You can easily start loan applications from multiple places inside LoanCirrus.
The First Way:
From The Navigation Menu
When you start an application from the menu bar you must select the Client who will have this application. Once you select the client the process is common.
The Second Way:
Access the “Clients” table then select “Create Loan Application” from the action items spawned by clicking
for a specific client in the table
The Third Way:
From the Client Overview. Click the green button 'New Loan Application'.
After starting the application you will be taken to this page:
Select a loan product from the options provided which will render the page below. Note: The options you see here will depend on the configuration of the loan product you are using.
Once the loan product is selected, enter/select the loan terms.
Amount: Key in the loan amount (numeric value for e.g. 2000000)
Interest Rate: Key in the interest rate (numeric value for e.g. 10.091). You can also use numbers without decimals.
Term (months): Key in the loan repayment period in months (numeric value for e.g. 36)
Disbursement Date: Select the desired disbursement date from the pop-up calendar (see Date pickers/Calendars)
First Repayment Date: Select the desired repayment date from the pop-up calendar
Fixed Repayment Date: Select whether the repayment date is fixed or not.
If "Yes" is selected for a fixed repayment date, the following will appear:
Click
Select your customized repayment dates from the spawned display as shown below:
Click
to preview the schedule, or
to save the desired dates, or
to cancel the action.
Loan Purpose: Select loan purpose from the list provided. You can modify the dropdown lists in LIST in the Settings section.
Select how fees should be handled. You can read more on fees here
Penalty Rate: Key in the percentage for the penalty rate (numeric value for e.g. 9.5)
Arrears Grace Days: Key in the number of grace days (numeric value e.g. 3)
Click
to generate the loan summary and amortization table as shown below.
Click
to advance to the next step in the loan application process.
This will render a loan details page depicting the loan summary, status, balance, etc. Navigate and complete the loan application by using the tabs now available to add collateral, co-applicants, guarantors, income & expenditure details, and upload documents associated with this loan application.
Note the status of the loan application now displayed at the top right of this page
The status of the loan application may be changed as per workflow configuration by clicking the green arrow to move the application through the workflow process.
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