Creating a loan application
Capture a loan for a member or group, within the product’s limits.
- Open .
- Choose whether the loan is for a member or a group, then search and select them.
- Choose the loan product. The amount, term, frequency and interest fields fill with the product’s defaults and are limited to its range.
- Adjust the amount, term and rate if needed, and set the expected dates.
- Choose the loan officer and the loan purpose.
- Add guarantors, collateral and documents (or do so after saving).
- Save. The loan is created as submitted and appears in for approval.
Fields
| Field | Required | What it means |
|---|---|---|
| Client type | required | Member or group. |
| Member / group | required | Who is borrowing. |
| Loan product | required | Template for the loan — see Loan products. |
| Fund | required | Funding source; defaults to the product’s fund. |
| Applied amount | required | Must be within the product’s principal limits and the branch’s loan limits. |
| Loan term | required | Number of repayment periods. |
| Repayment frequency + type | required | e.g. every 1 month, every 2 weeks. |
| Interest rate | required | Within the product’s minimum and maximum. |
| Expected disbursement date | required | When you plan to pay out. |
| Expected first payment date | required | When the first instalment is due. Use it to set a grace period or align with pay day. |
| Loan officer | required | Who manages the loan; it appears in their portfolio and reports. |
| Loan purpose | required | Why the member is borrowing. |
Tip
Check the member’s existing loans and savings on their profile before submitting. The AI loan insight button on a loan writes an appraisal summary for the credit committee — it supports, but never replaces, your appraisal.
Applications from the member app
Members can preview and apply for loans from the mobile app. Those applications arrive in where staff approve them into a loan or reject them.
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