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https://issues.apache.org/jira/browse/FINERACT-134?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=17951416#comment-17951416
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James Dailey commented on FINERACT-134:
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For transparency and design....
Let's expand this write-up to be more similar to a standard revolving line of
credit. Key features will need to be detailed. I think this might belong as
an FSIP (fineract significant improvement proposal) because the design will
necessitate a new component. i.e. a resolving line of credit (RLoC) is
sufficiently different from a Term Loan that we need to make sure to not
overload the current design. But, I don't see a need to vote on building a
separate component that serves new functional requirements. At a minimum,
documenting this here in case we can start to build it.
Design concepts are:
* Product configurability via API calls (standard fineract pattern)
* Product usage via API calls (standard fineract pattern)
* Interest rates, methodologies, and compound Interest
* Policies when to charge interest (scenario scope based on type of transaction
or timing of transaction)
* Fees, chargebacks, good will credit, etc - leverage existing components in
Term Loans
* Event streaming of data for integration or reporting purposes
> Add support for Revolving Line of Credit products
> -------------------------------------------------
>
> Key: FINERACT-134
> URL: https://issues.apache.org/jira/browse/FINERACT-134
> Project: Apache Fineract
> Issue Type: New Feature
> Reporter: Ed Cable
> Priority: Major
> Labels: Roadmap2022
>
> As part of the Q2 work on Flexible Loan Schedules phase 3, we should explore
> supporting a new product for a revolving line of credit.
> We have had requests from customer like the Paradigm Project for revolving
> lines of credit to purchase non-durable goods like solar cook stoves etc:
> http://www.theparadigmproject.org/
> The primary difference between a revolving and non-revolving line of credit
> is that repayments on RLOC replenish the available credit balance, becoming
> available for borrowing again. See http://goo.gl/0itVoh
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