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Loan Entry Part 3 Individuals

The Loan entry part 3 deals with the guarantor, collateral and contracts for the loan being applied for.

To be able to enter these you should have entered information for Loan Application, Loan Entry Part 1 and Loan Entry Part 2 and the following screen will be displayed a result:

• 1st Guarantor: Click on the Choose command button to select a guarantor from the drop down list. If you client has other guarantors, you can enter them under 2nd Guarantor and 3rd Guarantor. The guarantors should have been entered at Clients\Loan Guarantors.
• Status: Click on the Status button to view the loan status of the guarantor. The screen like the one below will show whether the guarantor has an outstanding loan with the organisation or not.

• Contract: Click on this button to attach the guarantor contract. This should have been defined as Bail Contracts at System/Configuration/ Loan Product settings/Contracts.
• New Guarantor: If the client has a new guarantor you can click on this button to add him to the guarantors list.
• Collateral 1: Enter the details of the collateral provided by the client, e.g., "Land Title". If you have more collateral items, you can enter them under Collateral 2 and Collateral 3.
• Collateral based on value (Otherwise type): Tick this option and the loan guarantee will be based on the value of the collateral.However you will still have to type the collateral type and the value in the corresponding fields provided. When un-ticked the loan guarantee will be based on the collateral type this collateral type will have a value attached to it. From the drop down menu, select the collateral type to be used for guaranteeing the loan. You should have defined the collateral type under the menu Support Files/Loan Guarantee Items.
• Sector: For reporting purposes you have to indicate the business sector for which the loan is used. Business sectors are defined at the menu Support Files/Business Sector. Scroll-down the drop-down list-box and click on the appropriate sector.
• Collateral Contract: This is the contract made between the organisation and the client for the collateral item given.This should have been defined as Collateral Contracts at System/Configuration/ Loan Product settings/Contracts.
• Notes: Click on the Notes button and enter specific information about the client.

The notes will be displayed on the clients loan ledger card.

• Expected disbursement date: If you want to prepare a Loan Contract for the loan at this point, enter here the expected disbursement date, e.g., "01/01/2012" and press the button Print Loan Contract. Loan Performer will update the previously created Loan Contract template with the expected disbursement date and you will have the Loan Contract for this client.
• Check Savings?: Click this button to view the current balances on the client's savings accounts (if any). This table is read-only, you cannot make any changes at this point.

• Preview: When the Preview button is clicked, details of the Loan Repayment Schedule are displayed. You can check the loan details and if any modifications are needed, return to the previous pages by clicking on the Back button.

Click on the button Save to save the loan details. This subsequently prompts you to view and then print the Loan repayment schedule.

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