Active Loans
Manage your current loans
Active Loans
The Active Loans section shows your current financing and repayment progress. Monitor your balance, view payment history, and track your repayment timeline.
Loan Overview
View your active loan details:
| Field | Description |
|---|---|
| Original Amount | Amount you received |
| Total Repayment | Total amount to repay |
| Amount Paid | How much you've repaid |
| Remaining Balance | Outstanding amount |
| Daily Rate | Percentage of daily sales |
| Start Date | When loan was funded |
Repayment Progress
Progress Bar
Visual indicator showing:
- Percentage repaid
- Amount paid vs. remaining
- Estimated completion date
Repayment Stats
| Metric | Description |
|---|---|
| Paid to date | Total amount repaid |
| Remaining | Outstanding balance |
| Avg. daily payment | Average daily deduction |
| Days active | Days since funding |
| Est. days remaining | Projected days to payoff |
Payment History
View all repayments:
| Column | Description |
|---|---|
| Date | Payment date |
| Daily Sales | Your sales that day |
| Deduction | Amount applied to loan |
| Balance | Remaining balance |
Payment Calculation
Daily payment is calculated as:
Daily Payment = Daily Net Sales × Repayment RateExample:
- Daily net sales: ₱10,000
- Repayment rate: 15%
- Daily payment: ₱1,500
Understanding Repayments
Sales-Based Repayment
Payments adjust with your sales:
| Your Sales | 10% Rate | 15% Rate |
|---|---|---|
| ₱5,000 | ₱500 | ₱750 |
| ₱10,000 | ₱1,000 | ₱1,500 |
| ₱20,000 | ₱2,000 | ₱3,000 |
| ₱0 (no sales) | ₱0 | ₱0 |
Low Sales Days
On days with low or no sales:
- No minimum payment required
- Loan term extends
- No late fees
High Sales Days
On days with high sales:
- Larger payment made
- Faster payoff
- Loan term shortens
Loan Timeline
Projected Payoff
Based on recent sales patterns:
- Estimated completion date
- Days remaining
- Comparison to original estimate
Timeline Factors
| Factor | Impact |
|---|---|
| Higher sales | Faster payoff |
| Lower sales | Slower payoff |
| Seasonal patterns | Estimate adjusts |
| Growth trends | May accelerate payoff |
Managing Your Loan
Viewing Details
Click on your loan to see:
- Complete loan agreement
- All payment history
- Detailed calculations
- Support contact
Early Payoff
Want to pay off early?
- Contact PayMongo support
- Request payoff amount
- Make lump sum payment
- Loan closes early
Note: No prepayment penalties!
Payment Issues
If payments aren't being deducted:
- Check daily sales are processing
- Verify account status
- Contact support if issues persist
Notifications
Receive updates about your loan:
| Notification | Trigger |
|---|---|
| Payment made | Daily payment processed |
| Milestone | 25%, 50%, 75% repaid |
| Near payoff | Approaching final payment |
| Paid off | Loan fully repaid |
FAQs
What if I have no sales for a period?
No payment is required on days with no sales. Your loan term simply extends.
Can I make additional payments?
Contact support to make extra payments toward your balance.
What happens when I'm paid off?
The loan closes automatically. You may receive new offers after payoff.
Feel free to reach out to [email protected] if you have questions about your active loan!
Updated about 15 hours ago