ERPNext for Saccos, Banks & Micro Finance
Easy management of Micro-Banking & SACCO Operations
Easy to Use & Robust
Affordable, Easy to Use, Robust Microfinance Software that efficiently manages Micro-Banking & SACCO Operations. With several satisfied customers we continue to offer Limitless Capabilities
Setting Up Loans
- Loan Security Type
Loan Security Type defines the type of security that can be pledged against a loan like goods or land - Loan Security
A Loan Security is the actual security that is going to be pledged against a loan - Loan Security Price
Loan Security Price is the record in which you can log the loan's security price and validity - Loan Type
A Loan Type is where you can define various loan types and their properties like rate of interest, loan account details, etc.
Loan Cycle
- Loan Application
Loan Application contains the applicant and loan security details for review - Loan Security Pledge
Loan Security Pledge contains the loan security and the quantity pledged against a loan - Loan
A Loan record is the loan account which contains all the information regarding a loan - Loan Disbursement
Once a Loan is sanctioned, the loan amount is ready to be disbursed. For that a Loan disbursement entry is created - Loan Interest Accrual
Loan Interest will be accrued monthly on the first day of every month for demand loans and one day before payment day for term loans - Loan Repayment
Loan Repayment entry is used to track repayments against loans - Loan Write Off
Loan Write Off entry is used to write off pending principal amount and close the loan - Loan Security Unpledge
Once all the loan amount is paid, a Loan Security Unpledge is created for unpledging the securities
Advanced
Process Loan Security Shortfall
Process Loan Security Shortfall record is created on loan security price update and is also used for manual processing of Loan Security Price
Process Loan Interest Accrual
Process Loan Interest Accrual record is created on every loan interest accrual cycle and is also used for manually processing loan interest accrual
Loan Security Shortfall
If loan to security value ratio falls below a specific value, a Loan Security Shortfall is automatically created for that specific loan
Digital Lending Features
- MPesa B2C integration to allow for automated disbursement of funds upon approval either by system or by credit committee.
- SMS integration to allow for automatic communication with clients for both registration, repayment due reminders as well as transaction confirmations.
- MPesa C2B integration to allow for automated posting of Mpesa receipts to customer statement for both loan repayment and charges payment.
- Data analysis modules to allow for assessment of new loan applications based on customer history
- Customer registration by group
Appraisal / Loan Processing
- Create new loans, top ups, buy offs and loan reschedules, as well as capturing of waivers and other loan adjustments.
- Other forms of loan security analysis such as default rate /timely repayment index and overall ability to pay analysis
- Reducing, flat, compound and discounted loan products with their various customizations based on specific customer requirements
- Managing application, entry and approval loan processes, allowing the user to view application and security information at each stage of loan processing and allowing negotiated rates and periods.
- Capturing of customer loan disbursement, repayments against a specific bank/cashbook account and well as capturing deductions during disbursement process
- Automated and semi-automated interest and penalty calculation as well as other loan charges
- Maintaining grace period for penalties and interest calculation per loan category/ type
- Bulk sms ,CRB, ATM and USSD integration
- Borrower blacklisting and Credit scoring
- Attach scanned transactions documents
- Auto reminders to customers on loans due and processing notifications
- Loan calculator with auto charge calculation and payment schedules
Screenshots
