Loan Management System allows you for better evaluating borrowers, decision making support and online-lending process automation. It also servicing mortgages, simple interest, revolving credit, bi-weekly, and other methods of interest calculation. Easy to use, affordable and professional loan servicing software.
Borrowers
- Only First Name and Last Name required to create borrower
- Upload picture and files if any
- Add details such as DOB, Email, Mobile, and Address
- Send SMS and Email directly to Borrower
- Auto Send SMS and Email
- Add Loans
- Unlimited Borrowers can be added
- Borrowers can login and check account
Add Loan
To add loans, you first need to add a Loan Product which is where you set interest rates and other fields.
- Add Loan Products
- Choose from Flat Interest, Reducing Balance – Equal Installments, Reducing Balance – Equal Principal, Interest-Only loans
- Released Date, Amount, Interest %, Duration, and Repayment Cycle
- Set Grace Period
- Set Penalties for late repayment and after maturity date
- Set a different Interest Start Date
- First Repayment Date and First Repayment Amount can be manually set in Add Loan
- Add Loan Fees
- Add Loan Agreement files
- Unlimited Loans
Manage Loan
- View and print Loan Statement and Collection Schedule
- Add Repayment
- View Loan Terms and Files
- Add Comments
- Edit Collection Sheet
- Override Loan Due Amount
- Filter Loans
- Send bulk SMS to borrowers on the Daily Collection Sheet or the Overdue Loans Sheets.
Collateral Register
- Add Collateral
- Manage all Collateral in a Register
Expenses
- Add Expense
- Set Expense Type
- Upload Invoices and Receipts
- Set Recurring Expenses
- View and filter Expenses based on Expense Type
Payroll
- Add Payroll for your Staff
- Automatically Generate Payslips
- Choose Payroll Templates
- Edit Template Fields
- Set Recurring Payroll
- View and filter Payroll based on Staff name
Other Income
- Add Other Income
- Set Other Income Type
- Upload Files
- Download Receipts
- Set Recurring Other Income
- View and filter Other Income based on Other Income Type
Charts
- Loan Released Chart
- Loan Collections Chart
- Balance Sheet, Net Profit, Gross Profit, Expenses, and Payroll Charts
Reports
- Collection Report and Chart
- Cash Flow and Detailed Cash Flow
- Profit Loss Statement
Users
- Add Staff and upload picture and files
- Set Staff Roles for each staff such as Cashier, Teller, Operations Manager, Collector, and Branch Manager
- Set permissions for each staff role and control what pages they can see