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the prospective client/borrower/applicant is through the Account Officer during the Loan Application interview.
recommendation of the Account Officer for decisions on approval or rejection of a loan application
in his/her job if s/he clearly understands his/her role in the Microfinance Loan Process, specially in relation to Client Selection and Loan Portfolio Management (monitoring and collection)
By the end of this lesson, the Account Officer will be able to:
1. Determine if s/he has the qualities that will make her/him an effective Account Officer;
By the end of this lesson, the Account Officer will be able to:
2.
Understand the specific skills required in each of the steps in the Microfinance Loan process
By the end of this lesson, the Account Officer will be able to:
3.
Conduct Client Selection with the effective use of CIBI tools to be able to make the recommendation to the bank with respect to the microfinance loan application.
Several steps are undertaken before a microfinance loan is approved. In this entire process, it is the proper conduct of Client Selection that spells success or disaster for the MFI.
3) Loan Approval
5) Loan Release
4) Loan Processing
Prospective applicants are brief on the MFIs policies and procedures for its microfinance loan product
Account
Officer interviews the applicant and gathers basic information for the loan application form; the AO fills up the form for the applicant.
Account Officer does initial assessment to see if applicant meets the MFIs client eligibility criteria
Account Officer does the Character Analysis to establish if the applicant deserves a loan
Account Officer does the Repayment Capacity Analysis to determine how much loan the bank can give the applicant without compromising ability to pay
Account Officer only does the Repayment Capacity Analysis if the applicant passes the Character Analysis
3) Loan Approval
The Account Officer finalizes the CIBI Report and makes his/her recommendation on the loan application
3) Loan Approval
The Account Officer submits the CIBI Report to the MFU Supervisor for review
The
3) Loan Approval
MFU Supervisor reviews the report and endorses the same to the branch Credit Committee for final review and approval.
4) Loan Processing
Upon approval by the CreCom, the loan documents are returned to the MFU for preparation of loan documentation prior to loan release
Once
5) Loan Release
loan documentation has been completed, the MF Supervisor advises the Cash Department of the loan approval and requests for schedule of loan release
The
5) Loan Release
Account Officer advises the applicant of his/her schedule for loan release; advises the applicant to bring spouse and co-makers to sign loan documents during the loan release
The Account Officer is responsible for the loan s/he recommended for approval
The
Account Officer monitors the borrowers business to ensure that loan repayment will not be a problem (changes in business condition should evaluated)
Depending on the MFIs policy, Account Officers may do collection of loan amortizations when they fall due.
Of the six steps in the process, the most crucial are Steps 1 (Client Orientation & Application), 2 (Client Selection) and 6 (Loan Monitoring/Collection - also known as Loan Portfolio Management)
The Account Officer is the person responsible for the effective implementation of Steps 2 and 6
A specific type of
acquire the needed technical skills by undergoing the Account Officers Course