When does an application become a finance agreement i.e. when is it purchased
An application becomes a finance agreement i.e. it is purchased / draw down- the application has been approved by the credit team
- the listing / application has been funded i.e. by investors or by the finance company, whoever is funding it
- if required, the borrower has both finalised and accepted the offer
the application will then only become a finance agreement when the start date is reached.
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