Our company is a small 3-4 employee lending/microloan business. The process is the following:

We lend upto 50,000. We have a booth at heavy areas where people fill out their basic details and our office contacts them and says if they provide the requirements, we can have them apply. Then the person comes in and fills out the application and gives us the requirements. Our due diligence team follows up and verifies the requirements. 

If the requirements are good and dandy, they get forwarded to the owner of the company and he approves the loan application depending on how the requirements fared. So, if an applicant asks for 50,000.. he can say give him 40,000 and charge 8% interest. (I want this system automated in the future depending on WHICH requirement is missing integrity, etc)

Then, it goes back to the loan officer who contacts the client and says you've been approved for this amount, and this interest rate. If the client is ok with it, client comes in and signs the contract and gives us post-dated checks. 

1. We get a "lead" who wants to see if they can borrow from us. (They become a "lead")
2. We tell them about the requirements; they either know if they can provide us the requirements or not. If they can, we move to step 3.
3. We get them to fill out the application form and receive the application form (convert the lead to "applicant" status) and receive the requirements.
4. Once we receive the requirements (the applicant moves into the "verification/qualification" status)
5. If the applicant qualifies and checks out with the verification process, the loan officer takes the paperwork to our boss (now the applicant changes to "pre-approved" status), and our boss approves the loan amount and interest rate or makes changes. For example, if the applicant asks for $2000 it's up to our boss to decide how much he wants to give .. so he can say "Fine, give him $1500 and charge him 1.2% interest". 
6. Two things happen here. We present what we're able to offer for the loan and at what interest. If the applicant decides he doesn't want that amount or doesn't like the interest, he says astalavista. If the applicant is fine with it, we present him with the paperwork that the applicant has to sign. (At this point, he turns to "approved status")
7. Once the paperwork is done, we give the applicant a check in 1-2 business days (when that happens, the applicants turns into a "client")

We're looking to achieve the following:

1. Get all the leads in to the system
2. Be able to attach all the PDFs or requirements per lead into the "lead file". 
3. Set up a pipeline system so our boss can see a "pipeline" type of a dashboard graph on how the leads are coming in, etc. 
4. When the applicant turns into pre-approved status, it would be good that the boss can see it (and also get an email alert) so the boss can see these requirement forms as PDFs and add the loan amount he's prepared to offer and interest and turn it into "approved" or "declined".
5. If it turns to approved, the applicants loan officer who prepared the applicant and pre-approved him should get an email alert so the loan officer can make a package of paperwork and leave it on the boss' desk so the boss can process the daily batch with the loan bank who is our partner.

As an aside, the following features will make the process a little easy:

1. Notes feature so anyone in the office can handle a client or applicant and "view history" in case the handling loan officer isn't available. 
2. Dashboard for the boss, and admins to see what stages the lead is in, and if there are any bottlenecks, etc. 
3. Issue handling (why we're stalling on a client and what we need to do to move forward)
4. Client alerts (if they have something special going on)
5. Employee matching. For example, we get more than one applicant from a company because we send out flyers in company headquarters. So, we would have John Smith and Jane Smith coming in from ACME Inc. So we'd add "Employers" as a separate detail where ACME Inc is entered. So let's say Jake Smith is being entered by someone as a lead, it would be good to have a little drop down that the system automatically creates in the "employers" field as a AJAX dropdown based on character matching. That way we don't create duplicate "Employers" or have spelling mistakes.