Approve, decline or fund

Your choices

Approve with terms

Send the business an offer.

Change the offer

Send new terms on an open offer. The business accepts them again before you can fund.

Decline

Close the application, with an optional note.

Request more info

Your note goes straight to the business’s Messages, and the application waits for their reply.

Mark as funded

Available once the business has accepted your offer. Record the loan you paid out. It needs your organisation’s subscription to be active.

Decisions need approver access. Without it, the panel says Funding decisions require approver access.

Approve and send an offer

1. Press Approve with terms.
2. Enter every term: the approved amount, the interest rate, how interest is applied (Flat, on the full amount for the whole term; Reducing balance, only on what is still owed; or Interest only, the loan amount due at the end), the tenure in months, how it is repaid (monthly, quarterly, or in one repayment at the end), and any fees.
3. Read the acknowledgement and tick it. If the business’s certificate has expired or been revoked, tick the second box too.
4. Press Approve & send offer. The business is told their offer is ready, and sees your terms.

The application then says Waiting for the business to accept your offer. When they accept, you are told, and Mark as funded becomes available. A business can withdraw its application until it accepts your offer; after that it messages you, and you can cancel the offer with Decline.

Record the loan when you pay it out

1. Press Mark as funded.
2. Check the accepted offer at the top — the amount, rate and how interest is applied, the term and repayment, and fees. These are locked; Change the offer sends new terms for the business to accept.
3. Enter the date you paid it out and the date monitoring starts.
4. Check What this loan costs: each payment, the total interest, what the business repays and the total with fees. Show every payment lists the whole schedule.
5. Optionally, set covenants for monitoring. Most have a suggested value once you enter the amount.
6. If the business’s certificate has expired or been revoked, tick the box that says you know.
7. Press Fund & start monitoring.