+ 

or 

-

Click the + icon to open, and the - icon to close, you can add additional loan details on the following tabs:

•     Loan Detail

•     Payment Info

•     Loan Analysis

•     Compliance

•     FSA Guarantee

New/ Existing/ Related

These are the categories in which loans are grouped. Select a category for the loan.

When you select Related (indicating a loan to a related entity of the customer) and add the loan to the schedule, a dialog box appears enabling you to select an entity.

Note  To classify a loan as an FSA guaranteed loan, you must select New in this field.

Loan #

The financial institution’s identifier for the loan.

Creditor

The creditor of the loan.

Select the creditor in the drop-down list. If you do not see the appropriate creditor, click the Creditor link above the drop-down list to display the Customer Creditors dialog box. Use this dialog box to add, delete, or copy creditor information at the summary and detail levels.

Loan Type

These are the types of loans.

Two sets of options can appear depending on the Balance Sheet Format you selected on the Balance Sheet Account screen.

•     Cur.—A current loan. Typically an operating loan or a debt that matures in less than one year.

•     NCur.—A non-current loan. Typically a debt that matures in more than one year.

or

•     Cur.—A current loan. Typically an operating loan or a debt that matures in less than one year.

•     Int.—An intermediate loan. Typically a debt that matures between one and ten years.

•     L.T.—A long term loan. Typically a debt that matures in more than ten years.

Prin. Bal.

The current principal balance for the loan.

Note  This field only appears when Exist or Related is selected in the New/ Existing/ Related field and it replaces the Adv. Amount field.

Adv. Amount

Total amount requested for new loan.

Note  This field only appears when New is selected in the New/ Existing/ Related field and it replaces the Prin. Bal. field.

Int. Rate

The interest rate percentage for the loan.

Accrued Int.

The accumulated interest amount of the principal loan.

Note  This field is only available when Exist or Related is selected in the New/ Existing/ Related field.

Pmt. Method

The Loan payment method.

Two sets of options can appear depending on the Loan Type you selected.

Selecting the Cur. loan type displays:

•     Rev Loc 

The Revolving LOC method advances payments or pays down loan balances based on monthly cash flow allocations.

This option automatically calculates the Pmt. Amount and Total Annual Payment based on values entered in other fields.

•     Non Rev

The Non-revolving method advances payments or pays down loan balances at a specified point in time.

This option automatically calculates the Pmt. Amount and Total Annual Payment based on values entered in other fields.

•     Pmt. Amt.

The Payment Amount method allows you to enter the Pmt. Amount and the
Pmts/Yr to update the Total Annual Payment without the breakout of principal and interest. This option disables the Interest Pmt/Yr and Principal Pmt/Yr fields.

Note  The Loan Payment Method field on the Proj. & Actual Inc/Exp Accounts screen must be set to Total Annual Payment or Total Annual Payment - Operating and Term Detail for this field to be displayed.

•     Refi. 

The Refinance method pays off an old loan with a new loan.

Entering values in the Interest Pmt/Yr and Principal Pmt/Yr fields updates the Pmt. Amount and the Total Annual Payment fields.

With this payment method, the principal and interest do not flow to the balance sheet; however, the loan pay-off amount does flow to a Pro Forma balance.

Note The Loan Payment Method field on the Proj. & Actual Inc/Exp Accounts screen must be set to Principal and Interest for this field to be displayed.

Selecting the NCur., Int., or L.T. loan types displays:

•     Equal 

The Equal Payment method allows loan payment amounts (principal and interest) to be constant for the life of the loan.

This option automatically calculates the Interest Pmt/Yr, Principal Pmt/Yr, and Total Annual Payment based on values entered in other fields.

•     Fix Prin.

The Fixed Principal method allows loan payments to consist of a constant annual principal reduction and diminishing interest for the life of the loan.

This option automatically calculates the Pmt. Amount, Interest Pmt/Yr, and Total Annual Payment based on values entered in other fields.

•     Open  

The Open method allows flexibility to enter the Interest Pmt/Yr and Principal Pmt/Yr values manually.

This option automatically calculates the Pmt. Amount and Total Annual Payment based on values entered in other fields.

•     ReAm. 

The Reamortize method projects a different payment schedule than the one originally set up for the loan.

This option automatically calculates the Pmt. Amount and Total Annual Payment based on values entered in other fields.

•     Pmt. Amt.

The Payment Amount method allows you to enter the Pmt. Amount and the
Pmts/Yr to update the Total Annual Payment without the breakout of principal and interest. This option disables the Interest Pmt/Yr and Principal Pmt/Yr fields.

Note  The Loan Payment Method field on the Proj. & Actual Inc/Exp Accounts screen must be set to Total Annual Payment or Total Annual Payment - Operating and Term Detail for this field to be displayed. This method replaces the Refi. method.

•     Refi. 

The Refinance method pays off an old loan with a new loan.

Entering values in the Interest Pmt/Yr and Principal Pmt/Yr fields updates the Pmt. Amount and the Total Annual Payment fields.

With this payment method, the principal and interest do not flow to the balance sheet; however, the loan pay-off amount does flow to a Pro Forma balance.

Note  The Loan Payment Method field on the Proj. & Actual Inc/Exp Accounts screen must be set to Principal and Interest for this field to be displayed. This method replaces the Pmt. Amt. method.

Pmt. Amount

The Loan payment amount (monthly or annual).

You can schedule either monthly payments that separate principal from interest, or a total annual payment that combines principal and interest. Depending on the method you choose, the system calculates amounts and activates related entry and check boxes.

Note  The availability of this field depends on your selection in the Pmt. Method drop-down list.

Pmts /Yr

The annual number of payments    

Interest Pmt/Yr

The total amount of annual interest payments for the loan.

When you enter an amount in this field, you can select any of the following check boxes to send this amount to other fields within the Lending Cloud application:

•     Select the To I/E check box to place the amount in the designated income/expense period. Calculation display depends on your selection in the Pmt. Method drop-down list.

•     Select the To CR check box to include the interest amount in the credit relationship information about the overall exposure of the borrower This is required for loans to be included in the consolidation process. The layout of the Credit Relationship page determines the printing order of the Credit Action Reports.

Note  The availability of this field depends on your selection in the Pmt. Method drop-down list.

Principal Pmt/Yr

The total amount of annual principal payment.

Note  The availability of this field depends on your selection in the Pmt. Method drop-down list.

Total Annual Payment

This calculation is based on the payment amount and the number of payments per year.

To I/E

Selecting this check box enables certain amounts entered for the loan to appear in relevant charts of account on the income/expense statement that is linked to this debt schedule.

Note  This check box is not available when the Payment Date on the Payment Info tab is set to a date outside of the linked income/expense statement year.

To BS

Selecting this check box enables certain amounts entered for the loan to appear in relevant charts of account on the balance sheet that is linked to this debt schedule.

Note  This check box is not available when Refi. is selected in the Pmt. Method drop-down list.

To CR

Check box enabling the display of the loan’s information on the Credit Relationship tab.

Add

This option adds the loan to the debt schedule.

In the drop-down list to the right of this option, select the type of loan you are adding:

•     Ag. - Agriculture

•     Com. - Commercial

•     Pers. - Personal