Microfinance loan software, from group meeting to day-end closing

JLG groups and their meetings

Form joint-liability groups with a branch, field officer, meeting day, time and place. Each officer sees today's meetings, and attendance is taken at the meeting.

• Meetings generated every morning from each group's schedule
• Group loan installments fall on the group's meeting day
• Holiday and weekly-off aware schedules

Loan products, schedules and the KFS

Define products with flat or reducing-balance interest, daily, weekly or monthly repayment, fees, insurance and EMI rounding. Every loan carries its own repayment schedule from the day of disbursement.

• Key Facts Statement with APR, versioned and acknowledged
• Top-ups, renewals, restructuring, pre-closure and closures
• Guarantors, co-borrowers and collateral where needed

• Applied
• Approved
• Disbursed
• Active
• Overdue
• Closed

Collection sheets, routes and gap-free receipts

Each meeting gets a collection sheet with what every member owes. Officers record full, part or advance payments, and every payment gets a receipt number with no gaps, branch-wise per financial year.

• Oldest dues settled first, then penalties and current installments
• Protection against duplicate and back-dated entries
• Collection routes and targets for field staff

Double-entry accounts that balance

Disbursements, repayments, fees, expenses and cash movements post to the general ledger by themselves. Your accountant sees the trial balance, income statement and balance sheet without re-entering anything.

• Chart of accounts, journal entries and bank reconciliation
• Expenses and other income with approval
• Accounting periods you can close

Section 8 caps and RBI microfinance rules, configurable

Pick your entity type — Section 8 company, NBFC-MFI or other — and switch on the rules that apply to you: loan and asset-size caps, household income and repayment-to-income checks, lender limits, KFS and cooling-off.

• Grievance, nodal officer and data-protection contacts
• DPDP rights requests, breach register and data retention
• You set the policy; the software applies it the same way every time