Introduction

A loan follows its own lifecycle, starting with its creation and progressing through various recommendation and approval stages. The process concludes when the loan is paid off, rejected, or canceled. To track this cycle, loans are assigned statuses that change as they are processed. The "Workflow" tab in the loan details provides an overview of the key statuses throughout the history of a specific loan.

Loan Status Table

This table offers a detailed description of the loan statuses. The "Status ID" field is for internal use, but it can also be referenced by customers when communicating with company support.

Please note that the order of statuses may not always align with the actual status flow, and certain peculiarities in the table may vary in specific cases.

Some statuses may appear multiple times in the same flow and are therefore listed multiple times in the table.

Icon	Status	Preconditions	Description	Workplaces	Possible Status Change Related Actions

Status	Preconditions	Description	Workplaces	Possible Status Change Related Actions
Pre-Origination (0)	A customer or back-office user has initiated the creation of a loan application AND The application hasn't yet been submitted	A loan Application is being created Customer logs in, or an account is created for the customer	Start page Origination
Origination (1)	The customer is created in the system	Basic customer and loan details are collected and entered into the system The initial decision is being made to recommend or not recommend the loan application for approval.l is being made	Origination	Recommend for approval Cancel the application
Pending Initial Payment (200)	The loan application has been recommended for approval AND The credit product requires a commission of a "Pre-approval fee" type OR The loan application has been approved AND The credit product requires a commission of a "Pre-disbursement fee" type	We are waiting for the customer to pay a pre-approval/pre-disbursement fee	Underwriting	Confirm that the payment has been received (enables further processing) Cancel the application
Initial payments expired (250)	Pre-approval/Pre-disbursement fee has not been paid within the defined period (before the start date defined for the credit product)	The loan application is closed	Archive	Final Status
Collateral (12)	Collateral evaluation is required for the credit product ("Credit product → Use collateral" is on) AND The loan application has been recommended for approval at the Origination stage	The loan's collateral is being added and evaluated A decision to recommend/not recommend the loan application for approval is made	Collateral	Recommend for approval Return for reprocessing Reject the application Cancel the application
Auto Processing (3)	Loan application recommended for approval at the Origination Stage AND If required, the initial payment has been made AND If required, the loan application has been recommended for approval at the Collateral stage	The system automatically processes the loan application based on the credit product settings (including Credit Bureau requests, Business Rules, and Scorecard checks) Subject to the system and credit product settings, an automatic decision to recommend/not recommend/approve/reject the loan is made	Risk Evaluation Underwriting (the actions are performed in the background and their results are visible in the Underwriting and Risk Evaluation workplaces)	Automatically recommend for approval Automatically approve Automatically reject
Risk evaluation (24)	The credit product requires a two-step approval AND The loan application satisfies all previous conditions and checks (initial payment, collateral, auto-processing)	The loan application is being pre-checked by an authorized Credit Manager A decision to recommend/not recommend the loan application for approval is made (if recommended, the loan moves on to Underwriting)	Risk Evaluation	Recommend for approval Return for reprocessing Reject Cancel the application
Bank Account Verification (100)	The loan application has been recommended for approval AND The bank account defined for the loan application has not been confirmed (this check may be performed at different steps of the loan application assessment (before disbursement)	A bank account verification process is required	Underwriting	Request the customer to pass the bank account verification Return for reprocessing Cancel the application
Waiting for Bank Account Verification (102)	A bank account verification has been requested	We are waiting for the customer to verify the bank account	Risk Evaluation Underwriting	Contact the customer Return for reprocessing Cancel the application
Waiting for a response from the bank service provider (103)	The customer has passed bank account verification, but the answer from the service provider has not been received	We are waiting for a response from the remote bank provider service	Risk Evaluation Underwriting	Request another check Contact the service provider (beyond the system) Return for reprocessing Cancel the application
Bank account verification expired (101)	The bank account defined for the loan application has not been confirmed within the specified period	The loan application is closed	Archive	Final status
