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Principal Paydown

Learn how to paydown the principal of a loan in Bravo.

Last Updated: 5/16/2025

If you have a customer who wants to pay down the principal on a loan, this can be done with Partial Payments if you have this feature set up or using the Renewal method. This article will walk you through these processes.

Select one of the links to the desired topic:

- Principal Pay-down with a Renewal

- Principal Pay-down with Partial Payments

 

Principal pay-down with a Renewal

  • To change the Principal balance of the Loan, begin by bringing up the Loan and starting a Renewal.
  • While on the Transactions screen click on the Edit button.
  • On the Pawn Renewal Detail window, select Change Principal.
  • Here, you can either increase or decrease the principal of the loan. 
  • If you are lending more to the customer, enter a positive number. 
  • If the customer is paying toward their principal, enter a negative number.
  • Once you made the desired principal adjustments, click Ok.
  • The change is reflected in the transaction line Description stating, "decreasing principle to $(new principle amount)". 
  • Click Next to continue and finalize the transaction. 

To watch a video on How to Make a Principal Payment, click here.

 

Principal Pay-down with Partial Payments

If Partial Payments is part of your store set up, you can also lower a loan's principal with it.

  • To change the Principal balance of the Loan, begin by bringing up the Loan.
  • The Transactions screen right side menu will highlight some other pay options available for the loan that the store is set up with. 
  • Selecting Partial Payment will bring up the Partial Payment window.
  • A payment amount over the Minimum payment to extend the loan, will be applied towards the Principal.
  • Click Ok and then Next to finalize the transaction.

You can read about Partial Payments in this article, Loan Extensions vs. Partial Payments.