Changing the credit limit

Credit limit is the maximum advance amount that can be given to the customer during the life cycle of a contract. The credit limit is set for the product type Line of Credit.

Prerequisites

The following are the prerequisites to changing the credit limit:

• The product type of the contract is Line of Credit.

• Contract is in Active Good Standing or Bad Standing status.

Steps

Perform the following steps to change the credit limit:

1. Log in to your Salesforce account.

2. Click CL Contracts.

3. Select the required CL Contract ID.

4. Click Change Credit Limit.

   The Credit Limit Change page appears, displaying the current credit limit.

5. Specify the New Credit Limit.

   The New Credit Limit must be lesser than the Maximum Financed amount which is defined under the loan product. 

6. Click Save.

   In the loan application, you can see the changed credit limit.

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