You have probably lent out some cash to somebody and forgotten who they were or how much you lent out. In turn, you ended up losing. Lending out money requires you to be good at record keeping. This helps you keep track of your debtors, how much they owe you and when they will pay back. For a long time now, people have used excel sheets for loans’ record keeping. This has proven to be tedious can be tedious and annoying.
Loan Book is a product by Jisort System designed for lenders to make their operations more convenient for them . It is easy to use, and more convenient than the excel sheets or that “debts notebook.’ It is a simple lending app that can be used by small and medium lenders such as individuals, microfinance institutions and table banking (chamas).
Its simplicity in features makes it much easy to use even for one who is not tech savvy.
Among the features present in LoanBook are;
- Client Sign up
Once you download and set up your account, you can go ahead to create accounts for your clients. Each of your clients will have their own account making it easy for you to track them and their loan history. All you need from them are basic details such as their name, ID number and phone number.
- Get Reports of active loans
After set up, they can apply for loans which you can approve and disburse. You can get reports on the pending, active and/or complete loans by just a few clicks.
- Calculate the loan interest and repayment schedule
Through the App, you can easily calculate the loan interest and the loan repayment schedule for your client. This helps you and them in planning/budgeting.
- Generate client loan statements
It is possible for you to view and print out a client’s loan statement with ease.
You do not need to worry when your machine breaks down or you when you have no access to it. You can log in to the app using a different machine and go about your business with ease. Anywhere, anytime, the Loan Book is with you.