Loan Management Solution

Loan request

Create loan request

Approver receives loan request email notification

Loan request email notification is sent to the approver

Employee gets an email notification - once approved or rejected

Approver approves or rejects loan request and the decision/result for that loan request gets sent to the employee as an email notification

Mandatory field for loan rejection reason - 'Reason for Rejection'

Approver has to fill the mandatory field with the reason for loan rejection when rejecting an employee loan request , 'Reason for Rejection' - for e.g. Reason for Rejection: multiple loan requests made in the past month

Mark an employee as a 'Loan Defaulter'

HR admin/approver can select the corresponding checkbox to mark an employee as a 'Loan Defaulter' - for e.g. if previous loans were unpaid or not paid on time

Automatic loan rejection for an employee who is a 'Loan Defaulter'

Employee that has been marked as a 'Loan Defaulter' gets an automatic loan rejection email notification once the loan request is created - Reason for Rejection: Loan Defaulter

Email notification for the employee once the loan is paid

Employee receives an email notification once the loan payment is processed successfully

Limits for employee loan requests

HR admin/manager can set a limit for the number of loan requests that can be made by an employee per year

View employee loan request attached to the employee

HR admin/manager can view the loan request made by an employee when accessing that employee's details

Employee request for skipping installment

Employee can create a request for skipping installment, by selecting 'Skip Installment' for specific number of months required

Approval or rejection email notification

Approver can either approve or reject the request, email notification is then sent to an employee accordingly

Once approved, carried to another date (Moves the final installment month/date further)

If the request is approved, that skipped installment is carried to another date, which consequently moves the final installment month/date further

Skipped Installment account entry

Skipped Installment account entry is automatically created

Employee loan dashboard

View employee loan dashboard

Employee loan analysis report - detailed summary

Manager/HR admin can view employee loan analysis report - detailed summary

Import employee loan

Employee Loan can be imported using a csv or an excel file