Some states allow a payment to be made to extend the maturity date of a loan. This payment is called an extension. A loan extension follows these steps:
1.Inquire for the loan
2.Enter a "E" to designate that a extension payment is to be made
3.Accept the cash tendered and give change due
4.Print a extension receipt slip, if requested
When the loan is paid, the extension payments will be totaled and deducted from the amount due.
