Loan Batch

For a loan to be registered in the system, you must define:

• Login: Login or email of the customer for whom the loan or loan application was created

• Credit product: The credit product chosen for the loan or loan application

• Value: The total amount lent

• Periodicity: Installment period (monthly, weekly, etc.)

Other (optional) loan details are:

• Interest rate: The interest rate defined for the selected credit product or specified in the final loan offer

• Branch: The branch to which the loan is assigned

• Start date: The first date in the schedule. When the funds are provided directly to the customer, it is usually the same as the disbursement date. However, when the funds are provided to a third party (e.g. a retailer who has provided services to the customer, the start date will be the date when the service has been provided, regardless of how the retailer and lender agree on the actual disbursement)

• First due date: Date to which the first payment is due; end of the first installment

• Equal payment: An equated monthly installment (EMI); a fixed payment amount made by a borrower to a lender at a specified date each calendar month.

• Retailer and Shop: Retailer (AKA Vendor) and/or Shop that has received or is to receive the payment borrowed by the Customer (see https://turnkey-lender.atlassian.net/wiki/spaces/TLKB/pages/3230531791 )

• Sales tax: Sales tax applied to the purchase

• Disbursement → Date: The date on which the loan funds have been disbursed

• Disbursement → Reference number: Unique id of the disbursement used to refer to it in the system

• Disbursement → Type: In general there are two types of disbursement called:

  • Automatic: in-the-system disbursement, initiated from inside the system and performed via a payment service provider

  • Manual: out-of-the-system disbursement. Regardless of the name, it doesn’t have to be performed manually - it is any disbursement performed beyond our system (via an external payment provider, face-to-face, with any kind of financial interests and mutual set-offs, etc.)

• Disbursement → Comment: Any free text comment

Loan Status

The loan status depends on the information in the optional field Disbursement Date:

• If the Disbursement Date is left empty, the loan is created in the Origination status or Pre-Origination status (subject to how complete are the customer details).

• If the Disbursement Date is defined, the Loan is created in the Active status. After the payment information has been provided, the Loan may be moved to the Past Due status.

Credit Lines

When a credit line is added to the system, the Disbursement information shall be left empty. It can then be registered in the system with the Disbursement Batch Import.