Line of Credit Software

The line of credit lending process is much more complex than that of simple lending. CREDITONLINE’s line of credit software is a reliable and efficient software solution that allows for an easy loan issuance and administration process.

What is line of credit lending?

Line of credit is a permanent way of financing working capital. The bank or financial institution sets a borrowing limit and the company (client) can borrow up to this limit at its convenience. The advantage of line of credit loans compared to simple loan issuance is that the borrower saves time as the financial institution doesn’t have to constantly assess the risk of the loan repayment or interest repayments.

Why choose CREDITONLINE’s line of credit software?

Our software solution has been developed to make the complex process of administering the line of credit process simple and easy. CREDITONLINE’s solution is completely customisable and allows you to create a software solution that suits your needs. There are a wide range of features and functions that can be added to make the management process as efficient as possible for you and your team.

What are the features of CREDITONLINE’s line of credit software?

There are a range of features available to improve the efficiency of your line of credit process. Some of these include:

  • Ability to choose the salary day suitable for your client.
  • Debt balance control.
  • Transparent credit line balance as the interest that the customer has already paid and the interest accrued for the current period is displayed.
  • Ability to automatically debit the accrued interest from the client’s bank account.
  • Option to utilise our line of credit API to broadcast all information direct to the client’s office.

As well as these great benefits, there are many more! Some additional benefits include:

  • Ability for automatic generation and distribution of documents that can be sent to the customer automatically.
  • Automated loan distribution upon receipt.
  • Automated process of sending messages and reminders to the customer.
  • Online communication with clients to keep them informed constantly about loan processes and terms.
  • Automatic client solvency assessment based on evaluation algorithms set by you and your team.
  • Ability to manage and administer the recovery and trial process.
  • Ability to export database information based on your defined track and export table parameters.

If you would like to find out more about our line of credit solutions that are recognised by financial sector professionals then please contact our team or book a free demo for further information.

Frequently Asked Line of Credit Software Questions

What is a line of credit?

A line of credit is an account that allows you to borrow money when you require it up to a pre-agreed amount. Lines of credit are also sometimes referred to as bank lines or personal lines of credit.

How does your line of credit software work?

Our line of credit works exactly like a credit card in the banking sector. It also has the flexibility to be configured in multiple ways and serves as a foundation for more interesting innovations for our clients.

Who can use your line of credit software?

Line of credit as a product can be used by legal or natural persons for any purpose when they need quick access to little amounts of money. The loan can be provided by any company that holds a lending license.