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A single proposal is a request for funding basically, the proposal system is something on hive where individuals or projects can ask for funding, and if enough stakeholders support it, they get funded by the chain directly, money comes directly from hive's inflation.

You can see more at https://hivedao.com.

Cheers, nice!
Is there a subproject that manages applications?

everyone manages applications :) anyone can vote on proposals if they think it should get funding.

Thanks, my point is whats the process to submit an application. I'm aware of the hive blog/social network and it's the first time I've heard of this aspect of hive.