Maintain Loan Details

This activity allows you to create and authorize the loan related details such as sanctioned amount, maturity dates, exchange rates, lender details, type/ purpose of loan and term of loan. This page allows you to specify all the loan related fields such as sanctioned amount, maturity dates, exchange rates, lender details, type/ purpose of loan and term of loan.

Select the “Maintain Loan Details” activity under the “Loan Transaction” business component.

The “Maintain Loan Details” page appears.

Enter the following fields:

Loan No	A unique number identifying the loan number maintained in the system. The number can be auto – generated or manual. Help facility available.
Loan Description	A unique textual description of the loan (Alphanumeric, 40).
Status	The status of the loan number created will be displayed here.
Finance Book	Select the finance book to which the entries related to loan transactions should get posted, from the drop down combo.
Numbering Type	Use the drop-down list box to select the numbering type for the login organization unit and the “Loan Creation” transaction type. The numbering types must have already been defined in the “Create Numbering Class” activity of the “Document Numbering Class” business component and must be in “Active” status. The system displays the numbering type set as default for the transaction in the “Document Numbering Class” business component.
Sanction Date	The date on which the loan is sanctioned by the lender.
Project Code	The project code to which the loan transactions are to be attached. This code should have been defined in the "Project Definition" business component and the status of the code should be either "Approved" or "Revised”. Help facility available.
Project Name	The description of the project.

Enter the following fields in the “Lender Details” group box:

Lender ID	The code identifying the party (lender) created for the party type “Lender” under the Financial Services Setup business component.
Lender Name	The description of the Lender.

Enter the following fields in the “Loan Purpose” group box:

Loan Purpose	The purpose for which the loan is taken i.e. whether short term or long term.
Loan Category	The category or means through which the loan is taken i.e. Buyers credit or Commercial papers or Non – Convertible debentures or Corporate loan or Short term loan. This combo gets loaded based on the Loan Purpose selected.
Anchor Date	The date from which the term of the loan gets started.
Maturity Date	The date on which the Principal loan amount must be paid in full.

Enter the following fields in the “Term of Loan” group box:

Years	The term of loan specifying the number of years in the total tenure.
Months	The term of loan specifying the number of months in the total tenure.
Days	The term of loan specifying the number of days in the total tenure.

Enter the following fields in the “Sanction Particulars” group box:

Amount Applied	The amount of loan applied for.
Amount Sanctioned	The amount of loan sanctioned.
Currency	The currency in which the loan is granted. All the permitted currencies defined for a company will be displayed here.
Loan Amount In Base Currency	The loan amount in base currency. If the currency of the loan is in base currency, then both the “Currency” value and “Loan amount in base currency” value will be same.

Enter the following fields in the “Anchor Exchange Rate” group box:

Anchor Exchange Rate In Use

The user can either select values “Yes” or “No” loaded from the combo to set the applicability of anchor exchange rates.

Current Exchange Rate

The exchange rate as on the sanction date, of the currency in which the loan is granted.

Anchor Exchange Rate

The exchange rate present as on the date of anchor date. The exchange rates should be defined in the exchange rate master for the system to pick up the exchange rates as on the anchor date.

This is applicable only if the “Anchor Exchange Rate In Use” applicability is set as “Yes”.

Click the “Create” push button to create loan details

The system generates a unique number identifying the loan number if you have opted for the automatic numbering type.

The system updates the status of the Loan number created, as “Draft” if the “Maintain Loan Parameter” screen has not been updated.

The system updates the status of the Loan number created as “Fresh” if the “Maintain Loan Parameter” screen has been updated.

The system updates the login ID of the user and the created date in the “Created By” and “Created Date” fields.

Click the “Edit” push button to save the modified loan details

The system updates the loan details for the loan number created.

The system updates the status of the Loan number edited as “Draft” if the “Maintain Loan Parameter” screen has not been updated.

The system updates the status of the Loan number edited as “Fresh” if the “Maintain Loan Parameters” screen has been updated.

The system updates the login ID of the user and the date modified in the “Last modified by” and “Last Modified Date” fields.

Click the “Authorize” push button to authorize the loan details

The system updates the loan details as “Authorized” from “Draft” or “Fresh” status.

The system updates the login ID of the user and the date modified in the “Last modified by” and “Last Modified Date” fields.

Click the “Delete” push button to delete the loan details present in draft or fresh status.

The system deletes the loan details present in Draft or Fresh Status.

The system updates the login ID of the user and the date modified in the “Last modified by” and “Last Modified Date” fields.

Click on the link “Maintain Loan Parameters” to provide details related to Interest rates and Installments.

To proceed, carry out the following

Select the “Maintain Loan Parameter” link at the bottom of the page to record the additional details related to the loan document number.
Select the "Maintain Loan Additional Parameter" link at the bottom of the page to record the reference details related to the loan document.

Prerequisites

4 Finance book must be defined in the “Create Finance Book” activity of the “Organization Set Up” business component

4 Numbering Type must be defined in the “Create Numbering Type” activity of the “Numbering Class” business component

4 Lender ID must be defined in the “Maintain Party Details” activity of the “Financial Services Setup” business component

4 Project Codes must be defined under Project Management.