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General. When a loan is closed, you can choose to archive it. It is intended that you will archive loans only after you decide that they will no longer be serviced. LoanPro’s back-end processes don’t…
Updated 4 days ago by Cole
General. Most of the process in closing a loan will consist of policies and procedures that your company has put in place. The purpose of this article is to go over the basic processes and possibilit…
Updated 2 weeks ago by Cole
General. There are several loan types, most of which fall into the available categories offered by LoanPro. They are: Credit Limit, Flooring, Installment, and Lease. This article gives a description…
Overview. Customers may apply for a loan through an application on your company's website. Applications may also be filled out through the LoanPro interface, but customers will not have access to the…
Updated 2 weeks ago by Jed
General. The desired outcome for a loan is that the borrower will pay it off. This article covers paying off a loan in LoanPro. There are many scenarios where the loan will not be paid off in the tra…
Updated 2 weeks ago by Sloan
General. It is possible to delete unwanted loans from LoanPro. Before doing this, verify that you truly don't want the loan or any of it's associated information. How To. To delete a loan, first find…
Updated 3 weeks ago by Sloan
General. When you fund a loan, you can either loan money in the form of cash or check to the customer. You can also fund the customer electronically. You may also want to fund advancements after givi…
General. The Summary tab inside a loan is designed to give you a quick overview of the loan data. This article will go over the data available to you on the Summary tab. You do have the option to cus…
Updated 1 month ago by Sloan
General. LoanPro allows you to quickly and easily add notes about a loan. Notes can help you keep track of interactions with your borrowers concerning the loan and any other information that might be…
General. The Setup Terms area of the Account Setup tab is the place to go to enter the terms of a loan and to configure how it will accrue interest, calculate escrow, and generally define what the lo…
General. This section of a loan lets you control all loan settings that don’t directly affect how the loan is calculated. This article will cover updating the settings as well as give relevant inform…
General. Creating a new loan correctly is very important. It’s also important to understand all the loan settings available so that the loan you create will perform the way you expect it to. The most…
General. Advancements and credits directly affect the principal balance on a loan. You may log an advancement or credit if you are giving more money to the customer and are adding the amount to the e…
General. Amount and days past due are the numbers that are used to calculate delinquency. Amount past due is calculated as the total amount to come due to date minus the total amount paid (excluding…
Updated 5 months ago by Sloan
General. Many types of loans, such as payday loans, get renewed on a regular basis. To help renew loans quickly and easily, LoanPro Software has a renewal process. This process steps you through the…
Updated 5 months ago by Cole
General. It may be necessary, over the course of a loan, to stop and start the accrual of interest. Even if it isn’t mandatory, you may want to use this tool to incentivize your customers. Note: This…
General. To help customers make business decisions, it is helpful to compare some of the options inside LoanPro. This article will list a matrix for each set of options to help you make decisions whe…
Updated 6 months ago by Sloan
General. LoanPro offers a loan type called Credit Limit. This is a closed-ended installment loan with the additional component of a lender-specified, maximum dollar-amount limit, that the borrower ma…
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Updated 2 weeks ago
by Cole
