Before you start
Make sure the following conditions are met before opening a new application.- The member is ACTIVE. You cannot draft a loan for a suspended, inactive, or deceased member. Reactivate the member first.
- The member’s KYC status allows it. You can draft an application for any member except one whose KYC is UNVERIFIED or FAILED, so a member who is still in progress or in manual review can be drafted. To submit, though, the member’s KYC must be exactly VERIFIED. A drafted application for an in-progress or manual-review member is blocked at submission until verification completes.
- You have the Credit Officer role. You need permission to create and submit loan applications. Contact your Administrator if you are unsure about your role.
Steps to create and submit an application
Go to Loans, then New application
From the main navigation, select Loans, then click New application in the top-right corner of the loans list.
Search for and select the member
Type the member’s name or member account number into the member search field. Select the correct member from the results. The member’s basic details pre-fill the Applicant Information section. Encrypted identifiers like the TRN are not part of this loan member search.
Select the loan type
Choose the loan type. The dropdown lists the loan types your credit union has defined, and the visible names are configurable by your credit union. Each one maps to one of four fixed archetypes that drive the behaviour: Unsecured, Cash secured, Motor vehicle (AUTO), or Real estate (MORTGAGE). The loan type determines which form sections appear. See Loan Types for a full breakdown.
The loan type is locked once the application is submitted. If you select the wrong type, you must abandon the draft and start a new application.
Select the loan product
Choose the loan product that applies to this application. Products are configured by your credit union and determine the eligible amount range, term limits, and applicable rate tables.
Fill in Applicant Information
Confirm or complete the applicant’s personal details: name, date of birth, contact information, and address. The member record is the source of truth, so you confirm rather than re-enter, and encrypted identifiers such as TRN, driver’s licence, and passport are never re-typed in plaintext here.
Fill in Employment
Enter the applicant’s employment details: employment type (employed, self-employed, or pensioner), employment status (permanent, contract, or temporary), employer name, position held, length of employment, and gross monthly income. Employment type and employment status are scored as separate risk factors, so capture both. The platform uses this information to calculate risk and residual income.
Fill in Statement of Affairs
Capture the applicant’s income and outflows. At least one income source is required; submission is rejected without one. Each income line carries an applicability percentage, so income that counts only partially toward affordability (a bonus counted at 50%, for example) is weighted accordingly. List the outflows too: monthly debt payments, living expenses, and other outgoings. The platform uses these figures to calculate the Total Debt Service Ratio (TDSR) and residual income.
Fill in Loan Purpose
Enter the loan amount requested and the requested term in months. The term must be between 1 and 360 months. Describe the purpose in free text and tag it with a purpose category, which the adjudication queue uses for filtering. Pick the preferred repayment method (standing order, payroll deduction, or direct debit); standing order is the default.
Fill in the collateral section (if applicable)
Depending on the loan type you selected, an additional section appears.
- Cash-Secured: Enter one to five qualifying accounts to pledge as security. Each account has a type (Shares, Time Deposit, or Savings Hypothecation), its account number, and the amount held.
- Auto: Enter the vehicle’s make, model, year, VIN, engine number, and estimated valuation, plus optional mileage. Insurance is confirmed during the Securities review, not captured here.
- Mortgage: Enter the property type, address, estimated valuation, valuation date, security type (First Mortgage, Second Mortgage, Strata Title, or Other), and any registered mortgagees. Title and insurance are Securities-review concerns, not application fields.
Add guarantors (optional)
If the application requires or benefits from a guarantor, click Add Guarantor and fill in the guarantor’s personal, employment, and income details, along with their relationship to the applicant, which is required. You can add more than one guarantor.
Review the auto-calculated figures
Before submitting, review the figures the platform calculates automatically on the application page.
- Risk Band (R1 to R5): the band mapped from the sum of seven categorical factors (employment type, employment status, length of employment, TDSR, LTV, loan type, and credit history).
- TDSR: share of gross income going to all debt repayments.
- LTV: loan amount as a proportion of collateral value (secured loans only).
- Monthly payment: estimated repayment amount.
- Residual income: take-home income remaining after all obligations.
- Total monthly payment: the loan repayment plus compulsory savings plus the creditor life premium.
Your loan is assigned a unique Loan ID (for example, MDVL-UNS-00001) when the draft is created, which is the moment you pick the member, loan type, and product. This ID appears in the application header and in all subsequent notifications.
Saving a draft
You do not need to complete all sections in a single session. Each section has its own save action, with labels like Save loan parameters, Save statement of affairs, Save net worth, Save cash details, and Save vehicle details. Save the section you are working on to preserve its contents. The application stays in DRAFT status, and you can return to it from the Loans list at any time. Saving is explicit: your progress is preserved when you save a section, so save before navigating away.Abandoning a draft
If you started an application but decide not to proceed, use the Abandon Draft option from the application’s action menu. The UI confirms with an “Abandon this draft?” dialog before flipping the status. Abandoning runs through the workflow engine and is gated by theloans.edit capability. The status changes to DRAFT_ABANDONED, the record is preserved in the audit trail, and the application is removed from your active drafts.
An abandoned draft cannot be reopened or resubmitted. If you need to proceed with the same member, create a new application.
Auto-calculated fields
The platform calculates these figures and shows them as you capture the application.| Field | How it’s calculated |
|---|---|
| Risk Band (R1 to R5) | The band mapped from the sum of seven categorical factors: employment type, employment status, length of employment, TDSR, LTV, loan type, and credit history. R1 is the lowest risk; R5 is the highest. |
| TDSR | Total monthly debt payments divided by total applicable income. Includes the proposed new loan repayment. |
| LTV | Requested loan amount divided by collateral value. Applies to Cash-Secured, Auto, and Mortgage loans only. |
| Monthly payment | Calculated using the applicable rate from the loan product’s rate table and the requested term. |
| Residual income | Gross monthly income minus all monthly obligations (existing debts plus new loan payment plus living expenses). |
| Mandatory shares | The required member-equity share purchase: the greater of JMD $2,000 or 15% of the loan amount. |
| Compulsory savings | A savings contribution added to the monthly payment: the greater of JMD $2,000 or 5% of the monthly loan amortization payment. |
| Creditor life premium | An insurance premium drawn from a per-thousand-per-year table keyed by the applicant’s age. |
| Total monthly payment | The loan repayment plus compulsory savings plus the creditor life premium. |