Change final drawdown date

Introduction

The °neo platform allows you to change the final drawdown date that is set on the revolving credit loan. The final drawdown date refers to the last date the borrower can withdraw money; after this date they only repay the loan.

Change final drawdown date

From the Loan 360° overview page of a revolving credit, by clicking on the ‘Actions’ button in the top right corner and selecting ‘Revolving terms’>‘Change final drawdown date', you can change the final drawdown date of the loan.

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Once that is selected, you will have to fill out the new final drawdown date.

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After inputting the new date, you will have to review the details on a summary page, then confirm the change.

Depending on the configuration of the ‘Change Final Drawdown Date’ process in the Configuration portal, once the changes are confirmed, they will either be implemented immediately, or an approval task will be created where a second user needs to confirm the changes. More information on the approval tasks can be found under Task management.

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The new final drawdown date of the revolving credit will be visible on the Loan 360° page under ‘Revolving credit details’.


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