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What does it mean to archive a loan?

Loan archiving refers to loan file management.

Specifically, it means that after each loan is processed, the credit handler should regularly sort out the collected materials. The original and copy of the contract should be handed over to the file administrator and the dedicated person of the credit department for safekeeping. After the loan principal and interest are recovered, Afterwards, all files will be archived and handed over to the archivist for safekeeping.