Making and Servicing Loans

Moneylender Professional simplifies managing and servicing loans . But what if your lending situation requires something a bit different? We might be able to help. Contact us and request a program modification. Josh Whitman, developer of Moneylender Professional, answered questions about handling these changes. How do you decide if it’s preferable, practical or even possible to make a change the Moneylender's program? If it’s a feature that’ll work for most Moneylender users, I’m usually on board. But if it’s only helpful for a small percentage of lenders — and would also make the program less effective or understandable for the rest of the users— I try to steer people away. How can a customer request a modification? Just call or email us . What’s the turnaround time for a request? It really depends upon the change. Some modifications take thirty minutes and are available as an update to the program in less than a day. Others take weeks or months to develop. We test a

Recording loans. Collecting payments. Tracking data. Creating statements. Businesses that handle 10 loans or 10,000 loans require many of the same functions from loan servicing software … but each lender has individual needs. When you're looking for a loan program — whether it's a new venture, or the old software isn't cutting it anymore — take time to investigate what's on the market. As you examine each product, find answers to the following questions. They'll help you choose software that's efficient and effective for you.      1. Is the software sufficient…both now and later? This is the most important yardstick. Make sure the software covers all aspects of your loans, especially if you go beyond basic lending. Essentials include: Loan types: Is the product appropriate for all your lending options? (For example, personal, business, auto, home, student, title, or payday loans) Documentation:                    - What are the format