Line of Credit (LOC) module has arrived!

The LOC Module lets you classify a loan an a line-of-credit account, typically one that allows for multiple draws at irregular intervals.  LOC loans may be set up to follow an interest-only payment schedule, or a re-amortizing schedule.


 

1. Tag Loan as LOC and Select LOC Method

LoanLOC

 

2. Change Payment Amount on Loans according to their LOC method

Now the system automatically calculates the new payment amount and changes the payment amount on the loan before generating billing statements.

BillingStatementChangeLOCPayment