A loan book where the arithmetic is never done by hand.

The problem

Lending books that live on spreadsheets fail quietly. Interest is computed by hand and rounded differently each month. A penalty gets missed. A payment is posted against the wrong loan, and nobody notices until the borrower disputes the balance.

Worst of all, the number you actually need to run a lending business, which accounts are at risk right now, is the one a spreadsheet cannot tell you.

What the system does

• Loan origination with principal, rate and term.
• Amortization schedule generated the moment a loan is created.
• Every payment recomputes balance, accrued interest and penalties by one rule, in one place.
• Aging buckets at 1 to 30, 31 to 60, 61 to 90 and over 90 days past due.
• A collections queue with promise to pay tracking and a contact log per account.
• Borrower statements and portfolio reports on demand.

How it works

1. 1A loan is created with its terms: principal, rate and repayment period.
2. 2The full repayment schedule is generated up front, every due date and every amount.
3. 3When a payment is posted it settles penalties, then interest, then principal, and the balance is recomputed.
4. 4Anything past due lands in the collections queue with its penalty math shown.
5. 5Promises to pay are logged with dates and tracked as kept or broken.
6. 6The portfolio view rolls the whole book up so risk is a number, not a hunch.

Why we built it

Financing companies kept asking us what their loan book should look like. Instead of describing it, we built it. This concept is the starting point we shape to each lender's actual rules.

Industry

Finance and lending

Interest model

Flat add on with configurable penalty rules

Notable

Balance, interest and penalties recomputed on every payment