The User manual for the Jisort system

3. LOANS

3.2. Apply loan

This is a section to apply loans below is a table explaining the fields on this particular window.

Field 

Description

Select group

A field with a drop down list. This is a group where a member borrowing a loan belongs to. 

No need to fill it if a member does not belong to any group.

Member

Select member who is borrowing a loan

Loan reference number 

The number that uniquely identifies a loan

Loan type

Select the type of loan that a member is borrowing.

Loan purpose

Fill in why the member is borrowing a loan

Amount

Enter the amount being borrowed

No of repayments

Add the number of repayments for the loan being borrowed.

Date of loan application

Add the date the loan was applied

Grace period

An additional time given to a member to pay off their loan.

Charge deductions

Select from the drop down list whether you want that particular loan to attract charges

Date of first repayment

Select the date for the first repayment

Days before first repayment

Add the days before the first repayment

Interest rate

Add the interest rate for this particular loan

Loan top-up

Select either yes or no from the drop down list depending whether you want to a loan top up or not.

Create repayment standing order

This field allows one to create standing orders from the savings account to the loan account which is automated by the system.

The apply loan window looks like this;