Micro-loan programs, economic development and community development loan programs will definitely find Revolving Loan Servicing software the complete, reliable and affordable way to organize loan portfolios.
VESL -RLSS maintains loan profile data, records loan transactions, and meets the reporting requirements of state and federal programs. VESL -RLSS is specifically designed for organizations that must keep track of information for different funding sources — even for multi-funded loans.
Loan files capture statistical, demographic and financial data for reporting and include user defined fields. "Master Query" allows you to create hundreds of special reports that can be saved and used month after month. Produce mailing labels, rosters, spreadsheets, counts and tickler lists.
Designed for Non-Profit Organizations
The VESL Revolving Loan Servicing Software is a complete package which provides one of the most powerful portfolio management tools you can find. Designed to handle virtually any loan program, it provides the day-to-day needs of portfolio management as well as complete reporting capabilities.
VESL Revolving Loan Servicing Software is a robust & comprehensive system providing one of the most powerful portfolio management tools you can find. Designed to handle virtually any loan program, it performs the day-to-day needs of portfolio management as well as complete reporting capabilities.
Monthly Activity Reporting
VESL-RLSS may be used as a subsidiary system to an accounting system - Financial Management system or another accounting system.
VESL clients use VESL-RLSS as a “stand-alone” system. They may be local or state government agencies, or other organizations who do not maintain their own accounting systems.
The Monthly Loan Transaction Activity Report is the key to reconciling with your accounting system each month, providing the data required to prepare a journal entry. This report also serves as the proof register for all transactions entered throughout the month.
The report lists all transactions posted in the given month in chronological order and then automatically summarizes them by fund totaling principal, interest, service fees, penalties, escrow amounts, special fees, loan disbursements and repayments.
Plus, you have the capacity to track additional loan costs that you do not wish to collect interest upon nor affect the principal balance.