(800) 234-1111

FINPACK News

FINPACK+: Loan approvals through Credit Decisions

by | Sep 22, 2021

Maintaining the loan decisioning documents and approval chain for credit packages is a must for any financial institution.  FINPACK +’s Credit Decisions tool gives you the ability to assemble the credit presentation package for decisioning, track the request through the loan approval chain, and provide a permanent record of all documents used in the decision. 

Assembling the presentation

FINPACK+’s Credit Decisions tool assists with assembling the loan details and credit presentation packet to be submitted for decisioning.  All loan requests and the related credit documents are easily accessible, ensuring credit managers and executive loan committee members have all the details they need to review and act on loan requests.  At the same time, Credit Decisions creates a permanent record of all documents used at the time of credit decisioning.

Loan approval process

FINPACK+’s Credit Decisions tool provides quick and direct access to all the documentation related to any loan approval. Notifications are automatically generated to keep lenders informed of loan approval progress, as well as prompting higher authority levels of loan approval action when needed. To view a loan presentation package, Senior Lending staff simply navigate to the Credit Decisions section in FINPACK+, removing the need to dig into the credit analysis or other sections of the program and making the process faster and more efficient. For all finalized or pending credit decisions, users are presented with details of the loan application, access to the relevant workflow, and a list of all supporting documents and analyses, all easily accessible from one location. Approving — as presented or with conditions — denying, changing the approver, or requiring additonal approval are all available in the same location.

A Pending Credit Decision in FINPACK+ Credit Decisions

Permament Record

The Credit Decisions tool in FINPACK+ not only documents the loan approval chain, but also records any comments, conditions, or covenants provided by approvers along the way.  Each time a user performs any action on any credit decision, FINPACK+ notes the user, the action, and the date and time, providing a permanent record of approvals, logging all information needed for audit and compliance needs. The workflow, approval process, supporting documents and analyses for all completed and archived credit decisions are available in the Credit Decisions section.

A Completed Credit Decision in FINPACK+ Credit Decisions

Use the Credit Decision tool in FINPACK+ to expedite the progress of loan requests through the approval chain, create a permanent record of the process, then easily grant auditors and examiners access to the customer loan data needed for their review. 

See the FINPACK Knowledge Base for more helpful guides related to FINPACK+ tools, and as always, please reach out at Support@FINPACK.com with questions or comments. We’re ready to help.

Latest News
FINPACK Fall 2021 Update – What’s New?

FINPACK Fall 2021 Update – What’s New?

The 2021 FINPACK Credit Analysis update has been released. Each year, we roll out enhancements and additions to the FINPACK Credit Analysis software with the fall release. With updates to Presentations, Detailed Balance Sheets, Cash Flow Projections and of course, the...

Register for the 2021 FINPACK Lenders Conference

Register for the 2021 FINPACK Lenders Conference

After much thought and discussion, the decision has been made to change the 2021 FINPACK Lenders Conference to a virtual-only event. Our goal is a safe event for all attendees. 2021 Conference Details Date: December 14-15, 2021 Location: Virtual Pre-registration is...

ABA Agricultural Bankers Conference 2021

ABA Agricultural Bankers Conference 2021

The FINPACK team at ABA Agricultural Bankers Conference The FINPACK team was pleased as always to participate in the 2021 ABA Agricultural Bankers Conference in Cincinnati. We were proud to host the Pre-Conference Seminar together with Farmer Mac, featuring...

2021 ABA National Agricultural Banker Conference

2021 ABA National Agricultural Banker Conference

Make plans to join the FINPACK Team in Cincinnati at the 2021 ABA National Agricultural Bankers Conference Nov. 14-17.  FINPACK, Farmer Mac, and Dr. Kohl kick off the conference on Sunday afternoon as hosts of the Pre-Conference Seminar titled, "Speeding...

FINPACK+: Task Lists for efficient loan processing

FINPACK+: Task Lists for efficient loan processing

Task Lists in FINPACK+ help manage the efficiency and timeliness of loan processing activities for your team. Task Lists provide a ‘to-do’ list for credit team members, to ensure all steps of the credit process from request through the life of the loan are completed...