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      Create a Loan - Closing and Term
      • 12 Jun 2023
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      Create a Loan - Closing and Term

      • Updated on 12 Jun 2023
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      Article summary


      On the Closing and Term page, you will specify the closing date and the term of the loan.  

      The Closing Date is the date that interest will start being charged. Generally, this is the date that the loan funds are received. If you have an existing loan that you are putting onto the Bryt system, this would be the date interest was paid through (i.e. the end of the prior month).

      The Term is the length of the loan in increments of weeks, months, or years. The number of payments you will be receiving for the loan.

      Update
      To accommodate end-of-month due dates, when setting a closing date of 29/30/31, you may be prompted with an extra dialog box with a question about whether or not you'll want to use the same day or end-of-month day as the due date. 



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