Wealthy Credit Limited Usually, we allocate home funds within 24 hours after the application is received, however, depending on the conditions, currency, and country, the financing period can be up to 14 days. Please check the steps we need to be executed in the funding process.

1. Pre-qualification – The first step in the loan / funding origination process is pre-qualification. During this stage, the potential borrower will receive a list of items they need to pull together to submit to Wealthy Credit Limited. This may include:

• Current business information
• Total household income
• Payment history
• Bank statements
• Tax returns

Once this information is submitted to Wealthy Credit Limited, it is typically processed and a loan / funding pre-approval is made, allowing the borrower to continue in the process to obtain a loan / financing.

2. Loan / Funding Application – In this stage of the loan origination process, the borrower completes the loan / funding application. You can download specific financial product application forms (see “Documents” menu above) or apply for a loan online.

3. Application Processing – When the application is received by the credit department, the first step is to review it for accuracy and completeness. All required fields must be filled in, otherwise the application will be returned to the borrower or the credit analyst will have to reach out to the borrower to procure the required missing information. Depending on the technology employed by the lender, a sophisticated Loan Origination System (LOS) can automatically flag files with missing required fields and return it to the borrowers to re-work. Depending on the organization, exception processing might be part of this process, or manual loan processors can review each application for completeness.

4. Credit / Funding Decision – Depending on the underwriting process, the file can be approved, denied or sent back to the originator for additional information. A denial may be revisited if certain parameters are changed, such as a reduced loan amount or different interest rates to lower payments.

5. Loan Funding – Most business loans fund shortly after the loan documents are signed. Second loans and lines of credit may require additional time for legal and compliance reasons. LOS programs can track funding and ensure that all necessary documents are executed before or together with funding.