The commercial loan system provides a full range of features to track COMMERCIAL Line of Credit from a simple line to very complex facilities with multiple tiers, relationships, and fees. A simple line of credit may be tracked by a single multi-draw facility. The line amount, available amount, loan balance, interest owing, and assorted fees are tracked in a single record. A more complex line of credit may be established using major commitments and related commitments within the same borrower or multiple borrowing entities.
Within the system a COMMERCIAL Line of Credit may include the following functionality:
- Revolving or Non-Revolving Attributes
- Related Commitment/Parent-Sub Functionality
- Multiple Billing Options
- Availability Tracking
- Commitment Amount, In-Use Amount, and Unused Amount Reporting to General Ledger
- Automatic Over-line Billing Option