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The flowchart for the loan application approval process at the Prime Community Bank is given below. This process consists of several different activities, each performed
The flowchart for the loan application approval process at the Prime Community Bank is given
below. This process consists of several different activities, each performed by a different bank
Solbridge International School of Business, BBA Section Spring
employee. Approved loan applications first arrive at Step where they are checked for
completeness and put in order. At Step the loans are categorized into different classes according
to the loan amount and whether they are being requested for personal or commercial reasons. While
credit checking commences at Step loan application data are entered in parallel into the
information system for recordkeeping purposes at Step Finally, all paperwork for setting up the
new loan is finished at Step The time taken in minutes is given in parentheses.
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