When a loan application is submitted, it goes into a pending status and awaits either approval or rejection. If the application does not meet the loan criteria, it can be rejected by a loan officer or any user within the organization who has the role and permission to do so.
Upon rejection, the loan application status changes from "Pending" to "Rejected".
The rejected loan details are still accessible and can be viewed on the console
To reject a loan, follow these steps:
- Select the loan you want to reject.
Ensure the loan current status is “Pending”.
- Click on the Take Action button.
- Click on Reject from the list and enter the date rejected and (optional) a description.
- Click on the Submit button.
You will receive a pop-up notification confirming that the loan has been rejected!!
Updated 5 months ago