diff --git a/fineract-provider/src/main/java/org/apache/fineract/portfolio/loanaccount/service/LoanApplicationWritePlatformServiceJpaRepositoryImpl.java b/fineract-provider/src/main/java/org/apache/fineract/portfolio/loanaccount/service/LoanApplicationWritePlatformServiceJpaRepositoryImpl.java
index 9ea6d5e4eb8..bce78bd949c 100644
--- a/fineract-provider/src/main/java/org/apache/fineract/portfolio/loanaccount/service/LoanApplicationWritePlatformServiceJpaRepositoryImpl.java
+++ b/fineract-provider/src/main/java/org/apache/fineract/portfolio/loanaccount/service/LoanApplicationWritePlatformServiceJpaRepositoryImpl.java
@@ -32,6 +32,7 @@
 import java.util.List;
 import java.util.Locale;
 import java.util.Map;
+import java.util.Objects;
 import java.util.Set;
 import javax.persistence.PersistenceException;
 import org.apache.commons.lang3.ObjectUtils;
@@ -157,6 +158,7 @@
 import org.apache.fineract.portfolio.loanproduct.LoanProductConstants;
 import org.apache.fineract.portfolio.loanproduct.data.LoanProductData;
 import org.apache.fineract.portfolio.loanproduct.domain.LoanProduct;
+import org.apache.fineract.portfolio.loanproduct.domain.LoanProductOwnerType;
 import org.apache.fineract.portfolio.loanproduct.domain.LoanProductRelatedDetail;
 import org.apache.fineract.portfolio.loanproduct.domain.LoanProductRepository;
 import org.apache.fineract.portfolio.loanproduct.domain.LoanTransactionProcessingStrategy;
@@ -2649,7 +2651,12 @@ public CommandProcessingResult approveApplication(final Long loanId, final JsonC
                     calendar = calendarInstance.getCalendar();
                 }
 
-                LocalDate deriveFirstRepaymentDate = loanScheduleAssembler.deriveFirstRepaymentDate(loan, expectedDisbursementDate, calendar);
+                LocalDate deriveFirstRepaymentDate;
+                if (loan.getExpectedFirstRepaymentOnDate() != null && Objects.equals(loan.getLoanProduct().getOwnerType(), LoanProductOwnerType.INDIVIDUAL.getValue())) {
+                    deriveFirstRepaymentDate = loan.getExpectedFirstRepaymentOnDate();
+                } else {
+                    deriveFirstRepaymentDate = loanScheduleAssembler.deriveFirstRepaymentDate(loan, expectedDisbursementDate, calendar);
+                }
                 loan.setExpectedFirstRepaymentOnDate(deriveFirstRepaymentDate);
             }
 
diff --git a/fineract-provider/src/main/java/org/apache/fineract/portfolio/loanaccount/service/LoanWritePlatformServiceJpaRepositoryImpl.java b/fineract-provider/src/main/java/org/apache/fineract/portfolio/loanaccount/service/LoanWritePlatformServiceJpaRepositoryImpl.java
index fec57f97651..672ae3e9424 100644
--- a/fineract-provider/src/main/java/org/apache/fineract/portfolio/loanaccount/service/LoanWritePlatformServiceJpaRepositoryImpl.java
+++ b/fineract-provider/src/main/java/org/apache/fineract/portfolio/loanaccount/service/LoanWritePlatformServiceJpaRepositoryImpl.java
@@ -42,6 +42,7 @@
 import java.util.List;
 import java.util.Locale;
 import java.util.Map;
+import java.util.Objects;
 import java.util.Set;
 import lombok.RequiredArgsConstructor;
 import lombok.extern.slf4j.Slf4j;
@@ -226,6 +227,7 @@
 import org.apache.fineract.portfolio.loanaccount.serialization.LoanUpdateCommandFromApiJsonDeserializer;
 import org.apache.fineract.portfolio.loanproduct.data.LoanOverdueDTO;
 import org.apache.fineract.portfolio.loanproduct.domain.LoanProduct;
+import org.apache.fineract.portfolio.loanproduct.domain.LoanProductOwnerType;
 import org.apache.fineract.portfolio.loanproduct.exception.InvalidCurrencyException;
 import org.apache.fineract.portfolio.loanproduct.exception.LinkedAccountRequiredException;
 import org.apache.fineract.portfolio.note.domain.Note;
@@ -406,7 +408,12 @@ public CommandProcessingResult disburseLoan(final Long loanId, final JsonCommand
                 CalendarEntityType.LOANS.getValue());
         Calendar calendar = calendarInstance!=null? calendarInstance.getCalendar():null;
 
-        LocalDate deriveFirstRepaymentDate = loanScheduleAssembler.deriveFirstRepaymentDate(loan, actualDisbursementDate, calendar);
+        LocalDate deriveFirstRepaymentDate;
+        if (loan.getExpectedFirstRepaymentOnDate() != null && Objects.equals(loan.getLoanProduct().getOwnerType(), LoanProductOwnerType.INDIVIDUAL.getValue())) {
+            deriveFirstRepaymentDate = loan.getExpectedFirstRepaymentOnDate();
+        } else {
+            deriveFirstRepaymentDate = loanScheduleAssembler.deriveFirstRepaymentDate(loan, actualDisbursementDate, calendar);
+        }
         loan.setExpectedFirstRepaymentOnDate(deriveFirstRepaymentDate);
 
         ScheduleGeneratorDTO scheduleGeneratorDTO = this.loanUtilService.buildScheduleGeneratorDTO(loan, recalculateFrom);