Goods. QFund TM provides a solution that is complete handling the cash advance deals for loans which can be disbursed to borrowers in substitution for checks drawn regarding the mortgage lender

Credit line (Secured / Unsecured)

QFundTM supports both secured and line that is unsecured of (LoC). The machine enables authorized users to process A loc that is new based customer application on line or during the shop. Both guaranteed and loans that are unsecured be

1. For fixed terms or without any limitation to term
2. Revolving or not revolving

This product is totally configurable and supports co – debtor support, has configurable repayment due cycle times, supports auto/manual closing of line. It may also help statement that is configurable and declaration times.

Features

Salient top features of this system are since below and all sorts of of those may be configured when you look at the system in line with the company or needs that are regulatory.

• The client will probably be confirmed for many underwriting demands.
• The client will be permitted to just simply take a variety of disbursements up to a authorization that is specified utilizing the Limit/ Maximum Amount
• The LoC could have a fixed element of cost Hawaii payday loans being charged during the time of loan processing and a variable component i.e. rate of interest being charged on easy interest foundation.
• The consumer has got to make minimal repayment on or before deadline because of the belated charge being charged on the basis of the pre-configured values in case there is standard in re re re payment.
• Statements is going to be delivered to the clients at the conclusion of every payment period, just like charge card statements, frequently spanning as much as a starting from the date loan is processed month.
• Client shall be defaulted over predefined quantity of non-payments. This may later on be charged down.
• The Charge-Off procedure can either be Manual or car process.
• After the client account is defaulted, the month-to-month payment statements will soon be stopped thereafter and immediately prevents incurring finance cost.
• Credit line max and min loan quantities are configurable company guidelines.
• re Payments – System will create a billing that is monthly when it comes to consumer showing username and passwords including loan disbursements, accrued Finance fees, brand brand New Balance and minimal re re payment due.
  • Consumer must spend at the least payment that is minimum shown into the declaration on or prior to the re payment deadline suggested within the Statement.
  • Minimal re re payment shall add finance fee accumulated through the final end of billing cycle.
  • Minimal re re payment includes (per cent) of major stability for the loan outstanding in the client account. (per cent) is configurable company guideline.
  • Minimal Payment may also consist of any belated repayment charges or any other quantities previously due and outstanding on client account.
  • Client has choice to frequently pay more and spend a lot more than Minimum Payment due.
  • Consumer has choice to pay-off the total amount at any point of that time period.
  • In case a re re payment is X (Configurable guideline value) or maybe more days late, belated charge will likely to be charged in the consumer account add up to $ (Configurable guideline value).
  • Every time the client makes the re re re payment it goes first to Membership cost, belated cost, finance costs and minimal stability principal consequently.
• Yearly Fee or Membership Fee – Customer account will likely to be imposed by having a yearly charge in the total amount of $ for the accessibility to the account. This is imposed in the date that the account is opened and will also be imposed annually so long as the account stays available. This is business rule that is configurable.

Retail Installment Credit

The Retail Installment loans are meant for clients who would like to avail loans for sale of products from different merchants during the true point of purchase of products. The selects that are applicant or solutions given by the merchants within their real shops or online portals and select loan option at discover.

As soon as that loan is set up because of the customer/merchant, the mortgage details are confirmed therefore the eligibility is examined by underwriting engine. In line with the eligibility of this client the vendor cost details, advance payment, Trade In and borrower details Loan Eligibility comes from.

Consumer has got the solution to pick the loan choice by confirming the given information supplied by the machine.

This system additionally provides just like money choice to the client according to various requirements configured into the system.