| Loan Application State | Action | Resultant Application Status |
|---|
| State: ['Active'] | Loan Repayment - Enter transaction amount and date
- Transaction can be in the past
- unless restricted by accounting
| State: ['Active'] - Repayment transaction entered capturing date and amount
- The full amount paid is broken into principal, interest, fees, penalites portions which is useful to downstream systems like 'accounting'
- 'Repayment schedule' is updated to reflect current situation after loan repayment transaction
- 'Loan summary' totals updated to reflect current situation after loan repayment transaction
|
| State: ['Active'] | Waive Interest - Can opt to waive all outstanding interest or a portion of
| State: ['Active'] |
| | Close | State: ['Closed - Obligations met'] - Closes loan as obligations met if in suitable state
|
| | Write off | State: ['Closed - Written off'] - Full write-off of outstanding balance of loan (principal + interest + fees + penalties)
|
| | Close - (rescheduled) | State: ['Closed - Reschedule'] - Legacy state introduced to aid migrations from older mifos software to this platform.
|