NGO Loan Software

NGO loan software offers custom-made group loan product with integrated accounting & reporting module. NGOs are private organizations which are characterized primarily by their humanitarian or cooperative approach to promote the welfare of the society and the underprivileged without expecting commercial welfare. Being a subset of the nonprofit sector, they pursue activities to relieve the hardships of the poor, promote their well-being, protect the environment, and undertake the development of a community.

NGOs tend to concentrate their activities based on their thematic, social and geographical priorities ranging from poverty alleviation, women empowerment, the health of a community, housing facilities, human rights, natural resources preservation, water, sanitation, education and other range of socio-economic issues.

They play a crucial role in ensuring the economic prosperity of our nation by serving the underprivileged. They aspire to harness the potential hidden within the rural roots of our country through a slew of financial services aimed at bringing about changes in the living conditions of the downtrodden.

NGOs promote, organize and facilitate the development of Self-Help Groups (SHGs) and Joint Liability Groups (JLGs) to make them self-reliant and proactive to sustain in the fast-paced world. NGOs create awareness among the poor people about the benefits they procure by forming self-sustainable credit communities.

They help the women organize and form exclusive groups, frame a set of rules and regulations to manage the group, encourage the selection of leaders for the group, ingrain the habit of saving among the group members and even help them in the process of opening a bank account.

Limited funds for IT Infrastructure

NGOs often tend to run into difficulties in obtaining adequate,  and continuous funds to take care of their day-to-day operations. Due to this, they’ve to resort to splitting whatever limited resources they’ve across their long list of provisions. As a result, they’ve trouble allotting sufficient funds towards the IT expenditure required to streamline their loan portfolio. Managing a huge chunk of loan accounts on spreadsheets has the potential to turn out to be an accounting nightmare.

The Scalability Factor

The problem with NGOs when they start expanding their operations across towns is scalability, the expenditure constraints which led them to choose an enterprise solution might come at a disadvantage when thing start to get complex. Without the presence of a scalable solution that is capable of helping the organisation expand their operations with appropriate technology, the transition would be nothing short of a nightmare.

Frequently Changing Regulatory Compliance

As several NGOs take a “Hardware approach” to development by focusing on building the infrastructure instead of empowering their organization and staff members, they might end up running into trouble when they attempt to tackle the changing aid paradigm. The lack of sustainability measures could make it harder for NGOs to cope up with the ever-changing regulations and make it difficult for them to comply with the constantly changing norms.

Geographical Location

Several NGOs are located in remote locations near the communities they cater to. However, since most of the NGOs concentrate on the rural poor, the connectivity issues might make it hard for the loan officers to remain productive. The crucial tasks such as onboarding customers through loan applications from villagers, rerouting them to the NGO, conducting an effective on-field investigation, and taking care of collections could become more complex and tedious.

All these challenges can be overcome by NGO loan software like Finabile, which is a prominent loan software used by top lending institutions around the world.

Finabile is a one-stop solution which was designed with the purpose of sorting out the operational challenges by instilling automation in the workflow of NGOs that is the NGO loan software. Finabile offers the NGO loan software, an optimum work environment with its huge list of intensive features:

Our unified banking solution could help even the not-so-technically aligned staff members of the NGOs to configure several loan products. The flexible nature of our software gives the NGOs a choice to either go with our huge line of predefined loan products or customize the default ones to meet their needs.

Finabile, world-class NGO Loan software and JLG Loan Software offers custom-made group loan product with integrated accounting & reporting module. Our built-in accounting system eliminates the need for a separate accounting software and offers NGOs real-time accounting modules which inject more transparency into their day-to-day operations, reducing redundancy in the workflow.

Finabile offers NGO loan software for Group loans such as SHG and JLG loan, these exclusive elements reduce the operational complexities by helping the NGOs even store relevant loan documents of every member of a Group effortlessly using our intuitive document management system.

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