Loan forms are important sheets which help the loan company to track the analysis of a loan. It is a necessary tool in every loan business as it records the amount of money payable to the loan company on every loan given. The loan form template can take on a loan analysis worksheet whereby the amount payable by a borrower of a loan is listed in the worksheet for certain periods of years; for example, 3,5 ,7 10, 15 etc.
The loan form template header is usually divided into two (2) main columns:
The Year column is sub-divided into various columns reflecting the various years which a loan is to be settled. The template can also record the loan analysis formula column, used to compute the amount payable for each year listed.
The loan analysis column is an off-side column listing:
* Interest rate
* Years of Loan
* Loan Amount
* Payments Due
* Monthly payment
* Total Payment
* Total Interest
This small column of information is really a formula section where the monthly repayment can be computed for any loan amount and for any loan period (in terms of years).
This sheet of information is especially useful for the marketing personnel who need to advise potential clients who may wish to consider a loan based on the various years of repayment. Potential loan borrowers would be happy to see the actual repayment amount in specific years before deciding on the specific loan.
Consider the attached sample template for your convenience.