Workflow Templates: Customer Credit Approval Checklist

Customer Information Verification

step"=>"Obtain complete customer application", "description"=>"Ensure that the customer has filled out the credit application in its entirety."}

step"=>"Verify customer identity", "description"=>"Check valid government-issued photo identification to confirm identity."}

step"=>"Confirm business information", "description"=>"For business accounts, verify the business name, address, and registration details."}

Credit History and Financial Analysis

step"=>"Review credit reports", "description"=>"Order and evaluate credit reports from major credit bureaus."}

step"=>"Analyze financial statements", "description"=>"Examine the customer's financial statements for liquidity, profitability, and creditworthiness."}

step"=>"Check references", "description"=>"Contact the provided trade and bank references to gather feedback on the customer's payment history and reliability."}

Credit Terms and Conditions

step"=>"Determine credit limit", "description"=>"Based on the credit analysis, set a maximum credit limit for the customer."}

step"=>"Set payment terms", "description"=>"Establish payment terms such as net 30 days, and communicate these to the customer."}

step"=>"Prepare credit agreement", "description"=>"Draft a credit agreement including all terms, conditions, and contingencies for the customer to sign."}

Approval and Documentation

step"=>"Management review", "description"=>"Submit the credit application and analysis to management for review and approval."}

step"=>"Document decision", "description"=>"Record the credit decision, terms, and any conditions or collateral required in the customer's file."}

step"=>"Notify customer", "description"=>"Inform the customer of the credit decision and provide them with the agreement and any further instructions."}

Template Library Home

Customer Credit Approval Checklist

Customer Information Verification

Credit History and Financial Analysis

Credit Terms and Conditions

Approval and Documentation

Use this template in Manifestly

Template Library Home

Customer Credit Approval Checklist

Customer Information Verification

Credit History and Financial Analysis

Credit Terms and Conditions

Approval and Documentation

Use this template in Manifestly

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