A Status represents the stage that an application or a loan is in the loan process flow. Each stage is represented by a Status Badge which changes as the application is processed to when the loan is closed. The status is displayed beside the application or loan on the tables on the Loans page is also displayed on the Applications Details Page and the Loan Details Page. Let’s walk through the different statuses available on the portal:
Important to note
The statuses on an application are different from statuses on loans. To learn more about how the difference between an application and a loan, click here [insert link]
Application Status
The status of an application represents the stage that the application is in the loan process flow. There are five Application Statuses, each with a different colour:
Pending: The application was started but it was not completed by the customer.
Under Review: The application is awaiting review by a member of your team
Approved: The application was approved
Denied: The application was declined
Abandoned: The application was abandoned by the customer i.e. a pending application that was not completed within 7 days
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