...
| Loan Application State | Action | Resultant Application Status |
|---|---|---|
| Begining | Submit Loan Application | State: ['Submitted and Pending Approval']
|
| State: ['Submitted and Pending Approval'] | Modify Loan Application | State: ['Submitted and Pending Approval']
|
| Add/Update/Delete Guarantors | State: ['Submitted and Pending Approval'] | |
| Add/Update/Delete Case notes | State: ['Submitted and Pending Approval'] | |
| Delete Loan Application | State: [] Completely removes the loan application from the information system | |
| Approve Loan Application | State: ['Approved'] | |
State: ['Approved']
| Undo Approval | State: ['Submitted and Pending Approval']
|
Loan Disbursement Process
Once the loan application has been approved the next step is for the MFI to disburse the funds/money to the loan applicant. In microfinance this can be done a number of ways:
- Full loan amount is handed over in cash to loan applicant (in local mfi branch, or in the field)
- Full loan amount is disbursed to applicant through a third party like a local bank or post office, possibly through a cheque
In mifosx at present we support the following around loan disbursement:
| Loan Application State | Action | Resultant Application Status |
|---|---|---|
| State: ['Approved'] | Diburse Loan
| State: ['Active']
|
...
| State: ['Active'] | Undo Loan Disbursement | State: ['Approved']
|
Note: Support for multiple disbursements: Tranche loans or Top-up loans
At present this feature isnt support but are aware of their suitability to microfinance so are looking to implement and add these features in if we can get a customer on the other end to validate and test our approach to these features from their point of view.
Loan Monitoring Process (Loan Contract)
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