About LoanPro

LoanPro is a full-service lending management software which allows organizations to create, service, and collect loans while automating routine communication tasks. The solution serves a variety of loan organizations including auto, consumer, real estate, mortgage, boat, title, medical, and more. LoanPro is customizable to fit any business’ needs, and comes with advanced features such as live amortization, custom reports, payment processing, customer communication, and advanced notifications.

LoanPro allows organizations to create custom online application forms in order to collect the required information from borrowers. Applications can be accessed via LoanPro’s customer-facing website, or embedded onto a website. Advanced communication features enable users to create template messages and have them sent out automatically based on specific events, such as when a payment is made, a loan becomes delinquent, or a credit card expires. Borrowers can also log in to LoanPro’s website to view and manage their loan data.

Payment options include automatic payments either by ACH/EFT or credit/debit card, and allow users to schedule automatic payments when they are due, or on any other frequency. Online payments enable users to pay through LoanPro’s website, and cash payments can be made at any 7-Eleven location with the US. Lenders can pull a detailed transaction history for any loan or group of loans, as well as view history reports for forecasting, interest accrual, static pool, borrower delinquency, and more.

Pricing starting from:

US$500,00/month

  • Free Trial
  • Subscription

Key benefits of LoanPro

  • Loan applications can be viewed and accessed from the customer-facing website provided by LoanPro, or embedded onto any existing business website.

  • The solution offers fully PCI compliant payment data storage and all subscriptions include full access to LoanPro's REST API.

  • Tools for customer communication include automated SMS messages and emails for reminders and offers, as well as a customizable website that allows borrowers to make payments electronically.

  • Transaction history reports help determine revenue and profit, and enable users to post summary accounting numbers in the general ledger.

  • LoanPro uses 256+ bit encryption with all data hosted by Amazon AWS for maximum scalability and security.

  • Devices

    Business size

    S M L

    Markets

    Canada, United States

    Supported Languages

    English

    Pricing starting from:

    US$500,00/month

    • Free Trial
    • Subscription

    Images

    View all loans at-a-glance via the dashboard
    Setup and edit loan terms, interest rates, payment dates, and more
    View a real-time breakdown of loan transactions
    Access account setup terms to view annual percentage rates, finance charges, and more
    The loan manager tab provides an overview of loan details for each borrower
    View 6 more
    LoanPro video
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    LoanPro screenshot: View all loans at-a-glance via the dashboard LoanPro screenshot: Setup and edit loan terms, interest rates, payment dates, and more LoanPro screenshot: View a real-time breakdown of loan transactions LoanPro screenshot: Access account setup terms to view annual percentage rates, finance charges, and more LoanPro screenshot: The loan manager tab provides an overview of loan details for each borrower

    Features

    Total features of LoanPro: 59

    • ACH Payment Processing
    • API
    • Accounting
    • Activity Tracking
    • Alerts/Notifications
    • Amortization Schedule
    • Auto Loans
    • Automated Scheduling
    • Automatic Funds Distribution
    • Borrower Management
    • Business Loans
    • Cash Management
    • Collateral Tracking
    • Collections Management
    • Communication Management
    • Compliance Management
    • Construction Loans
    • Contact Database
    • Credit Card Processing
    • Customer Database
    • Customer History
    • Customizable Fields
    • Customizable Templates
    • Data Import/Export
    • Data Verification
    • Distribution Management
    • Document Management
    • Document Storage
    • Document Templates
    • Electronic Funds Transfer
    • Electronic Payments
    • Email Alerts
    • Email Invitations & Reminders
    • Email Templates
    • Historical Reporting
    • Investor Management
    • Loan Processing
    • Mortgages
    • Multi-Channel Communication
    • Multiple User Accounts
    • PCI Compliance
    • Payment Options
    • Real Time Analytics
    • Reporting & Statistics
    • Reporting/Analytics
    • Role-Based Permissions
    • Rules-Based Workflow
    • SMS Messaging
    • Sales Tax Management
    • Scheduled / Automated Reports
    • Secure Login
    • Student Loans
    • Summary Reports
    • Template Management
    • Third Party Integrations
    • Transaction History
    • Two-Factor Authentication
    • Visual Analytics
    • Website Management

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    Reviews

    Overall rating

    4,8 /5
    (16)
    Value for Money
    5/5
    Features
    4,9/5
    Ease of Use
    4,7/5
    Customer Support
    5/5

    Already have LoanPro?

