Balance rollovers
Balance rollovers take the part of the balance of a line of credit account and transfer it to a linked installment loan, either by creating a new loan or adding an advancement on an existing loan.
Depending on how you use them, balance rollovers can be the basis for countless innovative credit products, like card based BNPL, revolving credit, or low-interest repayment programs.
Logging a Balance Roll Over
To roll a balance into an installment loan, you'll first need to navigate to a line of credit account with a current balance greater than zero. (If the account hasn't made any swipes yet, there won't be any balance to roll over.)
In the top right corner of the page, click the ‘Log’ button and select ‘Balance Roll Over’.
From there, the process will differ depending on whether you want to create a new installment loan or add the balance as an advancement on an existing one.
Create a New Loan
Balance roll overs use preconfigured loan templates for the new loans they create. Before you begin, you should make sure you have a preconfigured loan that matches your needs. You'll be able to change its settings later, but we recommend streamlining the process with a preconfigured loan configured to match your product.
When you click ‘Log’ and select balance roll over, a window will pop up asking for some basic info about the roll over.
Here's an explanation of what each field does:
| Field | Description |
| Description | A text field where you can describe the reason for the roll over. |
| Apply date | When the roll over should happen. The date must be in or after the current billing cycle. |
| Add balance to existing loan | This checkbox decides whether the roll over will go to a new loan or an existing one, so make sure it's left unchecked if you’re wanting to create a new linked installment loan. |
| Buckets | All the buckets on the account will be displayed here with their current balances. To the right, you can choose how much of each bucket's balance to roll over. |
When you're done, click ‘Next’. On this second page, you'll select the preconfigured loan that the new account will use as a template.
Once you've made a selection, click ‘Finish’.
Log an Advancement
When you click ‘Log’ and select balance roll over, a window will pop up asking for some basic info about the roll over.
Here's an explanation of what each field does.
| Field | Description |
| Description | A text field where you can describe the reason for the roll over. |
| Apply date | When the roll over should happen. The date must be in or after the current billing cycle. |
| Add balance to existing loan | This checkbox decides whether the roll over will go to a new loan or an existing one, so make sure it's checked if you want to log an advancement on an existing account. |
| Advancement category | Once you've checked the ‘Add Balance to Existing Loan’ checkbox, this category drop-down will appear. These are your own custom advancement categories. |
| Buckets | All the buckets on the account will be displayed here with their current balances. To the right, you can choose how much of each bucket's balance to roll over. |
When you're done, click ‘Next’. On this second page, you'll select the loan that the advancement will be made on.
Once you've made a selection, click ‘Finish’.
Linked accounts page
Once you complete the roll over, the system will take you to the Account Settings > Account Linking page within your line of credit. The accounts you've rolled the balance into (both new loans and existing) will now be linked to the account.
With the accounts now linked, you’ll be able to split payments between them: If a borrower makes a payment on any one of their linked accounts, that amount can be split across all of them. So, instead of logging several smaller payments individually, they can save time and log one large one.
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