Getting Started with Loans
The Loans module manages employee loans and advances from application to full repayment. This article explains the overall flow, who is involved, and where each part lives.
The flow at a glance
- Admin sets up the loan types and the policy terms once (see Loan Types and Settings & Terms).
- An employee applies for a loan from their own profile — choosing a type, entering an amount and purpose, reading the terms and signing (see Applying for a Loan).
- The assigned approver (a department or specific person) is notified, reviews the request, and approves or rejects it, e-signing the decision. On approval the system builds a repayment schedule and stores a signed PDF agreement (see Approving & Disbursing).
- Payroll deducts the monthly installment automatically and shows it on the payslip until the loan is repaid (see Repayment & Payroll).
Who can do what
| Role | Can do |
|---|---|
| Employee | Apply for a loan on their own profile; view their own loans and download their signed agreement. |
| Approver (assigned department or employee, and admins) | Receive requests, approve/reject, set the approved amount and installments, e-sign, record prepayments. |
| Admin | Everything above, plus manage loan types and loan settings/terms. |
Where to find it
- Loans list: Sidebar → HR → Loans — all loans you're allowed to see, with status and outstanding balance.
- Apply / your own loans: open your employee profile → Loans tab. Employees apply from here, just like applying for leave.
- Loan Types: HR → Loans → Loan Types (admin).
- Loan Settings (terms, approver, eligibility): the Loan Settings button on the Loan Types page (admin).
Key ideas
- Monthly salary drives limits. Loan amount caps that are set as a "× salary" multiple use the employee's total monthly salary (initial salary plus increments, minus decrements) — the same figure payroll uses.
- Own policy per company. Every company writes its own terms and defines its own loan types; ready-made templates are provided to start quickly.
- Signed record. When signatures are required, both the employee's and the approver's signatures are captured and preserved on a downloadable PDF agreement, with a frozen copy of the terms as they were at signing.