Installment Loans

Installment Loans

This software module allows you to process installment loans.  This product will currently handle Industrial or type “B” loans.  These loan types require add-on interest.  The system calculates the amount of loan based on parameters you setup in the system and the principle entered by the user at the point of sale. The system also creates a payment schedule for the loan.  A contract is automatically printed for each new installment loan transaction and may be customized.  This may be utilized as an add-on module to the Payday Loan/Check Cashing program to allow both services to be operated out of a single cash drawer.