Installment Loan Software

Every credit business should provide installment loans to their customers. The credit business may choose to offer consumer loans, guarantor loans or secured loans. Installment loans will be issued every day. As installment loans form a large part of most credit businesses, it is vital that a reliable loan management system is in place to ensure positive results.

What are installment loans?

Installment loans allow you to borrow a set amount of money. Unlike line of credit loans or credit cards you must decide the total amount you would like to borrow before borrowing any funds. Installment loans are paid back of a fixed period of time, typically via monthly payments but repayment schedules can vary depending on the provider.

Why choose CREDITONLINE’s Loan Management Software?

Our loan system is recognised by professionals in the financial sector as being an efficient tool to manage loans. The wide range of features our system offers allows businesses in the financial sector to save time and money whilst enhancing loan management systems and processes. Our loan management software allows you to manage all aspects of installment loans from one place.

What are the features of CREDITONLINE’s Loan Management System?

  • Generation of documents and agreements that are automatically sent to the customer.
  • Automated loan disbursement and installment distribution upon receipt.
  • Automated process of messages and reminders to customers.
  • Online communication with clients so you can constantly inform them about the loan process and terms.
  • Automatic client solvency assessment based on the evaluation algorithms set by you
  • Manage and administer recovery and trial processes.
  • Export database information from any location on the system according to your parameters.

With our system you can also:

  • Choose the loan payment method: Annuity, Linear or Bullet.
  • Administer partial or full loan payment holidays.
  • Recalculate full or partial loan repayments including interest.
  • Amend the loan repayment schedule when a loan is repaid earlier than the term deadline.
  • Operate in different currencies so no need for currency conversion.

To find out more about how our loan management software can support your business with installment loan processing and administration, please contact our team or book a free demo.

Frequently Asked Loan Management Software Questions

Can the date of payment be changed?

Yes, if you need to change the date that payments will be made due to a customer’s payday changing or any other circumstances, you can do so.

Can late payment fees automatically be added?

If a payment is missed, payment fees can automatically be added and calculated.

Does your software include a credit check?

Our sister company KYC Scoring offers live credit score checks, if you would like to find out more about this, please get in touch with our team.