NetLoan - Loan Term Adjustments

Loan Term Adjustments

Purpose: Throughout the duration of the loan there might be instances in which a change in the loan term would affect the loan schedule.  NetLoan makes this process easy and will automatically update the loan schedule going forward using the newly input loan term.

Prerequisites: Loan term modifications must be entered in NetLoan prior to month-end amortization.

Step-By-Step Process

  • If viewing the loan record for a commenced loan, you will be able to select the Modify button at the top above the Primary Information section.

  • Otherwise, navigate to NetLoan > Loan Management > Modification Register > New.


  • Make sure the correct Loan is selected and the modification type is set to Adjust Loan Terms in the Primary Information section of the modification proposal record.

  • (Optional) If you would like the modification proposal to be created with the Approved status you will want to make sure that is selected in the Status dropdown.

  • You can then either adjust the Loan Term, Remaining Loan Term, or Maturity Date fields in the After Modification section to extend or shrink the loan term as desired. Save the modification proposal when finished.


  • On the saved modification proposal record a Modify Loan button will appear which you will then select. A warning box will appear asking you whether you are sure you want to modify the loan. Select OK to proceed.

  • You will be redirected to the loan record for the loan you just modified. Select the Refresh button until the refresh button disappears. Once it is no longer visible the Maturity Date field, Loan Term field, and Loan Schedule should reflect the newly made changes to the loan term.

  • You will also be able to see the modification on the Modification Register by navigating to NetLoan > Loan Management > Modification Register.


  • If a modification was entered in error, you can select the Reverse Modification button that is located at the top of the loan record. This will reverse the modification you just made. Check out our Modification Reversal article for more information. Note: If the amortization entries for that month have been run you will no longer have the option to reverse the modification.

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