Assigning multiple investors to a loan
You can assign multiple investors to invest in the same loan and split the repayments back to investors based on pre-determined rates.
Prerequisites
The following are the prerequisites to assigning multiple investors on a loan:
- An investor is created.
- A CL contract is created.
Steps
Perform the following steps to assign multiple investors to a loan:
Log in to Salesforce account.
Click Servicing Configuration.
Go to Product, Product Management.
Click Fractionalization.
The Fractionalization Dashboard page is displayed.
Click Assign multiple Investors to a Loan (Beta) icon.
The Multiple Investor Orders page is displayed.
Select the Loan account.
Select the Account.
Specify or click on the calendar to select the Start Date.
Specify the Certificate Rate.
Specify the Service Rate.
Specify the Investment Amount.
Click Validate to validate the Investment order. The validated investment order is displayed in the investment order list with a confirmation message.
Field reference
| Field Name | Description |
|---|---|
| Loan Account | It is the loan account with which the investors are associated. |
| Account | It is the investor account. |
| Start Date | It is the date on which the investor is assigned to a loan. |
| Certificate Rate | It is the rate of Interest earned by the investor. |
| Service Rate | It is the income earned by the peer to peer service provider. This is calculated as the percentage of Certificate rate. For example, if the Certificate Rate is 10% and Service Rate is defined is as 2%, the P2P service provider earns 2% (10% of Investment amount) depending on other parameters such as the number of days for which the amount is invested. |
| Investment Amount | It is the amount which the investor invests. Investment Amount = Share * ( Principal Remaining / 100) |