Know Your Client KYC Application Form Templates

What is a credit application form for business?

For many in commercial lending, their day-to-day operations will require clients to submit application forms, including personal financial statements, 4506C and 1919 in order to move forward with a project. The main issue is that, depending on the number of owners in the business, and if the owners have spouses, these forms will need to be completed by many different parties, making the entire process very slow for everyone.

If your business is a lending firm, bank, broker or loan originator, you will be well aware of the time-consuming nature of dealing with credit application forms. They contain many fields, which, if completed incorrectly, cause businesses to follow up with signers to get correct information. Data errors, missing information, lengthy waits to distribute physical paperwork and multiple copies of personal information can create a clunky exercise for all parties involved.

What are the benefits of using a DocuSign template for credit application forms?

As is the case with many business practices, implementing a credit application form template can vastly improve the workflow, saving your organization time and money. These are some of the benefits of incorporating an DocuSign eSignature template to your businesses KYC application process:

  • Easy distribution means forms can be sent via email, or clients can access them from your organization’s website. If you’re sending to multiple signers you can efficiently bulk send without having to worry about mailing physical copies.
  • Moreover, some of the information asked in certain forms is the same: no point asking twice or more (and that really annoys clients). Smart application forms will automatically copy information entered once throughout the rest of the set of documents. For example, if the address of the business is asked on 10 different forms, the information only needs to be entered once and it will copy throughout the rest of the document automatically.
  • Solusign’s application form templates have been designed to cut down on errors. We have set up rules which will trigger automated error messages when clients are entering information. These intuitive rules means clients will be alerted if they enter incorrect sums, will hide fields which aren’t relevant to them and also provide meaningful prompts on how to navigate the document.
  • All the data captured in forms can be easily integrated into any third-party application or exported to a CSV file. This means no more copy-and-paste, along with no more errors in your loan origination systems.
  • You’ll be able to incorporate this workflow with multiple signers. Solusign’s eSignature template functions efficiently, whether just one or multiple signers need to act on the document. The first applicant can provide subsequent signers’ information who will receive the document when it is their turn. Whether the business seeking financing has 1 or 10 shareholders, with or without spouses, the smart credit application forms work with any scenario.

Why choose Solusign for your credit application form template?

Here at Solusign we have developed intuitive credit application forms that will ensure your business implements a smooth new workflow that benefits both your organization and your clients. In just a few easy steps you’ll be able to incorporate a Docusign eSignature solution:

  • To begin, we will work with you to understand your objectives to help determine workflow requirements. From this analysis we will be able to ascertain things like how you’d prefer to distribute the forms, how you’d like to process the collected data and what the next steps look like.
  • We then develop the application templates to determine finite requirements and efficiency. By going through field by field, page by page, we can determine what actions you’d like your clients to make on the document.
  • Following the testing phase and once you are happy with the finished product, we help you to integrate the DocuSign application forms on your website, CRM or any other third-party application you require.
  • At Solusign we are committed to providing you support after integration has been successfully achieved. We will be on hand, should you require any assistance.

Get in touch

If you’re interested in learning more about how Solusign can help you develop a DocuSign credit application form template, get in touch to organise a 30-minute strategy call. One of our experts will be more than happy to help you with your inquiry.