Answers.Body: <p>You can add Custom Contribution fields (on a per 'Contribution Type' if necessary) hence if you need fields that show Interest Rate etc you can do this via the UI.</p>
  
  <p>I am unclear if you need the user_unique_id since the civi 'internal id' might do the required. Ditto for 'creation date' etc as these might be data that core civicrm handles anyway.</p>
  
Answers.ContentLicense: CC BY-SA 4.0
Answers.CreationDate: 2018-05-04T12:14:44.450Z
Answers.Text: Thanks for your reply, Pete. To clarify my question, the functionality not already in Civi core would at least deduct new payments from loan principle (modify Contributions to work in reverse?), calculate and add interest to principle over time, allow for payment frequency options (annual, quarterly, monthly or custom), and calculate scheduled payments to lenders based on current balance and number of months remaining in term. Also, lenders should be able to make a Loan Offer, which org must manually accept or decline. If Loan Offer accepted, lender can initiate Loan via contribution page.
Answers.UserDisplayName: Prónay
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Answers.CreationDate: 2018-05-04T19:56:07.073Z
Answers.Text: Yes I don't doubt you have some significant coding to do. Other thing to think about would be using Pledges in some way since that gives you the ability to set an amount and then chip bits off it as repayments come in - basically treat pledges in reverse?
Answers.UserDisplayName: petednz - fuzion
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Answers.CreationDate: 2018-05-04T19:57:39.293Z
Answers.Text: Oh - and to answer your question. We would be interested to work on such an extension and would be happy to provide an estimate. Can you ping me directly peter.davis at fuzion.co.nz
Answers.UserDisplayName: petednz - fuzion
Answers.ContentLicense: CC BY-SA 4.0
Answers.CreationDate: 2018-05-05T21:11:03.550Z
Answers.Text: We're working on a loan management system for an organisation at the moment. We've got phase 1 released, which deals with loan setups including advanced payment holiday calcs etc. If you'd like to join the project I can check with the client if they'd be happy for us to share and publish the code?
Answers.UserDisplayName: Parvez Saleh
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Answers.CreationDate: 2018-05-02T19:33:07.227Z
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Answers.UserDisplayName: petednz - fuzion
Body: <p>Our organization accepts loans of $1000 or more from individuals and repays them incrementally with interest. What would it take to integrate the management, tracking and repayment of these loans with our existing WordPress-deployed CiviCRM system and data?</p>
  
  <p>A few things to keep in mind:</p>
  
  <ul>
  <li>Each loan should be tied to either an Individual or to an Organization</li>
  <li>After our org (manually) accepts a loan offer, lender should be able to transfer funds to our merchant account via credit card or bank card</li>
  <li>Payments (by check) to lender would be entered manually by user</li>
  <li>Basic columns should include user_unique_id, Loan ID, Interest rate, Term, Creation date, Principle and Current balance</li>
  <li>Each Loan ID should be tied to a record of payments that includes date, check number and any other transaction-specific data for each payment</li>
  </ul>
  
  <p>Is anyone else using Civi to manage incoming loans, and if so, how're you doing this? Or, is anyone interested in developing a new extension (i.e. Loans Component)? What might that cost?</p>
  
Tags: <wordpress><extension>
Title: Managing & reporting Loans or Microloans to org from individuals?
ThreadText: # Managing & reporting Loans or Microloans to org from individuals?
  
  (Asked by: username_0 on 2018-05-02)
  
  Our organization accepts loans of $1000 or more from individuals and repays them incrementally with interest. What would it take to integrate the management, tracking and repayment of these loans with our existing WordPress-deployed CiviCRM system and data?
  
  A few things to keep in mind:
  
  * Each loan should be tied to either an Individual or to an Organization
  * After our org (manually) accepts a loan offer, lender should be able to transfer funds to our merchant account via credit card or bank card
  * Payments (by check) to lender would be entered manually by user
  * Basic columns should include user\_unique\_id, Loan ID, Interest rate, Term, Creation date, Principle and Current balance
  * Each Loan ID should be tied to a record of payments that includes date, check number and any other transaction-specific data for each payment
  
  Is anyone else using Civi to manage incoming loans, and if so, how're you doing this? Or, is anyone interested in developing a new extension (i.e. Loans Component)? What might that cost?
  
  **Tags:** wordpress, extension
  
  
  ---
  
  ## 1 answers
  
  ### Answer by username_1 on 2018-05-02. Score: 1
  
  You can add Custom Contribution fields (on a per 'Contribution Type' if necessary) hence if you need fields that show Interest Rate etc you can do this via the UI.
  
  I am unclear if you need the user\_unique\_id since the civi 'internal id' might do the required. Ditto for 'creation date' etc as these might be data that core civicrm handles anyway.
  
  > **Comments:**
  > **username_0**: Thanks for your reply, Pete. To clarify my question, the functionality not already in Civi core would at least deduct new payments from loan principle (modify Contributions to work in reverse?), calculate and add interest to principle over time, allow for payment frequency options (annual, quarterly, monthly or custom), and calculate scheduled payments to lenders based on current balance and number of months remaining in term. Also, lenders should be able to make a Loan Offer, which org must manually accept or decline. If Loan Offer accepted, lender can initiate Loan via contribution page.  
  > **username_1**: Yes I don't doubt you have some significant coding to do. Other thing to think about would be using Pledges in some way since that gives you the ability to set an amount and then chip bits off it as repayments come in - basically treat pledges in reverse?  
  > **username_1**: Oh - and to answer your question. We would be interested to work on such an extension and would be happy to provide an estimate. Can you ping me directly peter.davis at fuzion.co.nz  
  > **username_2**: We're working on a loan management system for an organisation at the moment. We've got phase 1 released, which deals with loan setups including advanced payment holiday calcs etc. If you'd like to join the project I can check with the client if they'd be happy for us to share and publish the code?  
  
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