Credit Application Process

Shareable flow document

VeltriqAIVeltriqAI

Credit Application Process

End-to-end flow overview · September 24, 2026

This document outlines the complete credit application lifecycle — from initial request through final decision — including all applicant touchpoints, status transitions, and automated email notifications.

1

Initiation

Two entry paths launch a credit application.

PathTriggerInitial Status
Public RequestProspect clicks "Apply for Credit" on the landing page. AR routes the request to a tenant, then sends an invite.requested
Direct InviteAR team proactively sends an invite from the Credit Applications page. A secure token and applicant email are generated.invited
2

Applicant Pre-Flight

When the applicant opens a fresh invite link, they see a checklist screen before entering the wizard.

Company information — legal name, DBA, EIN, business type, address, phone, website
Financials — annual revenue, estimated annual purchases, requested credit limit
Banking — bank name, routing number, account number (last 4 digits only stored)
Trade references — at least 1 required (up to 3), with contact details
Personal guarantor — name, DOB, SSN (last 4 only), address, ownership %
Documents — W-9 required; financial statements, references, licenses optional

Reassurance cues: ~10 minutes, auto-saves after each step, sensitive fields are masked.

3

Application Wizard (8 Steps)

Progress auto-saves after each step. Status transitions to in_progress.

StepSectionKey Fields
1Company InfoLegal name, DBA, EIN, business type, industry, address
2FinancialsAnnual revenue, annual purchases, requested credit limit
3BankingBank name, routing, account # (masked), bank contact
4Trade ReferencesUp to 3 — company, contact, phone, email
5GuarantorName, DOB, SSN (masked), address, ownership %
6DocumentsW-9 required + optional uploads via secure private storage
7Terms & E-SignAgreement checkbox, typed signature, date
8ReviewFull summary → Submit Application
4

Submission

Applicant submits. Status becomes submitted with a timestamp.

Two emails are sent automatically:

RecipientEmail Content
AR Team"Credit Application Submitted" — applicant name + link to review in the dashboard
Applicant"We Received Your Application" — confirmation + 2–3 business day timeline + status-check link
5

AR Review

AR opens the detail drawer to review all data and securely view uploaded documents. Four actions available:

AR ActionNew StatusApplicant Email Sent
Begin Reviewunder review"Your application is under review"
Request Changesreturned for info"Action needed" — includes reviewer notes + link to update
Approveapproved"Credit Approved" — includes the approved credit limit
Declinedeclined"Update on your application" — gentle, door left open to reapply
6

Returned-for-Info Loop

If AR returns the application for changes or additional documents:

1.Applicant reopens their link → wizard reopens with a "Changes Requested" banner showing reviewer notes
2.Applicant updates fields and/or uploads additional documents
3.Resubmits → status returns to submitted → AR reviews again
4.Loop repeats until approved or declined
7

Applicant Status Tracking

After submission, the applicant can revisit their link anytime to view a live status tracker.

Current status with a milestone timeline
Document checklist showing what has been received
Reviewer notes and feedback
No login required — secure token-based access
8

Expiry

Invite links expire after 30 days. If an applicant never starts, the status auto-flips to expired.

Status on expiry:expired

Status Lifecycle

requested → invited → in_progress → submitted → under_review → approved
                                              ↘ returned_for_info ↗ (resubmit → submitted)
                                              ↘ declined
                                   invited → expired (after 30 days, if never started)
requestedinvitedin progresssubmittedunder reviewreturned for infoapproveddeclinedexpired