Loan Purpose

Loan purposes are used to categorize and analyze the reasons customers are applying for credit.

1. Navigate to the Loaning Module

2. Under Loaning go to Loan Purpose

3. Click the "+ New Loan Purpose" button located at the top left of the screen

1. Select the Classification Legend

   1. Industry – The broad economic sector

   2. Industry Classification – The standardized category under the selected industry

   3. Loan Purpose – The high-level reason for the loan

   4. Sub Loan Purpose – A specific use case under the loan purpose

2. Save Each Classification

3. When adding a Loan Purpose or Sub Loan Purpose, the system allows you to attach them to one or more Loan Products