New Loan
New Loan issues a loan to a customer. It sets the capital, the interest rate, how many dues there are and when they fall — and it is where guarantors and documents are attached before any money moves.
Where to find it
Go to Customer Loan > New > Loan.
Loan Data
| Field | Required | Description |
|---|---|---|
| Customer | Yes | The borrower. The form will not proceed without one. |
| Loan Created Date | Yes | When the loan starts. |
| Initial Capital | Yes | The amount lent. It cannot be empty. |
| Annual Interest Rate | Yes | From Interest Rates. A rate must be selected. |
| Interest Type | Yes | How interest is calculated over the term. |
| Due Type | Yes | The repayment frequency, from Due Types. |
| Dues (In Months) | Yes | How many instalments. Required to continue. |
| Payment Terms | Yes | From Payment Terms. |
| Expected Close Date | — | Calculated from the dues and frequency. |
| Processing Fee | No | Deducted from the disbursement, posting to its own account. |
| Memo | No | Notes on the loan. |
Guarantors
| Field | Description |
|---|---|
| Name | Required. |
| Relationship | How they know the borrower. |
| ID Type / ID Number | Their identification. |
| Phone / Email / Address | How to reach them. |
| Guarantee Amount | What they stand behind. |
Documents
Attach the paperwork the loan requires. Mandatory types are listed in Document Types, and missing ones are reported before the loan can proceed.
Collect the documents while the customer wants the money. Every day after disbursement makes them harder to get, and a loan file that is incomplete at default is a loan you may not be able to enforce.
What happens next
The loan appears in Loans with its due schedule. Money goes out through Disbursement, net of any processing fee.
Related pages
- Loans — the register
- Disbursement — paying it out
- Interest Rates · Due Types — the setup this needs