Loan Tracking and Repayment Schedules

Each loan request, the group’s decision, the disbursement and every repayment are held on one record. Interest is calculated at the rate your group set, against a repayment schedule.

Share your requirements

Recorded in the meeting

The loan is decided in the meeting, and it is recorded there.

Request and decision

The record shows what the member asked for, what was agreed by the members present, and the date of the decision. All three sit together.

Disbursed against the record

The amount handed over is entered against her loan. It is not written down later from memory.

Schedule made at once

Repayment dates and interest are calculated during the meeting, at the group’s own rate.

Repayments against the schedule

A paper record is most likely to fall behind at this stage.

Each payment on its instalment

A repayment is entered against the instalment it belongs to. The balance afterwards follows from the schedule.

Slipping shows early

A member falling behind appears before the next meeting. Members see it while it can still be discussed at the meeting, and not at year end.

Interest calculated

Interest on every loan follows the rate and cycle set for your group, so nobody sits with a calculator while the rest of the meeting waits.

What the group can pull up

Three views come up at nearly every meeting.

Outstanding by member

Who owes what is shown, with overdue amounts kept apart from amounts not yet due.

Schedule per loan

The full plan for any loan can be printed for the member to keep. She takes it home.

Reminders before the date

Dues alerts go by SMS, email or in-app notice, as many days ahead as your members choose.

FAQ

Frequently asked questions

Does loan tracking approve loans on its own?

No. Your members decide who gets a loan, and the software records that decision. The schedule, interest and reminders are calculated by the module.

What interest rate does it use?

The rate your group agreed. It is entered when the group is set up, and every schedule afterwards is calculated at that rate.

What happens when a member misses a repayment?

It shows as overdue against her loan before the next meeting, and a reminder can go out. Remaining instalments stay as they were unless the group decides otherwise.

Talk to us

Tell us what you need.

Share your requirements and one of our engineers will come back to you within one business day.

What happens after you share your requirements

A senior engineer reads your answers. Nobody phones first.
Within one business day you get a written note: what we understood, what we would start with, and the questions we still have.
If it fits, a proposal follows with the order of work, what we need from you and what you receive at each step.
No call is booked and nothing is paid until you have read the note. Your details stay with us.

Start with your requirements

Seven short steps that tell us what you need. A senior engineer reads them before anyone gets in touch.