NavigateERP for African business

A loan from application to closure

Checks, guarantors, appraisal, approvals, offer, disbursement.

Steps

  1. Loan application: choose the member, product, amount and term - see the eligibility checks (active, member long enough, within the amounts and × deposits, no arrears) and what it costs before starting.
  2. Add the guarantors (each within what they can still guarantee) and record each one's answer; Submit.
  3. The credit officer appraises: income, obligations, risk, the recommendation.
  4. Approvals: as many different people as the amount needs (Rules) - never whoever entered it.
  5. Print the offer; when the member accepts, Disburse (M-Pesa, bank, cash or to their savings). The schedule starts.

Good to know

  • Payments are applied oldest instalment first: penalty, fees, interest, principal. Fully repaid, the loan closes and the guarantors are released.