Managing your loan offerings efficiently is key to running a responsive and risk-aware digital lending operation. In Lendsqr, loan products are created in an inactive state by default, giving you full control over when they become available to customers.
Whether you’re preparing a new loan product for launch or need to temporarily pause an existing one, the activate/deactivate feature ensures you can do this quickly and without code changes or developer intervention.
In this guide, you’ll learn how to activate or deactivate a loan product in a few easy steps, and why this feature is important to your loan lifecycle management.
Read further: What are loan products?
Why you might want to activate or deactivate a loan product
Activating and deactivating loan products gives lenders flexibility in how and when their financial products go to market. Here are some scenarios where this feature comes in handy:
Use Case Example
- New Product Launch
Your team has just created a new SME loan product with custom interest and tenor options. Before making it available to customers, you want to finalize internal testing. Keep it deactivated until testing is complete, then activate it once you’re ready to go live. - Temporary Product Suspension
You notice a spike in defaults on a particular loan product due to market conditions. Deactivate it temporarily to prevent new disbursements while your credit team reviews and updates its parameters. - Promotional Campaigns
You may want to activate a specific loan product only during a promotional period or festive season and then deactivate it afterward.
Further reading: How to sell your Loan Products
How to activate or deactivate a loan product on Lendsqr
Follow these steps to manage your loan product’s status:
- Navigate to the Product Management tab from the main dashboard.
- Click on “Loan Products” to view the list of all loan products that have been created.
- On the loan products table, click on the row of the product you want to activate or deactivate. This will take you to the loan product’s detail page.
- On the loan product detail page, look for the “Activate/Deactivate” button.
- Click the button to toggle the loan product’s status:
- If it is currently deactivated, clicking will activate it.
- If it is currently active, clicking will deactivate it.
- Confirm your action when prompted, and you’re done.
Note: Deactivated products will no longer be available for new disbursements, but existing loans already disbursed under that product will remain unaffected.
Best Practices
- Review settings carefully before activating a new loan product—ensure your interest rates, fees, tenors, and eligibility rules are correctly configured.
- Communicate changes to your support and sales teams so they are aware of what products are live.
- Deactivate legacy products that are no longer in use to keep your product catalog clean and reduce errors during loan setup.