On many companies, the sales team and the credit control team are different people.
Now the credit control restriction makes that when financial risk is exceeded, the sale order can not be approved so it keep in "quotation" state.
This way, nobody can know if that quotation is approved by the customer and should be revised by financial team, or it is just a quotation sent to the customer that the customer hasn't answer.

I think the best way to work this, is to allow the sale order confirmation by salesperson or sales team, but to keep it on a new "on hold" state (status name can be discussed, "financial hold" "credit hold" "waiting financial approval" etc.

Even better the members of the group that are allowed to confirm them should receive a notification about a new sale order that requires atention.

Benefits:
Salesperson and Sales team (even the customer) can be clear of the real status of that sale order.
Financial team members can be clear of which sale orders require attention.
Nobody "forgets" that this is a sale order on hold instead of just a quotation, so it can be followed up and the sale is not lost (better income for the company).

I'm not a developer, but I would be gladly help from the operative point of view, and would also sponsor this development if needed.