    Software buyers need your help! Product reviews help the rest of us make great decisions.

    Write a Review!
    Showing 5 reviews of 16
    Tyler D.
    Overall rating
    • Industry: Financial Services
    • Used Daily for 6-12 months
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 10.0 /10

    The team has LoanPro has been remarkable to work with.

    Reviewed on 2018/02/02

    We had been using excel files and dropbox. This software allows us to bring all of our...

    We had been using excel files and dropbox. This software allows us to bring all of our documentation and portfolio management into one location. It has been easy to set up and with great support from the team at LoanPro. We've been implementing collection letters into the software which will be of great benefit to manage our collection efforts. The reports the software generates of our portfolio has also greatly assisted the accounting department in tracking the performance and revenue. We love this software and the team at LoanPro!

    Pros

    We've been looking for a software to manage our portfolio for several years and couldn't find anything that would do what we needed and not break the bank. It is reasonably priced and is easy to use. The software is also helping manage our delinquency and collection efforts. Phenomenal product!

    Cons

    The software is primarily for managing a loan portfolio. Our deals are leases so it has taken some customization, but the team at LoanPro has been able to make the adjustments needed to fit our leases.

    Verified Reviewer
    Overall rating
    • Industry: Financial Services
    • Company size: 51-200 Employees
    • Used Daily for 6-12 months
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 7.0 /10

    Has some problems, but it's probably the best of its kind

    Reviewed on 2020/09/25

    Overall, I do recommend LoanPro if you need an off-the-shelf product. But you are bound to...

    Overall, I do recommend LoanPro if you need an off-the-shelf product. But you are bound to encounter "head-scratching" issues, so be prepared. For example, the system does not record attempted payments with debit card. Hence, you have no idea if and how frequently payments are failing. Fortunately, the customer support is good and they will help you find a resolution or work-around to these issues.

    Pros

    LoanPro is very innovative; not a lot of companies can automate LaaS (lending as a service) like they do. They built their api to be very flexible so that it can work for almost any time of lending company. If it weren't for LoanPro, we wouldn't have been able to launch as fast as we did.

    Cons

    The way they structure their data is convoluted and opaque. It can be very frustrating for a data analyst. There are also some weird and destructive practices. For example, when modifying a loan, the table loan_reverse_status_archive erases the past, which is very problematic for accounting.

    Response from LoanPro

    Thank you for your review, endorsement, and valued partnership. We appreciate the feedback, both positive and negative as LoanPro is committed to empowering tech-forward lenders through improved automation and data visibility.

    Your feedback has been added to LoanPro's Voice-of-the-Customer process, as listening to our client's needs/desires is a key component for both our tech & support teams.

    For added clarification, LoanPro does have a few tables from which records are occasionally deleted. However, the deletion of records is recorded in an audit table for the lender client's reference.

    It sounds like, based on your lending needs, a better table to use would be the historical loan archive table. This table takes a snapshot of each loan every single day and is never deleted (can not change).

    To learn more about the Historical Loan Archive table and/or data warehousing options, contact the LoanPro support team.

    Thanks,

    Jorge U.
    Overall rating
    • Industry: Financial Services
    • Company size: 2-10 Employees
    • Used Daily for 6-12 months
    • Review Source

    Overall rating

    • Ease of Use
    • Likelihood to recommend 6.0 /10

    Promising Software

    Reviewed on 2019/06/25

    Overall LoanPro can provide a great value for lending institutions. However I have felt that I...

