Horizon2 has the ability to capture different application types. This module will explain the differences between entering in Consumer and Commercial applications.
By the end of this module you will be able to:
Differentiate the differences between Consumer and Commercial Applications
Topic Summary
7.1 Personal Applicant
7.2 Sole Trader/Partnership Applicant
7.3 Company Applicant
7.4 Trust Applicant
7.5 Adding a second Applicant
7.1 Personal Applicant
When creating a New Lead in Horizon2 the application will default to a Personal/Consumer Loan Purpose.
You will be promoted to fill out the clients initial Objectives & Requirements before you are able to convert the lead to application.
For this kind of application all NCCP compliance will need to be completed. On Applicants tab Privacy Consent and Credit Quote need to be sent and returned.
On Financials tab General Living Expense is a mandatory requirement and will automatically display under Expenses for editing.
Preliminary Assessment is a mandatory requirement for all Personal/Consumer loans. After signing the preliminary assessment, a Credit Proposal can be generated or emailed to your customer. Navigate to the documents tab of the application and select the 
button. Select ‘Credit Proposal’ as the document type, and the Applicant and Estimated Commission Range.
You can choose to generate the document in Word form or email directly to your customer.
7.2 Sole Trader/Partnership Applicant
For a Sole Trader/Partnership Application the Loan Purpose on Summary tab needs to be changed to Business/Commercial. When you change Loan Purpose the below warning message will display.
Click 
. Preliminary Assessment tab has disappeared from the tab row and the General Living Expenses will not be a mandatory requirement and will disappear from Financial tab.
Business/Commercial applications will default to Sole Trader/Partnership.
The Privacy Consent is the only document you are required to send and receive a returned signed copy.
Employment Details box defaults to Self Employment. Click on 
. A pop up box will open and be very similar to the Personal/Consumer screen but will have a few different fields:
Business Structure (Sole Trader or Partnership)
Main Business Activity
Business Income Recent
Business Income Previous
Accountant Details
7.3 Company Applicant
To change an application to be a Company Applicant click on the drop down box that says Sole Trader/Partnership on Applicant tab and select Company Applicant then click 
. A new applicant tab will open so you can start the application.
This page is broken down in the following sections:
Company Details
Contact Details
Reference
Company Director/Authorised Signatory
Recent Company Income
Previous Company Income
Company Accountant
Company Details
First select Applicant Type by selecting if the Company is the Borrower or Guarantor by marking the correct box.
Then enter:
Company Name*
Trading Name
Trading More Than Two Years or Holding Company if applicable
Registered In Country* (defaults to Australia)
Registered in State*
ABN* and ACN
Registered for GST*
ANZSIC Code
Main Business Activity
Start Date*
Contact Details
In this section the below details are required:
Principal Trading Address*
Mailing Address*
Registered Address*
Contact number, email and fax
Contact Person
To add a Contact Person click on 
. A pop up screen will display.
Click on 
. Then you need to add in:
Name*
Role
Contact Details
Preferred Contact Method Address
Once these details are entered click 
The next section is Reference. This section functions the same way as it does in a Consumer application. Click on 
. A pop up will open. Select whether the reference is Person or Company. Click 
then capture the reference details and 
. If this person is a Guarantor tick Is Guarantor? box. Guarantor details will then open in another screen. Company Director/Authorised Signatory From a drop down list select either Director or Authorised Signatory. Then click 
. If it is not a person you have already entered click 
and fill in the contact details. If it is someone you have entered you can select that person from a drop down box. Once you check all details click 
Recent Company Income
In this section you capture the Company’s Income. You can enter:
Financial Year
Start and End Date
Net Profit Before Tax
Add Back – Depreciation
Add Back – Interest
Add Back – Lease
Add Back – Non Cash Benefits
Add Back – Non Recurring Expense
Add Back – Payment to Director
Add Back – Car Expense
Sales Income
Income Tax
Tax Office Assessments
Proof Signed
Previous Company Income
This section asks for the same details as above, however is for a previous year.
Company Accountant
To add in the Company Accountant details click on 
, then click on 
. You will then need to enter in:
Company Details
Contact Info
Contact Person
The other tabs will work the same as the Consumer application expect there will be no preliminary assessment tab.
7.4 Trust Applicant
To change an application to a Trust Applicant click on drop down box that says Sole Trader/Partnership on Applicant tab and select Trust Applicant then click 
. A new applicant tab will open so you can start the application. This tab is broken down into the following sections:
Trust Details
Trustee
Contact Details
Recent Trust Income
Previous Trust Income
Trust Accountant
Trust Details
In this section you will need to select Applicant Type from either Borrower or Guarantor. You will then need to enter:
Trust Name*
Trading Name
ABN*
ANZSIC Code
Main Business Activity
Trustee
To add in a Trustee click on 
. You will then be asked to select Person or Company then click 
or 
If you selected Person you are required to enter:
Name*
Contact Details
Address
If Company was selected you are require to enter:
Company Name*
Address
Contact Details
Contact Person
Then click 
Contact Details
In this section you need to add:
Principal Trading
Address*
Mailing Address*
Registered Address*
Contant Details
Preferred Contact
Contact Person
Recent Trust Income
In this section you capture the Trust’s Income. You can enter:
Financial Year
Start and End Date
Net Profit Before Tax
Add Back – Depreciation
Add Back – Interest
Add Back – Lease
Add Back – Non Cash Benefits
Add Back – Non Recurring Expense
Add Back – Payment to Director
Add Back – Car Expense
Sales Income
Income Tax
Tax Office Assessments
Proof Signed
Previous Trust Income
This section asks for the same details as above however is for a previous year but does not ask for Proof Signed.
Last step is to add in Trust Accountant. To do this click on 
and then 
. Then enter:
Company Details
Contact Info
Contact Person
Then click 
When entering in Guarantors for this loan use Sole Trader/Partnership tab to capture their details. The other tabs will work the same as the Consumer application except there will be no preliminary assessment tab.
7.5 Adding a second Applicant
To add a second applicant to a lead go to Applicants tab. Under tab headings you will see a box called 
. Click on this box and a second applicant screen will display.
Enter in all details for this applicant just like you have for applicant one. You are required to send the Privacy Consent and Credit Quote to each applicant. Sign on glass does not have the ability for both applicants to sign the same Privacy Consent and Credit Quote.
When entering in details for Applicant Two you will notice that some field have a tick box called Same as Applicant One. When you tick this box the details from Applicant One will copy over to Applicant Two.
On Financials tab you will need to select the owner for Assets, Liabilities, Income and Expenses. To do this tick the box next to the applicants name that this financial is for. If the Asset, Liability, Income or Expense belongs to both applicants tick both boxes
You are only required to complete 1 Preliminary Assessment. Applicant One and Applicant Two will both be listed under Client Details.
Compliance Documents will need to be attached separately so you can select the applicant name when attaching their documents