diff --git a/CLAUDE.md b/CLAUDE.md
index 43256ae..d536b35 100644
--- a/CLAUDE.md
+++ b/CLAUDE.md
@@ -63,7 +63,7 @@ Defined at top of views.py — used in dashboard calculations and payment proces
 
 ## PayrollAdjustment Type Handling
 - **Bonus / Deduction** — standalone, require a linked Project
-- **New Loan** — creates a `Loan` record (`loan_type='loan'`); editing syncs loan amount/balance/reason; deleting cascades to Loan + unpaid repayments
+- **New Loan** — creates a `Loan` record (`loan_type='loan'`); has a "Pay Immediately" checkbox (checked by default) that auto-processes the loan (creates PayrollRecord, sends payslip to Spark, marks as paid). When unchecked, the loan sits in Pending Payments for the next pay cycle. Editing syncs loan amount/balance/reason; deleting cascades to Loan + unpaid repayments
 - **Advance Payment** — **auto-processed immediately** (never sits in Pending): creates `Loan` (`loan_type='advance'`), creates PayrollRecord, sends payslip email, and auto-creates an "Advance Repayment" for the next salary. Requires a Project (for cost tracking) and at least one unpaid work log (otherwise use New Loan).
 - **Overtime** — links to `WorkLog` via `adj.work_log` FK; managed by `price_overtime()` view
 - **Loan Repayment** — links to `Loan` (loan_type='loan') via `adj.loan` FK; loan balance changes during payment processing