The Loan Office is both cloud-based and on-premise loan servicing solution for institutions of all sizes. Some of its features include loan management, accounting, reporting and forecasting.The solution is compatible with Windows and Mac OS.
The Loanbook is a simple cloud based solution designed for small and medium lenders. It’s simplicity allows users to manage their clients and loans with the much needed ease. It is compatible with Windows and Linux.
Among the similarities between The Loan Office and Loanbook are;
- Free Demo – both solutions offer one a free demo. This gives potential users an opportunity to test the solution before they can make the final decision
- Support – in the event that you want any assistance, this is possible through; email, the knowledge base or phone.
- Users – Both were designed to service the needs of the small lender
- Cloud Based Solutions
However, the two have their distinct differences in that;
- Loanbook is free for the first user, while the subscription fee for the consecutive users is affordable. There is a Starting fee for one to start using The Loan Office.
- Training – Loanbook is straightforward and easy to use after download. However, you would need training to use The Loan Office.
- Features – Loanbook features include client management, loan management and collection. On the other hand, the Loan Office has additional features such as collateral tracking, different loan products and forecasting.