Loans

Get Started

Create

Creating and processing Loans is an activity that can be initiated from MONEY MARKET->Term Loans->Loans as shown in Fig 2.

Fig 2 Showing Loan create button.

Hitting the Create button to begin creating a new Term Loan transaction as shown in Fig 2 above, this takes you to the Loan create page shown in Fig 2a below. The areas highlighted red are required fields and must be filled before the document can succesfully create.

Fig 2a Loan Create Page.

Fig 2b below shows adding a document to the transaction in the documentation tab, eg documentation around repayments schedules, negotiation of refinancing, change in interest rate (where it deemed variable at the outset), etc.

Fig 2b Doccument Add Tab.

Edit

An Investment can only be edited when its in the PENDING status. Immediately a new investment is created it enters this PENDING status.

Fig 2c Pending status, showing the edit button.

Set to “running”

To get an Instrument running, hit the SEND button to change the status to InitPending as shown in Fig 2d. Hitting the INITIALIZE button sets the Instrument as (Running).

Fig 2d InitPending status.

Once the loan is running , one then goes through the work flow of seting up the Repayment Plan. From Fig 2e & 2f below , one navigates to the repayment plan tab then hits the NEW button. This takes you to the repayment plan create page shown in Fig 2g below. Once the detailes are filled and saved , the repayment plan shows up in its appropriaate tab as seen in Fig 2f (This can also be seen from the Repayment Plans sub-module). The plan is then approved (click the APPROVE button) , the run button is clicked (labeled 2 in Fig 2e) this runs the repayment plan to the current date. Fig 2e (Label 3) shows the accrued interests on the loan in moneytary terms, from the inception of the loan up to the current loan date. The system accrues interest daily for the lifetime of the instrument. If for any reason the interest has not been accrued to date, you can just hit the RUN button to have brought up to date as shown in Fig 2i.
Labeled 4 is the provisions tab , clicking on it takes one to the provisions edit parameters pop up window (Fig 2h). This can also be seen from the Provision Entries sub-module.