Overview

This is the first step in the New Loan wizard. On this screen, you will select the core product for the loan, define its initial status, assign a salesperson, and set key dates and payment information. The fields and options available may be customized based on your system setup and user permissions.

Prerequisites & Important Notes

• User Permissions: Your ability to see certain loan products or edit fields like Status and Salesperson is determined by the permissions set for your user role by the System Administrator.
• Required Setups: Loan Products and Salesperson lists must be configured in the system beforehand to be available for selection.
• Outstanding Loan Warnings: If the client has other outstanding loans, a pop-up warning will appear. This requires the Show Client Warnings permission to be activated on your user role.
• Integration Partners: If you use a Collection Service Provider (e.g., Allps, RealPay, SureSystem, Amber), follow the specific procedures required for that partner during loan creation.

Navigation

1. Navigate to Client Administration > Search for Existing Client.
2. Select the desired client from the search results.
3. Click the New Loan button to enter the wizard. This screen is the first step.

Field Descriptions

• Loan Product: Select the appropriate loan product from the dropdown list.

  • The list only shows products you have permission to access.
  • The list is filtered to only show products with a repayment frequency that matches the client's payment frequency (e.g., monthly, weekly).
  • All financial values entered later in the wizard must fall within the minimum and maximum parameters defined for the selected loan product.

• Status: Defines the current state of the loan. A default status (e.g., Active) may be set up by your administrator, but you can typically change it.

  • Application: The standard initial status for a new loan. In this status, you can generate a quote for the client.
  • Active: The loan has been approved. In this status, you can generate the official loan agreement and payment schedule.

• Salesperson: Select the salesperson responsible for the loan.

  • The field defaults to the salesperson assigned to the client's main profile.
  • This can only be changed while the loan status is "Application" and if your user role has permission to edit this field.

• Province: The province where the loan is being issued. This defaults to the client's province but can be changed.

• Payback Type: Select the method the client will use for repayments. Options include Cash Receipt, DebiCheck, Debit Order Receipt, EFT Receipt, Salary Deduction, and others.

• Purpose: Select the reason the client is taking the loan. A default purpose can be configured in the system settings, but you can change it if needed.

• Use Compuscan / Experian check box: This option appears if a credit bureau integration is active for your entity. Tick this box to associate a credit check with this loan. (Contact support@maxmoney.co.za to enable this feature).

• Compuscan / Experian Reference Number: If the checkbox above is ticked, you can select the reference number of a previously performed credit enquiry from this dropdown list.

• Application Date: The date the client officially applied for the loan. Click the calendar icon to use the date picker.

• Agreement Date: The date the client signed the loan agreement. Click the calendar icon to use the date picker.

Available Actions

• Next: Proceeds to the next step in the New Loan wizard.
• Cancel: Exits the New Loan wizard without creating a loan and returns to the previous screen.
• Save & Close: Saves all changes made on this screen and exits the wizard. The loan will be created in its current state.