With changes in the financial market and the emerging sector of startups and businesses, the government has relatively eased the process of securing the loan. Not just the government, many services and startups with no credit check loans same day policy had propped up recently, making the whole complicated process of loan acquiring relatively easy. With such an easy loan procurement arises the need for loan management apps that can manage your loans. So, we are presenting you with the Top 5 Loan management apps that you should start using immediately.
The article will first discuss the various loan management apps that you can use for your personal or organizational use to manage your loans efficiently. In the end, I will answer some of the doubts that will come up in your mind after reading this article.
Loan Management Apps have been in great demand since the rate and procurement of loans have become easy and uncomplicated. Managing loans is essential for the lenders and the bank to have a smooth loan lending and procurement experience.
Top 5 Loan Management Apps
Loan management apps are a crucial aspect of loan and financial services, which handles everything from the beginning to the end of the loan procurement process. Here are the Top 5 Loan management apps.
The first app on our list is Calyx Point. Calyx Point is significant under the loan management apps list. It is widely used by banks, mortgage lenders, credit unions, credit unions, and community banks.
The app boasts streamlining all the loan processes in a single easy and uncomplicated way using its advanced and high-end technology. Besides managing the loans, it also deals in managing and acquiring tough mortgage brokerage for its client.
It is pretty popular among lenders and small-scale organizations to manage their loans and acquire their mortgage brokerage. It has advanced technology and systems at the backend that integrate all the workflows and optimize all the processes of loan procurement, thus meeting the requirements of various customers.
Calyx Point has a 24 hrs chat support to improve its customer’s overall loan management experience. It’s available for android, ios, and web versions on devices. The app is not available for a free trial, but the plans are still relatively affordable to begin the trial.
Visit: Calyx Point
The Loan Office (Loan Management App)
The Loan Office is a web app, and it is appropriate and goes to loan management solutions for every person looking to manage their loans efficiently. This app is easy to use and offers affordable loan management solutions.
It covers a wide range of services from managing loans at primary levels to integrating your email notifications to your EMI reminders and even filling your EMI’s on your behalf; it’s like a personal loan manager assistant to its customers.
It offers account management, tracking of loan duration and calculation of interest over time, recurring and driven event email notifications management and reminders, managing the discounts, keeping a record of bank statements and notices, funding the increments, and integrating Microsoft Office many more services like this.
It is one of the highly user-friendly loan management apps. Its focus customer base is small money lenders, like home loans, car loans, education loans, etc., and small-scale business owners or loaners dealing with hard money.
It has various customer support services like 24 hrs chat services, Email/helpdesk, and Phone services. Though The Loan Office doesn’t offer a free trial, its packages start at low as $289 per month. You will not regret buying a subscription to The Loan Office; it will all be worth it.
LendingPad is a leading cloud-based mortgage and loan management solution. It is an innovative loan origination and management system designed to meet the requirements of brokers and lenders. LendingPad is an excellent choice from this loan management apps list.
This app streamlines the complex procedure of loan management by allowing real-time collaboration between brokers, borrowers, lenders, and bank services. Also, It offers a list of vendors on a real-time basis. It has an interactive UI that gives on-time updates on your loan.
LendingPad is endorsed by leading names in the financial market like AIME, NBO, etc. It is also the winner of 2019 HW’s Tech100 award. LendingPad keeps track of all documentation that is involved in the process of procuring a loan from a service.
It has various editable user fields to enhance the user’s loan management experience. It offers email and phone support. This app is available for iOS, Android, Windows, Mac, and cloud-based versions on all devices.
LendingPad is available for a free trial. You can also buy a subscription to LendingPad, depending upon your needs. It has three types of subscriptions, broker edition, lender edition, and institution edition. The broker edition is the most sought, and it starts at a minimal price of $50 per month.
Built (Loan Management App)
According to a survey by Mint, the most number of loan procurements occur in the construction finance sector. The construction sector is the most significant consumer base that all loan services and banks target, with many home loans and other construction organization-focused loan schemes and offers.
But despite being the biggest loan procurer, there isn’t a loan management service available for the construction sector. Built comes up with loan management solutions for the construction sector, addressing the gap. This app comes under one of the best loan management apps list.
Its innovative software aims to mitigate risk and maximize revenues for the construction sector. It has a dedicated and separate tab, Built Financial Toolkit, for managing billings and payments, scattering the financial burden on the constructional loan management.
Its main consumer base is firms in the construction sector and lenders with construction-specific loans. One can take a free demo to get a first hand with Built. It is available for android, iOS, Windows, Mac, Linux, and Chromebook versions on a device.
The last one on our loan management apps list is, AutoPal. Autopay is a web app with storage facilities on the cloud, and its data is backed up on the cloud. That means you can access all the details about your loan from anywhere with just an internet connection.
It has an SMS support system to notify customers of dues and other loan changes. It also manages the credit/debit card payment mechanisms and the withdrawals from the bank account.
Its primary user base is banks, schools, and more prominent organizations. It manages significant loan assets like school fees collections and loans with heavy financial value. The AutoPal is available for Mac, Windows, and Linux for a device.
What is the latest version of Calyx Point?
Calyx Point's latest version is version 10.5, which came into the market in 2021. Other than version 10.5, it also supports its previous two versions, 10.3 Service Pack 1 and 10.3 Service Pack 2. You should have a windows 10 on your system, or any latest version of the Operating system with the newest version of web browser, Google Chrome or Microsoft Edge., to support the newest version of Calyx point.
Is LendingPad a CRM?
CRM stands for Customer Relationship Manager. Yes, LendingPad also doubles up as a CRM and a loan management system app. It is a collaborative app for loan management between brokers and service providers. Most of these brokers or services that lend loans to small enterprise brokers deal with many borrowers; in that case, along with the loan management, a need for managing these borrowers also arises.
Conclusion (Loan Management Apps)
Here, we discuss the changing landscape of loans with easy procurement of loans. With this, we observe a need for the management of these loans. We, later on, discuss how crucial is loan management for smooth financial transactions. Afterward, we discuss the top 5 loan management apps and their features, subscription costs, etc.
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