Accrued interest |
Interest that has accumulated but not yet due as of the end of the stated period.
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Active loan |
Loans that are currently outstanding and not paid off |
Alliance ID |
The unique identifier assigned by the retailer for each customer. |
Annual interest rate |
Rate of return, expressed as a percentage of principal, charged on borrowed money for a specified term. |
Approval expiry date |
The date that the approval of a particular application ends. |
Available Credit |
The amount of credit remaining for a revolving loan or credit line. |
Borrower |
A company or individual responsible for repayment of the loan. |
Capitalization |
The conversion of past due, accrued interest or unpaid fees into principal, resulting in an increase in the principal amount of a loan. |
Close loan |
Loans that have been fully paid and have been closed within the past 18 months. |
Closing outstanding balance |
The amount remaining at the end of a period. |
Credit |
The total of all amounts subtracted from the opening balance during the stated period. |
Credit limit |
The maximum amount of credit approved for a revolving loan or credit line. |
Crop year(s) |
Represents one full cycle of crop production. |
Debit |
An amount recording a sum owed. |
Description |
Describes the activity on your loan. |
Disbursement |
Funds advanced from a borrower(s) available credit.
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Due Date |
The date on which payment must be paid. |
Effective date |
The date the transaction impacts the loan. |
End of amortization |
The date the loan is to be fully repaid based on your current repayment schedule. |
Fees |
Fees are payments made in exchange for services.
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Guarantor |
Any company(s) or individual(s) who guarantee to repay a loan in the event that the borrower defaults. |
Insurance premium(s) |
The amount of money paid for an insurance policy. |
Interest |
The charge for borrowing money. |
Interest rate on past due |
The rate charged on past due amounts. |
Issue date |
The date the statement was prepared. |
Loan rate history |
A summary of past lending interest rates for a defined period on a loan. |
Maturity date |
The last day of the term for a loan agreement. The loan should either be paid in full or renewed for a new term by this date. |
Next payment due |
The amount needed to pay back at the next predetermined interval, including past due. |
Nickname |
A name that easily identifies/personalizes your loan. |
Opening outstanding balance |
The amount brought forward at the beginning of a period. |
Original loan amount |
The amount approved on the loan agreement. |
Outstanding balance |
The total principal owing on a credit/loan agreement plus any past due items, but excluding interest on past due and accrued interest. |
Paid amounts |
The amount paid (includes principal, interest, fees and insurance premiums). |
Parties to the loan |
Any person(s) responsible for repaying the loan. |
Past due |
Loan payment(s) not made as of their due date, including any interest charged on the missed payment(s). |
Payment due date |
The date on which payment must be paid. |
Payment frequency |
The term for how often payment is made. |
Posted date |
The date the transaction is processed to the account. This is not necessarily the date for which the transaction is effective. |
Principal Paid |
The portion of the payment that reduces the amount of principal owed. |
Principal balance |
The amount borrowed or still owed, excluding interest. |
Remaining amortization |
The time (shown in years and months) remaining to payout your loan. |
Total Payments |
The amount paid (including principal, interest, fees and insurance premiums). |
Total Year to Date (YTD) Paid |
The sum of all payments for the customer's fiscal year. |
Transfer |
Transaction describing a movement of funds. |
Unapplied funds |
Funds held temporarily when a borrower's payment is more than their required payment. |