Purchasing a Membership With Loan Payments

Here are the steps for purchasing a membership that allows loan payments on the initiation fee.

1. Membership Type 

• Navigate to Functions -> Memberships -> Types.
• Click the Search button to bring up all of your Active membership types.
• Click the Edit link next to the membership that allows loans.
• To the right of the Initiation field, check the box to allow financing.

2. Purchase the Membership

* NOTE - If financing a membership, the membership cannot be purchased when you add the user. You must add the Member details and save the form, without purchasing a membership. When the member has been added to the system, purchase the membership.

• Navigate to Functions -> Purchase Membership.
• Enter the last name of the member and Search.
• Click on the appropriate Product Category.
• Select the membership for purchase.
• Click the link 'Apply for Loan'.

* NOTE - Directly under this link is a checkbox to waive the tax on the initiation fee. Check this box when waiving the taxes. This will waive the taxes on the initiation fee only.

• Enter the amount to be financed.
• The interest amount and the number of payments defaults based on the figures entered in your System Settings. Both fields are editable, so you can change them on demand.
• Click Calculate.

Shape will calculate the amount owed over 12 months.

• If you are satisfied, click 'Confirm and Continue'. 
• You will be taken back to the purchase screen where you can complete the purchase of the membership.

The loan payments will be given the same due date as the membership's dues.