Process Flow of Loan Application

UMTEMPCO - UM Tagum College Employee Cooperative

RESPONSIBILITY PROCESS WORK INSTRUCTION

START

1. Borrower 1.1 Fill-out the loan

SUBMISSION loan application form.
1.2 Have the loan application
form signed by co-makers.
1.3 Attach the necessary
requirements.

2. Loan Clerk VERIFICATION 2.1 Review the loan

application form if filled
out correctly and completely.
2.2 Check if the submitted
requirements are complete.

NO
OKAY? Return the documents to the
borrower for correction or
completion.
YES

3. Loan Clerk PROCESSING 3.1 Prepare action sheet.

3.2 Deduct service charge, capital
build up, previous loan balance
to determine net proceeds.

4. General Manager/ APPROVAL 4.1 Review documents and

Credit Committee approve the loan application.
 RESPONSIBILITY PROCESS WORK INSTRUCTION

NO
APPRO Cancel application
VED?

YES

5. Loan clerk
CHECK PREPARATION 5.1 prepare voucher and check

6. Chairman of the 6.1 Review documents and approve

Board APPROVAL loan application and voucher
and sign check

NO
APPRO
VED? Cancel check and loan
application

YES

7. Treasurer CHECK PROCESSING 7.1 Review documents and sign check

8. Loan clerk CHECK RELEASING 8.1 Release check to the borrower

END

Action Sheet
Loan Application form
Associated
documents
 Associated Voucher
documents

Recommendation:
Approval and Preparation of checks order should be considered.

Submitted by:

Joe Mari N. Flores, CPA

Jon D. Inocentes, CPA