About LoanPro

LoanPro is a cloud-based loan servicing and management solution built on its full-featured API with AWS allowing for complete scalability and a wide variety of business solution integrations such as accounting, CRM, and ERP systems. Data management, payment solutions, customer communication, process automation, and reporting functionalities are all offered with complete data visibility and control.

LoanPro offers data management features such as live amortization, verification tools, and storage. Users can also run queries on data sets to extract and process existing data. The product also allows users to manage different modes of payment such as cash, card, and e-check.

LoanPro allows users to build websites that can accept online loan requ...


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Supported Operating System(s):

Mac OS, Web browser (OS agnostic)

16 Reviews of LoanPro

Average User Ratings

Overall

4.81 / 5 stars

Ease-of-use

4.5

Value for money

5.0

Customer support

5.0

Functionality

5.0

Ratings Snapshot

5 stars

(13)

13

4 stars

(3)

3

3 stars

(0)

0

2 stars

(0)

0

1 stars

(0)

0

Likelihood to Recommend

Not likely

Very likely

Showing 1 - 5 of 16 results

February 2018

Tyler from Paradigm Equipment Finance

Verified Reviewer

Industry: Financial Services

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

February 2018

The team has LoanPro has been remarkable to work with.

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.

September 2020

Anonymous

Verified Reviewer

Company Size: 51-200 employees

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

3.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

September 2020

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

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

Replied November 2020

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,

June 2019

Jorge from SonAriz Financial

Company Size: 2-10 employees

Industry: Financial Services

Time Used: Less than 12 months

Review Source


Ease-of-use

4.0

Functionality

4.0

June 2019

Promising Software

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

May 2018

Kryspin from QCOMPUTE LLC

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

May 2018

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

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.

May 2019

Evan from Octane Lending

Verified Reviewer

Company Size: 51-200 employees

Industry: Financial Services

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

May 2019

LoanPro Review

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.