A sophisticated and flexible loan management system is provided to help you track and manage loans to your locations.
Multiple loans can be tracked for each location. Each loan is independent of all others. Loans may be interest-bearing or interest-free, with the system performing all interest calculations.
A number of flexible options for loan repayment are available: fixed total payments, fixed principal payments plus interest, variable payment based on percentage of commissions, payments that result in fixed balances, etc. Payment schedules include per-collection, weekly, biweekly, monthly, or no preset payment schedule at all.
Print loan schedules, activity statements, and payment due notices. Loan management screens provide current-year and lifetime detail at-a-glance for each loan, including advances, principal payments, and interest payments.
The loan system is fully integrated with the CheckRiter program for automatic deduction of loan payments from commission checks.