A product is a specific service that you offer your customers. For example, you may offer loans.

These types of loans are examples of specific services that you offer. In Oracle Lending, you can define a specific type of service as a product.

Defining a loans product, first of all, helps you classify the loans that you issue according to broad groups or categories. Therefore, you can easily retrieve information relating to loans of a specific category.

The other advantage is that, when building a product, you set up it up with attributes generic to loans of a particular type. All loans processed under a product acquire its attributes.

Therefore, when disbursing loans, you do not have to capture these generic details every time; loan disbursement is remarkably automated in Oracle Lending.

Apart from the general attributes that a loan acquires from a product, you have to capture some information specific to a loan, such as the loan amount, the repayment account, and so on during contract input. You can capture such information in the Loan Disbursement screens.

You can use the ELCM Block Details screen for viewing blocked funds of facility, liability, collateral.

In OBCL, when a loan is created and attached to a limit managed in ELCM, the amount financed but not disbursed must be automatically blocked on the limit. At the same time, the full funded amount should no longer be available on the limit. The amount blocked on the limit have to be unblocked automatically as and when disbursements are made.

By doing this, you can identify the amount blocked and available. It is made available both at the level of the loan and at the level of the limit to which the loan is attached. This is applicable for only OL modules and applicable only if ENABLE ELCM BLOCKING DURING BOOKING check box is selected in Loan Parameters screen. For more information about ELCM Block Details screen, refer to Loan Syndication User Manual.

• Loan Disbursement Screens