How to Refinance a Loan

Search for the member created and Navigate to the loan account

Click on the view Loan account and on the More button at the top Select Refinance

Configure the refinanced loan

Enter a new principal amount, Choose the purpose, and Enter new duration where applicable

Click the next button and choose the mode of repayment

Click next and select the mode of disbursement

Click next and enter guarantor information

Review your details in the next window and click the submit button to log in the new loan

Navigate back to the member account and find the pending loan account

Review the loan and approve

Navigate back to the member profile and find the Approved loan account

Select the Approved loan and disburse.

Navigate back to the member account(Note the original loan account is in Closed refinanced status)