How to Create a Loan Account

To create a loan account for a client

To create a loan account for a group 

Available Actions: for each one - create as H3 level-header (will show in page-level table of contents) and for each one, include the following this is applicable.  List these out and then for each one, do the following:

Step-by-step guide (for each available action)

2. Field Name (attribute)	Description	Example	Validations (if applicable)

Create new individual loan

2. Field Name (attribute)	Description	Example	Validations (if applicable)

Create new group loan

Group Loan application : If the group wants take a loan (as group one loan) and do not want track how the loan is spitted between (among)the group members and as group repayment is collected. In this case only one loan account is created against the particular group. ( This is feature is useful for Bank linkage programs, where Nationalized Banks provide loan to a group rather than to member and as group need to repay the loan ex: SHGs)

2. Field Name (attribute)	Description	Example	Validations (if applicable)

See: http://mifos.cloud.answerhub.com/questions/116/what-is-the-difference-between-group-loan-applicat.html

Create new JLG loan 

New JLG loan application: In JLG loan application, a loan is created for each member of that group (one can exclude members if member is not applied for new loan) and tracked at member level only.And only these JLG loans appear in the collection sheet. This is feature is useful for organization following Grameen or similar methodology (center, group and joint liability loans)

It is similar to the individual loan but individual loan does not appear in the collection sheet.

2. Field Name (attribute)	Description	Example	Validations (if applicable)

Related articles

• Page:
  Share Accounts
• Page:
  How to Prepay a Loan Account
• Page:
  Using collection sheet or other payment types for making payments
• Page:
  How to Assign a Loan Officer
• Page:
  How to Add a Charge to a Loan Account