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Video Demonstration:

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nameSetting Up Loan.mp4
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Step-By-Step Guide to Creating a New Loan:

  1. From the chosen tenants page, click the "Tracking" tab. 
  2. Click "Create New Loan".
  3. From there, enter/select:
    1. New Loan from Unit Program (optional)
      1. This selection can only be chosen if the household is assigned to and/or moved into a loan program/project/unit. The name will automatically be set to the unit address.
        1. Select a Loan Account
    2. New Loan from Loan Program (optional)Loan Term (In Months)
      1. This selection is for a non-housing loan , (such as a repair loan) and can be made from any loan program flagged as non-housing.
        1. Loan Amount
        2. Start Date
            1. Select a Loan Program.
            2. Select a Corresponding Project.
            3. Enter a Ledger Name. (Accounts are grouped by a ledger name.)
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        3. Select/Enter a Start Date
        4. Monthly Charge Options: Calculate will calculate the charge based on the Rate and Term as well as the Principal. Custom allows you to enter a custom amount and will adjust the term based on the principal remaining and the interest rate. 
        5. Interest Rate (Set to default by loan type if configured, however, can be edited)Post Charges Date
        6. (Day the loan charge will be posted monthlyLoan Term (In Months)
        7. Principal Paid to Date (If any)
        8. Interest Paid to date (If any)
        9. Principal Due (to date)
        10. interest Due (to date)
        11. Other Charges Due (to date)
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        1. Amount
        2. Principal Remaining (if any)
        3. The monthly charge figure will calculate the projected monthly charge for this loan based upon the entered settings so far.
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      2. Click "Save New Loan".
      3. Success! The new loan has been saved.
        For Information on Making a Loan Payment See, Making a Loan Payment

      Video Demonstration:

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