Gartner defines commercial loan origination solutions (CLOSs) as software applications that enable lending institutions to manage the end-to-end process of opening lending products, from application through underwriting and closing, for businesses of different sizes. They are typically offered as SaaS solutions (private cloud, public cloud or hybrid) or on-premises. CLOSs are software solutions specifically designed to facilitate the evaluation, approval, settlement and documentation of loans for businesses. They serve as a centralized platform for lenders to assess business creditworthiness, collect and analyze financial information, automate document processing, and streamline the commercial lending process.