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Loan Module
TEA's Loan module offers many different financing types: term, line of credit, guarantee, equity, leasing etc..
The loan module has an extensive list of features including:
- Complete historical loan particulars tracking including term, amortization, interest rate, compounding period and other applicable loan parameters
- Multiple loan funds support
- Cash, post-dated cheque and automatic bank debit payment support
- Daily Transaction Processing (scheduled payments) listing with auto-post feature
- Simple, compounded and mortgage interest support
- Support for 360 d/yr, 365 d/yr, and actual d/yr interest calculation methods
- Powerful, flexible and user-friendly loan transaction entry
- Extensive collateral analysis module
- Exporting of loan transactions to popular accounting software including Simply Accounting, Quickbooks, AccPac, MIP and Peachtree
Additional features provide you with the ability to:
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Support customized rate tables for automatic calculation and administration of life and disability insurance
- Enter seasonal payment schedules or any type of custom amortization schedule
- Complete reporting section including several portfolios, aged arrears list, custom report builder and multiple sorting and filtering options
- Apply automatic penalty charges or admin fees to all or individual loan clients
- Generate automatic fee schedules for individual or all loan clients
- Generate integrated legal documents such as Loan Agreements, GSAs, Audit Confirmation letter, Letters of Offer, credit and collection etc.
- Handle equity/share transactions and terms
- Handle both revolving and draw-down line of credit products
- Provision For Loss based on custom risk rating
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