How Back-office users can select/manage a vendor and store for a loan application
Lender’s Back-office users can define the vendor and store, such that the customer wants to obtain the loan to purchase the goods or services of this vendor and in this store. Such a choice is only possible if the following preconditions have been met:
There is at least one vendor with at least one store defined in the system
Loan has not been approved
Collateral for the loan has not been approved
Selecting Vendor and Store for a New Loan
When creating a loan on the Origination workplace (Origination → + New application button), Back-office user provides a number of loan details, including the Vendor and Store.
Click inside the ”Vendor” selector. All available vendors will be displayed.
Click inside the “Store” selector. All the stores available for this vendor will be displayed.
Fill in the rest of the fields and click the “Next” button.
Editing Vendor and Store for an Existing Loan
Once the Vendor and Store have been selected, they will be displayed at the top of the loan page. Lender’s Back-office users can change the information at any point of the loan application processing before the
Click the pencil icon to change the vendor details. The change can be performed until the loan has been sent for approval.
Select the new vendor or store and click the “Apply” button
Selecting/Editing Vendor and Store for an Existing Loan
This option is available until the loan has been approved or its collateral has been approved, and can be used if the loan conditions have changed. It’s not recommended to make it a part of the standard flow for the company.
If a loan has been created that has to be connected to a vendor and store or the vendor and store have changed before the loan or its collateral is approved, Lender’s Back-office user can update the vendor and store details.
Open the Loan page
Select the Initial schedule tab
Click the “Change terms” button
As a part of the terms, you can change the vendor and store.