Reprocessing (2)	The loan application was returned for reprocessing (after Collateral or Risk Evaluation, or by an authorized Underwriter)	Basic customer details are edited or updated The initial decision to recommend/not recommend the loan is confirmed or updated	Origination	Recommend for approval (repeatedly) Cancel the application
Waiting For Approval (4)	Manual approval is required for the credit product AND The loan application satisfies all the previous conditions and checks (initial payment, collateral, auto-processing, risk evaluation)	The loan application is awaiting the decision of an authorized underwriter An authorized underwriter is taking the final decision on the application approval	Underwriting	Approve Return for reprocessing Reject Cancel the application
Waiting for offer confirmation (17)	An underwriter has initially approved the loan and sent the customer an offer (or multiple offers) The customer has not yet confirmed the offer	We are waiting for the customer to accept an offer	Underwriting	Contact the customer Register offer confirmation in the system Cancel the application
Offer declined (301)	The customer has declined the offer	The loan application is archived	Archive	Final status
Offer expired (302)	Offer(s) has been sent to the customer AND No offer has been confirmed by the customer within the specified time period	The offer has not been confirmed The application is archived	Archive	Final status
Waiting for signature (18)	The loan application satisfies all the previous conditions and checks (in particular the offer is confirmed) AND An agreement has been sent to the customer	We are waiting for the customer to sign the agreement	Underwriting	Contact the customer Cancel the application
Agreement declined (19)	The deal has been sent to the customer AND The customer has declined the agreement	The loan application is archived	Archive	Final status
Agreement expired (20)	The agreement has been sent to the customer AND The customer has not signed the agreement within the defined time period	The loan application is archived	Archive	Final status
Waiting for Down payment (23)	The customer has confirmed the offer (if required) The credit product requires a commission of a "Down payment" type	The loan is waiting for a Down payment.	Underwriting Servicing	Contact the customer Register payment in the system Cancel the application
Approved (5)	The loan application satisfies all the previous conditions and checks The loan application has been approved (as a result of Auto Processing or at the Underwriting workplace)	The loan application is awaiting disbursement BUT It can still be rejected by an Authorized Underwriter	Servicing Underwriting	Initiate disbursement (Servicing) Reject (Underwriting) Cancel the application
Rejected (6)	The loan application was rejected (as a result of Collateral or Risk evaluation; Auto Processing or authorized Underwriter's decision)	Processing of the loan application is on hold BUT It can still be approved or sent for reprocessing by an authorized Underwriter The loan application is added to the archive	Underwriting Archive	Sent for reprocessing Approve
Gathering Investments	The loan application has been approved The credit product implies peer-to-peer investment Not all the required loan amount has been collected	Investments for the loan are being collected	Servicing	Reject Cancel Register collection of the full amount of the investments in the system
Disbursement in Progress (14)	Back-office user has initiated disbursement over a third-party system	Disbursement of the loan via a payment system is currently processing.	Servicing	Cancel Disburse manually
Disbursement Failed (13)	Back-office user has initiated disbursement over a third-party system AND The disbursement has failed	The flow is back to the state where it was before the disbursement	Servicing	Initiate disbursement (Servicing) Cancel the application
Active (7)	The loan has been successfully disbursed to the customer	Loan is being serviced: Schedule is updated Payments are collected Any payment issues are registered	Servicing Collateral (if collateral needs to be re-valuated) Collection (if there are any past dues)	Register payment Restructure the loan Set the loan to the paid-off status Set the loan to the repaid status
Past Due (8)	The loan payment wasn't performed on time	There is a past-due debt for this loan that has to be paid	Servicing Collection Collateral (if collateral needs to be re-valuated)	Register payment Restructure the loan Set the loan as paid-off Set the loan as repaid
Repaid (9)	The loan is fully repaid and closed.	The loan is fully repaid and closed.	Archive	Final status
Post-processing	The customer has returned the goods or refused the service	The customer has rejected the goods or services in accordance with their legal right - the loan must be closed and the money collected back	Post-processing	Reversed
Reversed	The loan is closed because a customer has been returned the goods or service	The loan application is archived	Archive	Final status
Written off (10)	The loan has been automatically or manually written off and closed.	The loan application is archived	Archive	Final Status
Customer deleted (21)	The loan is closed because the customer has been deleted.		Not visible	Final status
Canceled (22)	The loan is canceled and closed at any of the stages above	The loan application is archived	Archive	Final status