Which field on the Loan object allows a Loan to be approved via the Product Package when checked?

The correct choice allows the Loan to be approved via the Product Package when checked. The "Is Review Ready" field serves as an indicator that all necessary documentation and criteria have been met for the loan application to proceed forward in the approval process. When this field is checked, it signals that the loan is adequately prepared for review and eligible for approval, aligning with the workflow within the nCino platform.

The other fields do not directly facilitate the approval process in the same way; they serve different purposes within the loan management context. For instance, 'Approval Status' indicates the current state of the loan's approval, but does not initiate the approval process itself. 'Loan Type' categorizes the type of loan being processed, which is helpful for reporting and management but does not influence the approval directly. Similarly, 'Application Complete' pertains to whether all necessary fields for the application are filled out, yet does not explicitly trigger the approval mechanism associated with the Product Package. Thus, "Is Review Ready" is the essential field that actively contributes to moving the loan to the approval stage effectively.