LoanPro Software Pricing, Features, Reviews & Comparison of Alternatives

LoanPro Software

Full-service lending management platform

4.86/5 (14 reviews)

LoanPro Software overview

What is LoanPro Software?

LoanPro is a full-service lending management software which allows organizations to create, service, and collect loans while automating routine communication tasks. The solution serves a variety of loan organizations including auto, consumer, real estate, mortgage, boat, title, medical, and more. LoanPro is customizable to fit any business’ needs, and comes with advanced features such as live amortization, custom reports, payment processing, customer communication, and advanced notifications.

LoanPro allows organizations to create custom online application forms in order to collect the required information from borrowers. Applications can be accessed via LoanPro’s customer-facing website, or embedded onto a website. Advanced communication features enable users to create template messages and have them sent out automatically based on specific events, such as when a payment is made, a loan becomes delinquent, or a credit card expires. Borrowers can also log in to LoanPro’s website to view and manage their loan data.

Payment options include automatic payments either by ACH/EFT or credit/debit card, and allow users to schedule automatic payments when they are due, or on any other frequency. Online payments enable users to pay through LoanPro’s website, and cash payments can be made at any 7-Eleven location with the US. Lenders can pull a detailed transaction history for any loan or group of loans, as well as view history reports for forecasting, interest accrual, static pool, borrower delinquency, and more.
loanprosoftware.com

Pricing

Starting from
$200
Pricing options
Value for money
View Pricing Plans

Devices

Business size

S
M
L

Markets

United States, Canada

Supported languages

English
LoanPro Software screenshot: View all loans at-a-glance via the dashboardCalculation AccuracyLoanPro Software screenshot: Setup and edit loan terms, interest rates, payment dates, and moreLoanPro Software screenshot: View a real-time breakdown of loan transactions LoanPro Software screenshot: Access account setup terms to view annual percentage rates, finance charges, and moreLoanPro Software screenshot: The loan manager tab provides an overview of loan details for each borrowerWorkflow AutomationCustomer-Facing WebsiteCustomer CommunicationPaymentsAutomatic Payments

LoanPro Software reviews

Excellent
12

Very good
2

Average
0
Poor
0
Terrible
0
Value for money
Features
Ease of use
Customer support
  5.0
  4.9
  4.8
  5.0
Tyler Deters

The team has LoanPro has been remarkable to work with.

Used daily for 6-12 months
Reviewed 2018-02-02
Review Source: Capterra

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.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Kryspin Ziemski

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

Used daily for 6-12 months
Reviewed 2018-05-02
Review Source: Capterra

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.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Chandan Chopra

The Best Servicing Software in the marketplace

Used daily for 1-2 years
Reviewed 2017-03-08
Review Source: Capterra

LoanPro is by far the best servicing software I have had the pleasure of using. Compared to other servicing systems out there, LoanPro is light years ahead. It is built on modern technology and offers robust capabilities. With their servicing capabilities, business rules and APIs, it is extremely flexible and extensible. Their support is absolutely fantastic. They really take their time to listen to and understand the needs of their customers and help find the right solutions. They answered endless questions while we were making our decision, and supported us every step of the way during implementation (At a small-dollar consumer finance lender). Highly recommend it!

Pros
Ease of use, Flexible, Reliable, Accurate, Consistent, Highly configurable, Rich set of features and APIs - they GET Servicing and do it better than anyone else.

Cons
None

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Jorge Urbieta

Promising Software

Used daily for 6-12 months
Reviewed 2019-06-25
Review Source: Software Advice

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

Rating breakdown

Ease of use
Features

Likelihood to recommend: 6/10

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Evan Coates

LoanPro Review

Used daily for 6-12 months
Reviewed 2019-05-28
Review Source: Capterra

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.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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LoanPro Software pricing

Starting from
$200
Pricing options
Free trial
Subscription
View Pricing Plans

LoanPro offers multiple pricing packages tailored to the needs of different lender types and sizes. Want assistance? Sign up for a free 10-minute pricing consultation today.

LoanPro Software features

API
Accounting Management
Automatic Notifications
Compliance Management
Data Import/Export
Electronic Payments
Reporting & Statistics
Third Party Integration

Accounting Integration (156 other apps)
Activity Dashboard (181 other apps)
Audit Trail (115 other apps)
Billing & Invoicing (166 other apps)
Customizable Reporting (148 other apps)
Expense Tracking (148 other apps)
Financial Analysis (112 other apps)
Invoice Management (212 other apps)
Invoice Processing (136 other apps)
Multi-Currency (143 other apps)
Real Time Data (139 other apps)
Workflow Management (130 other apps)

Additional information for LoanPro Software

Key features of LoanPro Software

  • Amortization schedule
  • Auto loans
  • Construction loans
  • Investor management
  • Loan processing
  • Mortgages
  • Fee management
  • Automatic funds distribution
  • Collateral tracking
  • Tax management
  • Escrow management
  • Payoff processing
  • Insurance management
  • Consumer loans
  • Business loans
  • Student loans
  • Customizable online application
  • API
  • Import system
  • Custom onboarding process
  • Automatic payments
  • PCI-DSS compliant
  • Transaction history reports
  • Auto loans
  • Consumer loans
  • Real estate loans
  • Mortgage loans
  • User accounts
  • Live amortization
  • Verification tools
  • Data backup and storage
  • Advanced queries
  • Reports
  • Credit card payments
  • eCheck processor integration
  • NACHA file generation
  • Cash payments
  • Customizable website
  • Customizable emails
  • SMS messaging
  • Automated phone calls
  • Credit scores
  • Advanced notifications and alerts
  • API
View All Features

Benefits

Loan applications can be viewed and accessed from the customer-facing website provided by LoanPro, or embedded onto any existing business website.

The solution offers fully PCI compliant payment data storage and all subscriptions include full access to LoanPro's REST API.

Tools for customer communication include automated SMS messages and emails for reminders and offers, as well as a customizable website that allows borrowers to make payments electronically.

Transaction history reports help determine revenue and profit, and enable users to post summary accounting numbers in the general ledger.

LoanPro uses 256+ bit encryption with all data hosted by Amazon AWS for maximum scalability and security.