# Create New Transaction Page

The Create New Transaction screen allows you to create a new loan transaction.

Table 1. Features of the Create Transaction Screen
Feature | Description
--- | ---
Organization & Policy
Organization | Allows you to select the organization with which to associate the new transaction.
Template | (Coming feature)
Policy | Allows you to select a policy for the new transaction. Policies are created and configured by the financial institutions administrator.
Loan Number | Allows you to enter a loan number for the new transaction.
Loan Information
Type of Loan | Allows you to select the type of loan for the new transaction. Options are: New Modification Refinance
Loan Purpose | Allows you to select the purpose of the loan.
Construction Type | Allows you to select the type of construction loan. Select from [blank], Construction Only or Construction and Permanent Note.
Secured | Select this option if the transaction is a secured loan.
Two Phase | Select this option if the transaction is a two phase loan. A two phase loan is typically used in a construction loan for which a bank allows the borrower to pay only the interest during the building process. Another closing (the second phase) would be used to setup the payments to include principal and interest.
Multiple Advance | Select this option if the loan is distributed in multiple phases. A Multiple Advance loans allows a bank to provide the borrower with a predetermined amount of funds during each phase of a project to cover the building cost.
Amount Requested | Allows you to enter the amount reqeusted for the loan. The amount entered here populates the Amount Requested value in the Calculations Screen.

- Advance Types
  Various types of advances are available for Commercial Lending.
- Organization Type
  The Organization type selection when creating a new transaction is limited to a list of types supported by Commercial Lending.
- Policy Selection
  The policy selection is a list of available policies that have been defined within administration and are filtered based on the organization selected.

Parent topic: Create New Transaction Page