🔎Loan Details
The loan details encompass information regarding the loan amount, terms, repayment schedule, statements, guarantors, and collateral.
Adding Guarantors
Select the "Guarantors" option and then click the "Add" button to add a guarantor. Choose whether the guarantor is an existing client or not. If they are, select their client account.
Add Attachments: Select this to include any attachments associated with the guarantor.
View Attachments: Select this to view the attachments added.
Adding Collateral
Select the "Collateral" option and then click the "Add" button to add collateral.
Add Attachments: Select this to include any attachments associated with the collateral.
View Attachments: Select this to view the attachments added.
Loan Schedule
The loan schedule outlines the timeline and amounts of all payments required for repayment.
Status :
Cleared - On time: The payment was successfully made on the due date.
Cleared - Late: The payment was made after the due date but has still been successfully cleared.
Pending Payment - Prepaid: The payment has been prepaid before its due date.
Pending Payment - Late: The payment has not been made by the due date.
Not Started - On time: The payment has not yet been made, but the due date has not passed.
Not Started - Late: The payment has not yet been made, and the due date has already passed.
Loan Statement
The loan statement shows all payments made, including the loan principal, interest, and savings.
Printing a Loan Repayment Receipt
Go to the loan statement, click 'Open' in the receipt column, and then select the print option.
Audit Trail
The audit trail provides a record of actions taken on the loan, including who created it, approvals or declines, rescheduling, top-ups, and more. This allows you to easily track the application's history and stay informed about its progress.
Comments
When leaving a loan comment, provide specific details about any changes made, reasons for decisions, or additional information relevant to the loan. This helps ensure transparency and clarity for all users involved in the loan process, facilitating smoother communication and decision-making.
Early Loan Payment
If your institution permits clients to pay off loans early, you can make that payment by selecting 'Pay Off Loan' in the loan details. This empowers clients to make payments according to the terms set in the loan settings.
Changing Loan Officer
To change the loan officer assigned to a loan, click on the edit icon indicated by the arrow. Then, search for the new loan officer you'd like to assign, replacing the previous one.
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