Finance approval workflow for Tallyfy

Get major projects funded without approval chaos

Big capital projects stall when financing requests bounce between departments with no visibility. This workflow moves your project through every approval gate from initial project approval to CEO sign-off, keeping all stakeholders aligned on funding status and documentation.

10 steps

6 fields

Import into Tallyfy Preview steps

Accounting Approval

Run this workflow in Tallyfy

Import this template into Tallyfy and assign the project approval step to your finance committee

Configure deadline rules for each approval tier and set up the financing source dropdown with options like equity capital, term loans, and retained earnings

Track every financing request in real-time through Tallyfy's dashboard to see which projects are pending approval and which have cleared all gates

Import this template into Tallyfy

Process steps

Project approval

5 days from previous step

approval

Project name: {{project-name-7735973}} Projected start date: {{project-start-date-7735975}} Project owner: {{project-leader-7735972}} Project description: {{project-description-7735976}}

Source of long term financing

5 days from previous step

task

Form fields in this step

Source of long term finance?

Finance manager approval

5 days from previous step

task

Project name: {{project-name-217367}} Projected start date: {{project-start-date-217368}} Project owner: {{project-leader-217369}} Project description: {{project-description-217376}} Source of long term finance: {{source-of-long-term-finance-217377}}

CEO approval

5 days from previous step

task

Liaise with long term financier

5 days from previous step

task

Define financing needs

1 day from previous step

task

Clearly articulate how much you need and what it is for. Capital expenditure, growth investment, acquisition, working capital? Be specific about amounts, timing, and intended use. Lenders and investors want to understand exactly where their money goes.

Prepare financial documentation

1 day from previous step

task

Gather everything lenders will ask for - financial statements, tax returns, projections, debt schedule, collateral documentation. Have at least three years of history if available. Professional, organized financials signal a well-run business. Messy books raise red flags.

Evaluate financing options

1 day from previous step

task

Compare different sources - bank loans, SBA loans, bonds, private lending, equity. Consider interest rates, terms, covenants, and dilution implications. Match the financing type to your needs and risk tolerance. Cheaper is not always better if terms are restrictive.

Submit applications

1 day from previous step

task

Apply to your selected lenders with complete documentation. Respond to additional requests promptly. Be prepared for due diligence - they will verify everything. Stay in communication throughout the process. Multiple applications in parallel can speed things up.

Negotiate and close

1 day from previous step

task

Review term sheets carefully before accepting. Negotiate interest rates, fees, covenants, and prepayment terms. Have your lawyer review all documents. Understand exactly what you are agreeing to. Once closed, set up systems to track compliance with loan covenants.