Overview
This page helps you understand how to create a loan facility. As part of it, you need to specify the loan facility details on the Loan Facility page. Upon saving, the loan facility will be created.
The below step-by-step instructions describe the process.
Creating a Loan Facility
1. On the Side Panel of the Finvisage application, click Liabilities, and then click Loan Facility from the drop-down menu.
The Loan Facility page is displayed.
2. On the Loan Facility page, click the Menu button at the bottom, and then click Add. See the image below.
The New page is displayed.
3. On the New page, enter all the loan facility information.
Note: 1. Fields marked with asterisk are mandatory. 2. Refer to the below table for the field description.
Field | Description |
External ID | In this field, enter the external ID. Note: The purpose of external ID is to identify the loan facility with a unique ID. |
Loan Facility Type | From this drop-down box, select the required loan facility choosing from Unsecured Loan, General Secured Loan, or Specific Charge Loan. |
ROC Reference Number | In this field, enter the ROC number. Note: The ROC Reference Number refers to the registered number with the Registrar of companies. |
Entity | From this drop-down box, select the required entity. |
Counter Party | From this drop-down box, select the counterparty name. Note: The counter party refers to the bank or financial institution, which the user is booking the facility. |
Currency | From this drop-down box, select the required currency. |
Sanction Date | The current date is displayed as sanction date by default. If required, you can change it. Note: The sanction date refers to the sanction date of the loan facility. |
End Date | In this field, specify the end date of the loan facility. |
Facility Amount | In this field, specify the end date of the loan facility amount. |
Covenant Default Interest Rate (% p.a.) | In this field, specify the Covenant Default Interest Rate. |
Payment Default Interest Rate (% p.a.) | In this field, specify the Payment Default Interest Rate. |
Arranger | From this drop-down box, select the arranger of the loan facility. Note: The arranger refers to the party who arranged the loan facility. |
Cover | |
Primary Security | From this drop-down box, select the primary security choosing from Absolute, Percentage, or Times, and then enter the value in the corresponding field. |
Secondary Security | From this drop-down box, select the secondary security choosing from Absolute, Percentage, or Times, and then enter the value in the corresponding field. |
Personal Guarantee | From this drop-down box, select the personal guarantee choosing from Absolute, Percentage, or Times, and then enter the value in the corresponding field. |
Corporate Guarantee | From this drop-down box, select the corporate guarantee choosing from Absolute, Percentage, or Times, and then enter the value in the corresponding field. |
Security Trustee | In this field, enter the security trustee name. |
Security Information | In this field, enter the security information. |
4. Click the Save button.
The loan facility is created.