Setting up a New Loan

Setting up a New Loan

In order to set up a new loan, click on the Loans Search button found on the top main menu bar.

You will be directed to a new window. Click on the green + New Loan button which will direct you to a new window in order to create your new loan.

You can begin creating and setting up a new loan by filling in the below fields; Finance Terms, Finance Setup, Interest, additional information and Advanced Features.

• Finance Terms

Using the drop down box, select the Portfolio & Product and enter in the financial amounts pertaining to the new loan.

• Finance Setup and Interest

Enter in the Loan Establishment Date. Repayment Frequency, the number of expected repayments and the date for the next repayment. Enter in the Annual Interest Percentage Rate and if there is an Interest Free Period.

• Additional Information

Here is where you can enter in the Product/Service Reference, invoice totals and if needed, Serial Number for the new Loan.

• Advanced Features

Using the drop down menu you can select the loan Status, Interest Allocations, Apply Loan Fees and you can select the Repayment Management option. You can select if you wish to set up Repayment Reminder methods (Email, SMS, Both or off) and the timeframe for these reminders. Please note: Changes to amortisation settings will take effect from the next day only.

• Adding an additional Fee

To add in an additional fee to the loan, click on the green + Fee button and enter in the Fees details; Name, Amount, Frequency and code. To delete a fee, click on the red X found next to the fees line item.

• Borrower Details

You can select to add a person or a business as the Borrower Details by clicking on the green + Person or + Business buttons.

• Commence Loan

Once you have entered in the new Loan details and the Borrower information, you can process your new Loan by selecting the blue Commence Loan button at the bottom. You can also cancel the entire new loan, by clicking on the grey Cancel button.