Manage loan applications

Applications lists every loan application in the company, whatever its status. From here you open a loan to see everything about it, and make the few changes HR is allowed to make.

Find an application

1. Open HR › Loan › Applications

   In the menu on the left, select HR, then Loan, then Applications. With the Finance-Admin role it's Loan Applications.

   

   1. Applications in the Loan menu.
   2. Apply for Loan: apply on an employee's behalf (see below).
   3. Total Applications, Pending, Approved and Rejected.
   4. Filter by status (All Statuses) or by loan type (All Types), and Refresh.
   5. View opens the loan. Rows waiting for approval also show Approve 1 / Reject 1 (step 1) or Approve 2 / Reject 2 (step 2).
   6. The arrow shows the tenure, monthly instalment, date applied and purpose without leaving the list.

   The search box finds an employee, a loan number or a loan type. The statuses you can filter on are Pending HR approval, Pending MD approval, Awaiting offer response, Offer accepted, Offer declined, Disbursed, Fully paid, Rejected and Cancelled.

2. Open a loan

   Select View. The Loan application detail page shows the loan's progress, Basic details, Repayment overview, Disbursement and the full Approval history: who did what, when, the amounts and any comments.

   What you can do on this page depends on the loan's status:

   Status	You can
   Pending HR approval	Edit application (amount, repayment months, purpose), or Cancel application
   Awaiting offer response	Edit approved amount, View offer letter, or accept or reject the offer for the employee
   Disbursed	Record repayment or Pay off early, see Record loan repayments

Correct a pending application

While the loan is Pending HR approval, open it and use Edit application. Change the Amount, Repayment months or Purpose, then select Save. You'll see Loan application updated. The amount and months must stay inside the loan type's limits.

Change an approved amount

After the MD approves and before the employee accepts, open the loan and use Edit approved amount. Enter the new Approved amount and optional Comments, then select Save. You'll see Approved amount updated. The monthly instalment is worked out again.

Apply for a loan on an employee's behalf

Use this when an employee can't apply themselves.

1. Select Apply for Loan at the top of Applications (or HR › Loan › Apply for Loan).
2. Choose the Employee, then the Loan type. Each type shows its maximum and longest repayment.
3. Fill in Amount, Repayment (months), Purpose and, if you have them, Supporting documents (PDF, JPG or PNG, up to 10 MB each).
4. Select Submit application. The same eligibility rules apply as when the employee applies. You'll see Application submitted, and the application goes to step 1.

The form is the same as the employee's. See Apply for a loan for each field.

Look up one employee's loans

HR › Loan › My Loans in the menu shows your own loans. To see another employee's loans, open HR › Loan › Dashboard and select the My loans tile under Loan Modules (it says View loans by employee and outstanding balances). Choose the person in Select Employee: you see their applications with amount, tenure, monthly instalment, status and how much is repaid.

History

HR › Loan › History lists loans with Loan #, Employee, Type, Requested, Approved, Status and Applied date. Filter by status (Active, Approved, Completed, Rejected) and export the list. See also Loan reports.

If something goes wrong

Message	What to do
Purpose is required	Enter a Purpose.
Enter a valid amount	Enter an amount above 0.
Enter a valid repayment tenure (months)	Enter a whole number of months.
Enter a valid approved amount	Enter an amount above 0.
No active loan types. Configure them in Loan types.	Add or activate a loan type in Set up loans.
Loan application cannot be processed: …	The employee isn't eligible; the message says why. See Apply for a loan.