To release additional funds for a Draw on a Non-Dutch loan, simply take the following actions within the Funding tab of your loan:
1. Check off the investor(s) funding the draw.
2. Click Release Funds.
3. Select the Method of funding.
4. Select or type the date that the release will be Sent.
5. Enter the Release Amount into the Source / Investors box.
6. Ensure that the same amount is populated in the Distribution / Borrower box.
*7. Add a Note with any helpful details, such as the purpose of this Funding transaction.
8. Select Release Funds.
*Adding a Note is Optional.
After releasing these additional funds, the Amortization Schedule will be updated to reflect this change, and interest will begin to accrue on the updated Principal Balance of the loan as of the Release date.
š” Note:
If releasing a draw within the Payments tab of a loan, be sure to select Funding as the Payment Type.