Preface
Purpose of this Document
This guide describes the tasks that you as a business user can perform using the CL Loan application. Each chapter provides information on the related business concepts, and the detailed steps for performing the tasks. Important business terms and user interface elements are described in detail in the Glossary at the end of this guide.
Intended Audience
The audience of this user guide includes Business Users, Implementers and System Administrators.
You must read this guide if you are a financial institution, bank or institutional investor using CL Loan for:
Submitting borrower applications for secured and unsecured loans to individuals and businesses
Evaluating the risk and credit profile of borrowers
Approving and disbursing loans
Funding commercial real estate loans
Providing microfinance and lease contracts
Maintaining the product offerings and associated details.
Prerequisites for Use
This guide assumes a basic knowledge of loan servicing concepts and familiarity with the CL Loan, Release 2 product and the Windows platform.
Organization of Information
The guide is organized in the order of tasks that form the logical flow of creating and approving a loan application:
Introduction
Provides an overview of the different types of loan products followed by a detailed business flow for loan products.
Key Concepts
Provides information about the key concepts of CL Loan which includes the details such as, interest calculation, types of payments, and funding a loan.
The chapters that follow provide details of what lenders can do at each step of processing the loan contract and how to fund them, along with detailed procedures for each such task. The field descriptions for each page are given at the end of the respective procedure.
List of Abbreviations
The following table lists all the abbreviations used in the document:
Abbreviated Term | Full-Form |
---|---|
ACH |
Automated Clearing House |
CDFI |
Community Development Finance Institution |
CLI |
Cloud Lending Inc. |
EMI |
Equated Monthly Installment |
EOD |
End of Day |
EOM |
End of Month |
FASB |
Financial Accounting Standards Board |
FFA |
Financial Force Accounting |
GAAP |
Generally Accepted Accounting Principles |
GL |
General Ledger |
IFRS |
International Financial Reporting Standards |
NBFC |
Non-Banking Finance Company |
P2P |
Peer-to-Peer |
Conventions used in the Document
To help you easily understand the information in this user Guide, there are a few hints which appear throughout in the form of:
-
Important information is presented as Tip.
Consider the example given below:
Tip:The loan extension is always applied on the unbilled payments.
-
Additional Information is presented as Note.
Consider the example given below:
Note:Click the look up icon to look for the required Approver.
-
Warnings appear as shown in the example below:
You cannot write off a loan with the status, Closed- Obligations met. If you do so, you will receive the following error message "Loan ID xxx cannot be written off. Please check the status of the loan."
-
Cross references will appear as given in the example below:
External Cross References: For more information about the contract creation, see CL Contract Creation in the CL Loan Administration Guide.
Internal Cross References: For more information about creating a new location, see New Location.
-
Menus, options, icons, fields, and text boxes on the screen will be in Bold, Initial Caps as given below:
For example, Click Create a Contract.
Related Documentation
Refer to the Cloud Lending User Documents available on the Q2 Customer Portal for all the documentation, release notes, and related materials that describe the latest features and resolutions for issues logged for your product. Log into QU, our online training, and learning platform through the Q2 Customer Portal for all your online training needs for Cloud Lending products.
Technical Assistance
For all customers and partners of Q2 Software, Inc., our technical support team provides technical assistance. Q2 Software, Inc. customers are served via a dedicated support desk. Contracted customers are provided a sign-on to communicate with Q2 Software, Inc. technical support staff.
Disclaimer
The information in this document is subject to change without notice. In no event shall Cloud Lending Solutions be liable for direct, indirect, special, incidental or consequential damages of any nature or kind arising from the use of this document, nor shall Cloud Lending Solutions be liable for incidental or consequential damages arising from the use of software described in this document.
This document and its sections must not be reproduced or copied without the written permission of Cloud Lending Solutions and its contents must not be imparted to a third party nor be used for any unauthorized purpose. The software described in this document is furnished under a license and may be used, copied, or disclosed only in accordance with the terms of such license.
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