TRACK THE COMPLETE LIFE CYCLE OF A LOAN

Money Out allows you to track the complete life cycle of a loan right from the first inquiry of a prospective client to the final payment of the loan. You can track the history of a loan, terms and conditions, trainees involved, withdrawals, and repayments along with date information.

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UNLIMITED PROJECTS AND LOANS FOR EVERY CLIENT

A client can have virtually unlimited projects and every project can have multiple loans associated. Through the friendly interface you can view the summary of all projects and also review specific loan information with the click of a few buttons. For example a client can have three loans for a business expansion project and one loan for a housing project. Money Out displays information on all four loans of this client and allows you to select a loan for further review.

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CHANGE TERMS (RATE, STRUCTURE, ETC.) ON A MONTHLY BASIS

Exceptional flexibility is the unique selling point of Money Out. You can change the terms (interest rate, repayment date, late fee calculations, etc.) of a loan on a monthly basis. This flexibility is achieved by Money Out's ability to generate comprehensive Excel Spreadsheets for every loan based on the loan information provided in the database. The spreadsheet offers you a well known interface to make changes for loans and save the changes back to the database. You can have multiple spreadsheet models based on the loan structures of your organization. Amortized loans, balloon loans, and line of credit (LOC) are some of the types of loan structures included in the system.

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TRACK PAYMENTS AND LATE FEES

You can customize the module for the calculation of late fees by defining the courtesy period and late fee % or flat fee. All installments are tracked along with actual dollars paid, payment date, check number, principle portion of the payment, etc. A summary box is provided for a quick glance on the payment history and net balance of a loan.

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CREATE AND TRACK LOAN DOCUMENTS

Built in document generator creates necessary loan documents (agreement forms, release letter, mortgage deeds, etc.) with the click of a few buttons. You can customize the format of these documents with your own templates. You can also track all the documents you collected from the client (various third party documents, asset documents, etc.) for a loan and create a ticker list.

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GENERATE LOAN STATEMENTS AND INVOICES

Generating loan statements and invoices for clients is a matter of few button clicks. You can generate invoices on payments due for the month with your customized format and also create a mailing label for the client. You can auto hide selected columns of the statements (breakdown of principle and interest) to reduce confusion for the client.

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