Product Settings Related to the Vendor Functionality

When a loan application is created for a specific Vendor and Store, the person creating it can always select a specific type of the loan (Settings → Loan settings → Credit products).

Some of the settings predefined for this product matter particularly for processing of such loans. In particular:

  • Name and Description

  • Visibility to the customer

  • Disbursement options

  • Commissions

  • Collateral and Two level approval

Product Name and Description

Product Name is visible to the Customers, Vendor and Store users when they are selecting the loan type, while product description is only visible to Lender’s Back-office users. However, it is recommended to keep both of them easy-to-understand. The products dedicated for specific vendors/stores can be supplied with a corresponding prefix.

Product Visibility

If the “Visible to customer” tab is disabled, this product will not be available for customers from the Web (it can still be chosen by an authorized Lender’s Back-office User, Vendor User or Store User)

Disbursement Options

Go to the “Disbursement Options” tab to define how the loan shall be disbursed.

The settings related to Vendor loans, is “Disbursement type”