reports and clik on ‘Save’.
3. Run reports would be visible in the related section of Business Role object
Generating Lease/Loan Payment Schedule
This feature enables the user to generate lease or loan amortization schedules. Amortization means gradually paying off a debt over time through regular payments. It's like paying for something in small, equal installments until you've paid it off completely. An amortization schedule is a table that shows how your loan payments are split between paying off the principal (the amount you borrowed) and the interest (the cost of borrowing) over time. It also shows your remaining balance and total interest paid.
To generate schedules, following fields must be populated under ‘Credit’ tab.
2. Once all the fields are filled, click on ‘Generate Schedule’ button. Enter the details as per applicant’s requirements and click ‘Generate’ as shown below:
3. The schedule will be created as shown below. The user can create multiple schedules as per discussions with the applicant. Only one schedule can be marked as final.
4. To view the schedule click on the ‘eye’ icon.
5. The schedule will appear as shown below. To save the schedule as pdf, click on ‘Save as pdf’.
6. Saved payment schedules will appear in 'Files' related section as shown below.
Document Checklist
This feature is used to send stips and track received document checklist items.
Go to ‘Document Checklist’ tab
2. Here, the user can see the documents required at each stage
3. To upload a document, click on the icon highlights below.
4. Once, the icon is uploaded, the upload icon wil change to eye icon. The user can view the document uploaded by clicking on the eye icon.
5. The user can edit the document by clicking on the ‘pencil’ icon. The user can change the status of the document, add deficiency if there is any and add any comments. The click Save. To view document, click on the eye icon below ‘Media Link’
6. The changes made will appear as shown below.
