NetLoan — Set Up an Evergreen Loan Type
Overview
Evergreen configuration lets a line of credit continue indefinitely instead of carrying a fixed maturity date. Enabling Evergreen on a Loan Type removes the maturity date/loan term requirement from every loan of that type, locks the schedule calculation method, and keeps a fully paid-down loan Commenced rather than moving it to Fully Amortized. It applies to both Dynamic and Fixed Installment schedule loans, though the two behave differently once the balance runs to zero or the schedule runs out — Fixed Installment loans get an automatic renewal mechanism so the schedule never ends on its own.
Prerequisites
- Line of Credit must be enabled on the NetSuite account. The Evergreen checkbox only appears on the Loan Type when this is on.
- A NetSuite role with edit access to the Loan Type record.
- This is implementation-time configuration — set it once per Loan Type, not per loan.
Setup Options
Loan Type Record
Navigation
- Top navigation: NetLoan > NetLoan Setup > Loan Types
| Field Name | Field Type | Description | Dependencies | Options / Example | Field ID |
|---|---|---|---|---|---|
| Evergreen | Checkbox | Marks every loan created from this Loan Type as evergreen — no fixed maturity date. Drives the automatic behavior below. | Only visible when Line of Credit is enabled on the account. | Checked | custrecord_da_type_evergreen |
| Default Renewal Term | Integer | The number of months the schedule is extended by each time an evergreen Fixed Installment loan renews. Every loan created from this Loan Type sources this same value — it's shown read-only on the Loan record's Evergreen subtab and cannot be overridden per loan. | Only used when Evergreen is checked. | 6 | custrecord_da_type_eg_default_term |
| Default Initial Schedule Calculation Type | Select | Determines how the amortization schedule is calculated. Forced to Default and grayed out once Evergreen is checked. | Auto-set and disabled when Evergreen is checked. | Default | custrecord_da_type_calculation_type |
| Fee Amortization Method | Select | Determines how origination fees and discounts/premiums are amortized over the loan term. Disabled and cleared to blank once Evergreen is checked, since there is no fixed term to amortize against. | Disabled and cleared automatically when Evergreen is checked. | (blank) | custrecord_da_type_fee_amort_method |
| Stay Commenced When Fully Paid | Checkbox | Keeps a loan at Commenced status when its balance reaches zero, instead of automatically moving it to Fully Amortized. Auto-checked when Evergreen is checked, since an evergreen loan paying down to $0 should stay open rather than close out. | Auto-checked when Evergreen is checked. | Checked | custrecord_da_type_stay_commenced |
Loan Record
These fields/behaviors appear on individual loans created from an Evergreen Loan Type. The Evergreen, Default Renewal Term, and Renewal Date fields live on the loan's Evergreen subtab, found under the Management subtab.
| Field Name | Field Type | Description | Dependencies | Options / Example | Field ID |
|---|---|---|---|---|---|
| Maturity Date | Date | Disabled and not required on loans of an Evergreen Loan Type, since evergreen loans have no fixed end date. | Disabled automatically when the loan's Type is Evergreen. | N/A (disabled) | custrecord_da_loan_maturity_date |
| Loan Term | Integer | Disabled and not required for the same reason as Maturity Date. | Disabled automatically when the loan's Type is Evergreen. | N/A (disabled) | custrecord_da_loan_term |
| Schedule Calculation Type | Select | Disabled and forced to Default at the loan level, matching the Loan Type. | Inherits from Loan Type when Evergreen. | Default | custrecord_da_loan_calculation_type |
| Evergreen (Evergreen subtab) | Checkbox | Read-only indicator sourced directly from the Loan Type — shows whether this loan is enabled as evergreen. | Sourced from Loan Type; not independently editable on the loan. | Checked | custrecord_da_loan_evergreen |
| Default Renewal Term (Evergreen subtab) | Integer | Read-only display of the Loan Type's Default Renewal Term. Sourced in from the Loan Type — it does not store its own value and cannot be overridden on the loan. | Fixed Installment, Evergreen loans only. | 6 | custrecord_da_loan_renewal_term |
| Renewal Date (Evergreen subtab) | Date | System-maintained date marking when the schedule was last (or will next need to be) extended. | Fixed Installment, Evergreen loans only; maintained by the system. | Read-only | custrecord_da_loan_renewal_date |
Use Case Specific Setup
Use Case: Dynamic Schedule Line of Credit
For a revolving line of credit on a Dynamic schedule type:
| Field | Setting | Notes |
|---|---|---|
| Evergreen (Loan Type) | Checked | Removes the maturity date requirement. |
| Schedule Calculation Type | Default (auto-set) | No action needed — set automatically. |
| Auto-Renewal (Evergreen subtab) | Not applicable | Dynamic schedule loans don't use the Fixed Installment renewal mechanism — the schedule simply builds as normal with no final maturity-payment adjustment. |
No further configuration is needed. The schedule generates the same way it would for a non-evergreen Dynamic loan; the only difference is there's no special handling for a final maturity payment.
Use Case: Fixed Installment Line of Credit with Auto-Renewal
For a Fixed Installment loan that should keep extending on its own (for example, an intercompany revolving loan with no planned end date):
| Field | Setting | Notes |
|---|---|---|
| Evergreen (Loan Type) | Checked | Turns on automatic schedule extension for Fixed Installment loans. |
| Default Renewal Term (Loan Type) | e.g., 6 | Number of months added to the schedule each time it renews. This is set once on the Loan Type — every loan of that type sources the same value and shows it on the Evergreen subtab. |
Once configured, a nightly scheduled job checks every Commenced, evergreen Fixed Installment loan. Whenever a loan's last generated schedule line reaches today's date, the job extends the schedule by the Default Renewal Term (or 24 months if the Loan Type has no term configured) — measuring forward from the last schedule line's end date, or from the origination date if no schedule lines exist yet. If the schedule already extends past that horizon, nothing happens until it runs low again. This keeps the schedule generated 12–24+ months ahead at all times without manual intervention, and it continues until the loan is closed out by a payment, write-off, or refund.
