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Any business selling big ticket items from pianos to airplanes has thought about letting their customers make payments and charging a little interest. Anyone doing services from kitchen remodels to vehicle repairs, where the bill can be a big pill to swallow for an otherwise responsible customer, has thought about how to make a deal that works for everyone. Lots of businesses deciding to offer in-house financing discovered Moneylender Professional. Our software has tools to make creating and tracking payment plans easy and automatic.
Installment Contracts From Your Own Templates
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Moneylender has a very capable template design system, including the ability to import a template from a Word document. You can create installment contract templates that are perfectly tailored to your business and local laws. Once you set up the template, you can create a loan in Moneylender, and it will generate a prefilled contract for you instantly. This same system lets you tweak the default statements and notices, so they say exactly what you want and reflect your business style perfectly.
Payments Handled, Questions Answered
Overpayments are automatically applied to principal, so your customers can pay down their balance ahead of time without any extra effort on your part. Payoff quotes are almost instant, so you can always answer the question “How much will it take to pay this off on Friday?” You can amend, adjust, and forgive in any way that suits you. Want to give a customer a little discount for referring their neighbor? Or maybe lower the monthly payment for someone that ran into some misfortune? You can adjust everything easily, including forbearance (gaps without payment), reinstatement (making a delinquent loan current).
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Whatever payment structure you want to offer, Moneylender can handle it — interest and payments of varying amounts at varying times on varying schedules:
Taxes and Job Expenses, Right On the Loan
If you need to track taxes separately over time, Moneylender's extension accounts are a perfect fit for tracking separate distributions of money alongside the principal, interest and fees of the loan. Moneylender can also track expenses for each loan, if you don't already use other accounting software or want to be able to itemize expenses from job-to-job over the whole life of the loan.
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AutoPay — Customers Serve Themselves
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Our AutoPay service lets you offer your customers a self-service portal where they can pay directly from their bank account. They can see their principal balance, due date and amount due online, kept in sync with the balances Moneylender calculates for their loans automatically. They can schedule one-time and recurring payments, as well as cancel upcoming payments and change their bank account without ever having to contact you. Their payments will post to your bank account and show up in Moneylender on their loans automatically.
Capitalize from both sides by keeping customers that can't absorb a large purchase at once while earning interest on the financing over time. Moneylender gives you the tools you need to open this new revenue stream with confidence. You'll always have good numbers at your fingertips, and you'll always have complete control over how you expect your customers to repay.
Simple Pricing, No Surprises
Buy Moneylender Desktop once, or subscribe to Moneylender Online and work in any browser. Same features either way — you're choosing how you'll access Moneylender, and you can add the other option as your needs grow.
Need to keep your data in-house? Host your data on your own server by running a licensed copy of Moneylender Desktop — self-hosting is built into the app, with about five minutes of setup. Your data never leaves your infrastructure, which makes it the right fit for HIPAA, FERPA, and banking data. Watch the 5-minute setup.
Moneylender Online plans by portfolio size: $39/mo up to 99 loans · $59/mo up to 999 · $99/mo for 1,000+. Every plan includes one web user; extra web users are $30/mo each, and desktop license-holders always connect free. Full details on the pricing page.