Overview

This function guides you through the process of creating a new loan for an existing client. The system uses a step-by-step wizard to ensure all necessary information is captured accurately, from selecting the loan product to printing the final application documents.

For a visual guide on how to create a new loan, watch the Video Link - https://www.youtube.com/watch?v=enRN9OigKkM

Prerequisites: Required Permissions

In organizations with multiple branches, access to create loans for clients outside of a user's home branch is restricted by default.

• Symptom: If a user cannot create a loan for a client from another branch, the New Loan button or tab will be disabled (greyed out).
• Resolution: To grant access, an administrator must enable the Manage Other Branch Loans permission for the user's role.

To Enable Permissions:

1. Navigate to Setup > Security > Roles.
2. Select the role you wish to edit (e.g., Consultant, Branch Manager).
3. Scroll down to the Loan section.
4. Select the checkbox for Manage Other Branch Loans.
5. Save the changes.

Navigation

1. Navigate to Client Administration and Search for Existing Client.
2. Select the desired client from the search results.
3. Click the New Loan button.

The New Loan Wizard

The system will guide you through a series of screens to gather all required information.

Wizard Step	Description	Documentation
Loan Product & Status	Select the appropriate loan product and set the initial status	Loan Product & Status
Loan Calculate	Perform initial calculations based on the product	Advanced Calculation
Loan Amount & Instalment	Define the final loan amount and instalment details	Loan Amount & Instalment
Interest & Fees	Review and confirm the interest and fees applied	Fees & Interest
MAXCOLLECT	Configure settings for collection services, if applicable	Payment Collection
3rd Party Payment	Add any third-party payments to be made from the loan	3rd Party Payment
3rd Party Payment Beneficiary	Define the details of the third-party beneficiary	3rd Party Payment Beneficiary
MAXUP	If applicable, process a top-up on an existing loan	GroupsRUs Insurance
Summary	Review a complete summary of the loan details before finalization	Summary
Document Signing	Handle electronic signature and authentication processes if required	Signing Documents
Take a Picture	Take a photo of the client with the loan application	Take a Picture
Print	Generate and print the final loan agreements and schedules	Print

Navigating the Wizard:

• Click the Next button to proceed to the next step.
• Click the Back button to return to a previous step to make changes.
• Click the Finish button on the final screen to save all information and complete the creation of the loan.

Important Considerations

Compliance and Client Consent

Ensure the "Application for Credit" section is completed correctly. The borrower must explicitly provide consent for the following:

• Receiving marketing material: [Yes/No] (Initial)
• Being contacted by marketers: [Yes/No] (Initial)
• Sharing information with third parties for marketing: [Yes/No] (Initial)
• Automatic increases in their credit limit: [Yes/No] (Initial)

Integration with Collection Service Providers

If you use a Collection Service Provider (e.g., Allps, RealPay, SureSystem, Amber), you must follow the specific procedures required for that integration partner when creating the loan.