1. Efficiency. By centralizing all loan application information in one place, you can reduce manual errors, improve communication among team members, and expedite the approval process.

2. Transparency. With real-time updates on application status, stakeholders can easily track progress, identify bottlenecks, and make data-driven decisions to optimize the workflow.

3. Compliance. Ensure regulatory compliance by storing all necessary documentation securely within the template, making audits and reporting easier and more accurate.