Video Demonstration:
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Step-By-Step Guide to Creating a New Loan:
- From the chosen tenants page, click the "Tracking" tab.
- Click "Create New Loan".
- From there, enter/select:
- New Loan from Unit Program (optional)
- 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.
- Select a Loan Account
- Select a Loan Account
- 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.
- New Loan from Loan Program (optional)Loan Term (In Months)
- 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.
- 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.
- Loan Amount
- Start Date
- Select a Loan Program.
- Select a Corresponding Project.
- Enter a Ledger Name. (Accounts are grouped by a ledger name.)
- Select/Enter a Start Date
- 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.
- Interest Rate (Set to default by loan type if configured, however, can be edited)Post Charges Date
- (Day the loan charge will be posted monthlyLoan Term (In Months)
- Principal Paid to Date (If any)
- Interest Paid to date (If any)
- Principal Due (to date)
- interest Due (to date)
- Other Charges Due (to date)
- Amount
- Principal Remaining (if any)
- The monthly charge figure will calculate the projected monthly charge for this loan based upon the entered settings so far.
- New Loan from Unit Program (optional)
- Click "Save New Loan".
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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