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You can create your own custom Loan Types using one of the 3 templates that Ventures has to offer (504; 7a; or Commercial). To add a Loan Type:
- Click Administration in the menu at the top of the screen.
- When the Administration page loads, click Reference in the menu on the left.
- From the Reference sub-menu click Loan. From the Loan sub-menu click Loan Types.
- Click the Add button to add a new loan type.
- When you click add the Add a Loan Type pop up will appear. Fill out the details for the loan type.
Before you begin using the new Loan Type, there are a couple of additional configurations that you should consider.
Assign Cost Types that will appear in the Financing > Project Cost area
New Loan Types do not have any Cost Types associated with them. Cost types can be added by clicking the Cost Types tab in the pop up. You can do this when you initially create your loan type, or after the loan type has been created. Simply click on the name of the loan type to see the pop up again.
- Click the Cost Types tab
- Use the drop down menu to select the relevant Cost Types. You can select as many as you need to. You can use the X icon next to a cost type to remove it from selection.
- Remember to click save when you finish.
Configure your Credit Memos (Note: This requires the Web Templates module)
Your new loan type will not have any Credit Memos designated so you will need to configure which Credit Memos are applicable for the Loan Type.
1. Go into Reports & Letters > Web Templates.
2. Search for the Credit Memo you wish to configure. You can use the search bar to filter the list quickly.
3. Click on the Credit Memo to go to the editing screens. Click on the General tab to access the configurations.
4. In the Loan Type configuration, add your new Loan Type to the list.
NOTE: If you do not have the Web Templates module Contact Support for our team members to assign the System Credit Memo for that category type to your new loan type.
OPTIONAL: Configure your Loan Log
Some organizations use the loan log to track cycle time against loans. Your site administrator will need to visit Administration > Reference > Loan > Date Types to add the Loan Status to existing loan log dates.
