Economic Development &
Community Development Loan Servicing
LA Pro has provided development loan servicing software for over 25 years. We understand the unique challenges that economic development agencies and non-profit organizations face when managing economic development and community development loans. Whether you are servicing 10 loans or 10,000, our software can be tailored to specifically meet your unique requirements.
LA Pro maintains your loan information, tracks loan transactions, and meets the reporting requirements of state and federal programs. It handles complex economic development loans with tracking and reporting of multiple participants and multiple collateral sources, enabling you to easily keep everyone current on the loan status.
Key features of our development loan servicing software include:
- Easily track escrow funds collected and disbursed
- Repayments and disbursements are easily recorded and loan-to-date histories instantly retrieved
- Administration capabilities for multi-loan projects
- Accruing and fixed fees are available and can be charged and billed at the facility or loan level
- Currency values can be updated as needed using LA Pro’s import feature
One specific example of unique requirements for development organizations is with our implementation of Habitat for Humanity loan accounting systems which involve several special situations. We have worked with chapters that require no interest loans or require great flexibility in processing payments and calculating penalties. All of these capabilities are easily accommodated during the initial training and configuration of the software.
Reports Specific to Development Loan Servicing Needs
LA Pro includes the specific reports needed for economic development organizations; including client commitment and available amounts. Complete reports may be produced for Board, management, and funding sources any time they are needed. Reports can be filtered to include all loans, or loans by city, county, funding source, loan status, loan officer, loan type, borrower type, and more. In addition to more than 100 standard reports that are included with our software, we provide an ad-hoc reporting capability that allows you to create any additional reports you might need. And whenever you need assistance, our dedicated support team is available to assist you with custom reporting or any other questions you may have regarding your development loan serving system.
Proven, Cost Effective Development Loan Servicing Solution
We have supported nonprofit agencies such as economic development, community redevelopment, housing, and government agencies for more than 25 years. We have a clear understanding of your unique management needs.
Training via conference call and assistance with setup is included in your purchase price. We won’t be happy until you are completely comfortable with your process. Unlike other loan servicing software, LA Pro has no add-ons or extra modules. You receive the complete package with everything you need to be successful.