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Also serving Kochi and Cochin
Ernakulam lends well beyond the head offices in the city, through chit funds, societies and trade credit in the eastern towns; lending software puts schedules, collections and ageing on one ledger.
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Part-payments and rate changes reworked in a sheet by whoever is free.
Schedules regenerate from the product, the same way for every account.
Field receipts entered at day end, sometimes the following morning.
Collection recorded at the door, with time and place against the account.
Overdue and provisioning statements assembled in a rush at quarter end.
Ageing and classification available on any ordinary working morning.
Lending is an old business in this district and much of it happens away from the city. Societies and chit companies in Koothattukulam and Muvattupuzha, advances against stock in the Perumbavoor timber trade, seasonal credit around the pineapple market at Vazhakulam. Many began with a ledger book and moved to a program written long ago, and as the book grows the interest gets reworked in a spreadsheet and the overdue list arrives late.
Loan and lending management on ERPNext carries an account from application to closure: product configuration, KYC and approval workflow, disbursal, repayment schedules, interest and penalty accrual, collateral records, field collections on a phone and ageing reports. Because lending sits in the same system as the accounts, every disbursal, receipt and accrual posts to the general ledger without an import.
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An example
A society agent sets out from Koothattukulam on a Tuesday with the day's list on his phone, sorted by the route he drives. At each door he opens the account, takes the instalment and issues the receipt from the handset, so the borrower leaves with a printed slip and the account updates where he is standing. A part-payment against an older loan reworks the remaining schedule without anybody ringing the office. By the time he returns in the evening the cash he carries matches a figure already on the screen, and the day's collection is reconciled before the shutters come down.
For a lender in Ernakulam we start from your product sheet and a sample of live accounts, deliberately including the awkward ones. Each product is configured and its schedule checked against your existing figures before any data moves. The migration of open loans is rehearsed and then cut over at a month-end, and branch and collection teams are trained in person rather than by a recorded session.
Discovery. Your loan products, interest methods, collection routine and reporting.
Blueprint and fixed scope. A clear plan, the deliverables and the timeline, agreed in writing before configuration starts.
Configuration. Loan products, schedules, disbursement, repayment, collections and the books behind them.
Data migration. Borrowers and running loans with their schedules and outstanding balances.
Training, go-live and support. Your team tests on real data, we stand beside you at launch, then support continues under a plan.
The scope and timeline are agreed in writing before work starts.
Chit funds and co-operative societies
Subscriber and member records, auction or instalment schedules, branch-wise books, and approval routing by amount, with the entries landing in the society's own accounts rather than in a separate program to be reconciled later.
Trade credit for commodity dealers
Advances against rubber, pepper and timber stock with the security recorded, limits per party applied when a new advance is raised, and outstanding visible by dealer instead of only as one total figure.
Vehicle and equipment financiers
Finance for lorry owners and operators working the plywood and produce routes, with the asset held as security, insurance and permit renewal dates noted, and repayments aligned to the way the borrower actually earns.
Yes. Collateral is recorded against the account with its description, value and documents, and a loan can be limited to a proportion of that value. Release of the pledge is tied to closure. Anything specific, such as ornament-wise details or appraiser records, is added as customisation.
It produces the underlying data: days past due, classification, provisioning, portfolio cuts and audit trails. The exact return formats differ by the kind of lender and change over time, so we build the reports your compliance team specifies rather than claiming one fixed set suits everyone.
Yes. Branches share one database, with permissions limiting each to its own borrowers while the head office sees the whole book. That suits a society expanding from one town into the next, because opening a branch becomes a configuration rather than another installation to maintain.
After a first conversation about your loan products, branches and the volume of running loans, we agree the scope and send you a written quotation. The price, the deliverables and the timeline are fixed against that scope before any work starts, so nothing grows without your sign-off.
You speak to someone who does this work, not a call centre. They ask about your loan products, how collections run and what you use today. If it looks like a fit, we agree the scope and put it in writing, with the timeline, before any work starts. If it does not, we tell you.
Koothattukulam Municipalitylocal body
A small town in the south-east of the district where societies and chit companies lend to people the agent knows by name, so field collection and a same-day ledger matter more than any branch counter.
Source: ernakulam.nic.inPerumbavoor timber and commodity marketmarket
daily trade in rubber, pepper, ginger, turmeric, coconut, nutmeg, rice and arecanut feeding Kochi exporters, alongside the plywood and sawmill trade
Rubber, pepper and timber change hands here daily on advances and credit, which is why security records and party-wise limits belong in the same system as the accounts.
Source: en.wikipedia.orgVazhakulam pineapple market, Muvattupuzhamarket
one of Asia's largest pineapple markets; the GI-tagged Vazhakulam pineapple, with a Kerala Agricultural University research station since 1995
Produce trading runs on seasonal credit, so schedules that follow a grower's or trader's cash cycle are more useful than a uniform monthly instalment.
Source: en.wikipedia.orgPlaces and organisations are named for local context only. Acube Innovations is not affiliated with or endorsed by them.
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