ApplyNow

ApplyNow, developed by CommonGoals Software, is a loan origination software designed to streamline the application process for grants, scholarships, loans, and other types of funding. According to the vendor, ApplyNow offers customizable features to cater to lending agencies and institutions of any size, including financial institutions, educational institutions, government agencies, foundations, and corporations.

Key Features

Customizable Loan Origination Software: ApplyNow aims to streamline the application process for grants, scholarships, loans, and other types of funding, providing what the vendor claims is an easy application process for clients. It can be customized to incorporate the brand and identity of the lending agency and manages multiple lending products and unlimited applications.

Comprehensive Pipeline Management & Reporting: ApplyNow allows for the management of multiple programs with unlimited applications, incorporating application fees and payments. It provides a pipeline management system for tracking application progress and generates reports to impress funders and stakeholders, according to the vendor.

Communication: ApplyNow aims to keep applicants informed with automated emails and real-time chatting, enabling collaboration and communication between applicants and the lending agency. It provides a chat room for real-time communication with applicants and allows for the customization of communication processes, according to the vendor.

Document Management: ApplyNow collects relevant documents related to the application process, aiming to expedite review and decision-making by collecting required documents. It automatically creates document checklists and requests additional documents as needed, streamlining the review process by having all documents in one place, according to the vendor.

Rapid Deployment: ApplyNow aims to enable organizations to deploy an unlimited number of programs with ease. It allows for the creation, configuration, and deployment of new program applications within hours, providing an intuitive designer with drag-and-drop functionality for easy application creation. The vendor also claims that the software is designed to be user-friendly.

Bank-level Security: ApplyNow ensures data security with SSL AES-256 encryption and is hosted in Microsoft Azure with multiple data centers. It complies with privacy legislation and provides bank-level security features such as Two-Factor Authentication (TFA) and Captcha, according to the vendor.

Required Documents: ApplyNow allows for the inclusion of important documents within the application and automatically requests critical documents from applicants as they progress through the pipeline. It creates document checklists to ensure all required documents are submitted and streamlines the pre-qualification process by collecting necessary documents, according to the vendor.

Manage Applications: ApplyNow supports unlimited applications for managing various funding types. It customizes application forms with a drag-and-drop form builder, enables eligibility screening, and real-time collaboration with applicants. It also provides customizable landing pages and application descriptions, according to the vendor.

Review: ApplyNow provides a dashboard for reviewing applications, tracking progress and completion of tasks and supplemental documentation. It enables real-time chat with applicants for requesting additional information or documents and allows for internal notes and assessments for final review and adjudication of applications, according to the vendor.

Decide: ApplyNow automates approval decisions based on custom scoring criteria and assigns committees or individuals for external/internal approval and review. It pulls credit reports and credit products for credit score assessment and aims to facilitate faster decision-making with subjective or quantifiable results, according to the vendor.