    Overall LoanPro can provide a great value for lending institutions. However I have felt that I cannot trust the program to work when most needed. There have been several instances where the program crashed during office hours and have had to turn away customers. Definitely cannot lend with confidence.

    Pros

    The features cover almost everything a lending institution needs.

    Cons

    Mail house tool can only send to primary addresses and not mailing addresses.

    Inconsistent variable formats and outdated documentation on variable use.

    Up time is not 99.9%. They fail to update service outages on their status page.

    Collector queue tool is always failing or inoperable.

    Daily maintenance runs during office hours; which advances the program to the next day.

    Failed to fulfill promises on new features

    Kryspin Z.
    Overall rating
    • Used Daily for 6-12 months
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 10.0 /10

    Cloud based Loan Solution,scalable in performance and cost,Turnkey to Full API,Fast...

    Reviewed on 2018/05/02

    I was able to plug a solution into a hole for a project where no other solution existed that i...

    I was able to plug a solution into a hole for a project where no other solution existed that i could tell of.

    Pros

    Personally, i'm a full stack developer.
    I was searching for a loan servicing package for an loan onboarding and servicing implementation.
    Built from ground up on Amazon's cloud, LoanPro is a first-class Platform for Loan Servicing.
    It offers:
    full API access with all documentation available to evaluate before you even sign.
    a wide set of payment processors: ACH, NACHA, credit/debit...
    a wide range of optional features to help in onboarding, validation, portfolio mgmt. and reporting.
    If you are NOT a developer, they provide great support and Turnkey options to complete your loan onboarding.
    If you are uncertain either in needing a turnkey or if you're a developer and need to test they offer a 30 day free trial complete functional.
    Launches completely in 30 mins giving you an instance to launch with full api access.
    this trial can convert over before the end so that no work is lost in the evaluation.

    I was able to create a full api based onboarding and servicing solution in under 100 man hours mixing and matching with other technology providers in cloud based per user/loan cost environment.
    Costs are defined in per loan metrics with options for minimal upfront or with a higher upfront and lower per costs.

    LoanPro has a first class Loan servicing front end as well as a customer facing portal.
    Makes a great choice for a # of use cases in the Loan Provider space.
    I would highly recommend it in both Developer and Non Developer scenarios.

    Evan C.
    Overall rating
    • Industry: Financial Services
    • Company size: 51-200 Employees
    • Used Daily for 6-12 months
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 9.0 /10

    LoanPro Review

    Reviewed on 2019/05/28

    Pros

    We've been able to automate large portions of our servicing center workflow which is helping us realize meaningful savings as we scale, as well as avoid time-consuming third-party integrations.

    The level of data visibility built into the platform is substantial. LoanPro offers several flexible hierarchies in which to group loans making it easy to segment our portfolio and pull the relevant data we need.

    The LoanPro support team is very knowledgeable about the product and was instrumental in getting our organization up to speed post-integration, from helping us build tools to optimize collector work flows, to guiding how we architected our business processes in the platform.

    Cons

    Some additional reporting functionality would be a great - but we're able to build what we need from the DB access provided.

    Showing 5 reviews of 16 Read all reviews

    LoanPro FAQs

    Below are some frequently asked questions for LoanPro.

    LoanPro offers the following pricing plans:

    • Starting from: US$500,00/month
    • Pricing model: Subscription
    • Free Trial: Available

    LoanPro offers multiple pricing packages tailored to the needs of different lender types and sizes. Want assistance? Sign up for a free 10-minute pricing consultation today.

    We do not have any information about LoanPro features

    LoanPro has the following typical customers:

    Self Employed, 2-10, 11-50, 51-200, 201-500, 501-1 000, 1 001+

    LoanPro supports the following languages:

    English

    LoanPro supports the following devices:

    LoanPro integrates with the following applications:

    Authorize.Net, DocuSign

    LoanPro offers the following support options:

    Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support

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