How To Refinance a loan on Core

Created by Nicola Njagi, Modified on Thu, 7 Dec, 2023 at 8:16 PM by Nicola Njagi

Step 1; Login to Core Platform:

Step 2; Locate Member:

  • Utilize the search function to find the member for whom you want to initiate the refinance.

Step 3; Access Member's Profile:

  • Navigate to the member's profile and locate the loan you intend to refinance.

Step 4; Initiate Refinance:

  • Scroll up within the loan details, click on "More," and select the "Refinance" option from the menu.

Step 5; Complete Refinance Process:

  • Follow the prompts to complete the refinance process, ensuring all required details are accurately provided.

  • Submit the refinance request.

Step 6; Monitor Refinance Status:

  • Return to the loans page and identify the loan that is now in the "Approved" state.

Step 7; Disburse Refinanced Loan:

  • Click on the approved loan, then proceed to disburse the refinanced amount.

Step 8; Confirmation:

  • Congratulations! The refinance process is complete, and the loan has been successfully refinanced.

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