Refinancing a loan in LoanCirrus may see adjustments being made to the loan amount, interest rate or loan terms of a disbursed loan. Refinancing may take the form of a Top-up of a Reschedule. In essence a Top-up is adding to the amount being borrowed and a Reschedule is an adjustment made to the term (length) of the loan.

To refinance a loan click the

button at the top right of the loan overview page as shown below.

This will reveal the options to Top-up or Refinance.

The Top-up option will render the popup below:

Enter the Top-up amount and make any other necessary changes to the loan information (e.g. interest rate, term etc).

Click

to generate an updated payment schedule.

Click

to apply these changes to the loan account.

The loan overview will be updated accordingly.

Guide the loan through the workflow process by clicking

next to the status of the application as shown below (this will take the application to the next step defined in the workflow process assigned to the loan product):

Once the loan has been approved/pending disbursal click the

button.

This will render the popup below:

Select a Funding Source, Payment Channel and a Disbursement date then click

.

The loan will now become Acitve and current.

The Reschedule option will render the popup below:

Adjust the loan terms as is necessary and make any other changes needed.

Click

to generate an updated payment schedule.

Click

to apply these changes to the loan account.

The loan overview will be updated accordingly.

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Guide the loan through the workflow process by clicking

next to the status of the application as shown below (this will take the application to the next step defined in the workflow process assigned to the loan product):

Once the loan has been approved/pending disbursal click the

button.

This will render the popup below:

Select a Funding Source, Payment Channel and a Disbursement date then click

.

The loan will now become Acitve and current.