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Also serving Cannanore
Kannur is cooperative country: credit societies, employee thrift funds and small finance firms lend here daily, and many still track those loans in bound ledgers.
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Few districts have as dense a web of cooperative credit as Kannur. Almost every panchayat has a service cooperative society lending to farmers, traders and salaried members. Weavers' and beedi workers' societies run thrift and loan schemes for their own people. Alongside them are private financiers offering gold, vehicle and business loans to a population whose income often arrives as remittances from the Gulf, in lumps and not monthly.
Loan and lending management software on ERPNext covers the life of a loan: application, appraisal, sanction, disbursement, repayment schedules, interest accrual, penal charges, collections, closure and write-off. Every event posts to the accounts. Different products, such as term loans, gold-backed loans or short emergency advances, carry their own rules, and overdue and portfolio reports are available to management daily.
When a borrower repays irregularly, as remittance-dependent families often do, staff recompute interest by hand for each visit. Mistakes favour one side or the other. System-calculated accrual on the actual outstanding, day by day, gives a figure both parties can accept.
A society secretary usually learns the extent of arrears when preparing the audit. A daily overdue list by branch, product and age, with reminder messages sent automatically, lets recovery start within days of a missed instalment and not months.
Title deeds, gold packets and guarantor papers are held against loans, and finding them at closure can be embarrassing. Recording each security item against the loan, with its storage location and release record, protects the institution and the member.
Cooperative credit societies
Member-linked loan accounts, surety tracking so one member does not guarantee beyond limits, share-linked eligibility rules, and branch-wise portfolio reports for societies operating from Payyannur to Thalassery.
Retail finance and dealer credit
Instalment schemes offered by appliance, furniture and two-wheeler dealers in Kannur town, with schedules generated at the point of sale, collection tracking and clear visibility of which customers are behind.
Workers' welfare and thrift funds
Small loans to members of handloom and beedi workers' societies recovered through payroll deduction, with thrift deposits, loan balances and eligibility visible on one member statement.
Lending data is sensitive and must balance to the last paisa, so migration is the heart of the project. We take your existing loan ledgers, rebuild each account's schedule in the system and reconcile outstanding principal and interest with your books before go-live. Our consultants visit Kannur to understand your products and bylaws and to train counter staff. Configuration and reports are built in Kochi, with your secretary or manager reviewing each product setup.
Case studies
Dumas Bakes N Meals Private Limited
Dumas Bakes N Meals — ERPNext Lifted On-Time Deliveries by Over 40%
JPC Enterprises
JPC Enterprises — ERPNext Cut Procurement Delays 40% on Offshore EPC Projects
Kerala State Road Transport Corporation (KSRTC)
KSRTC — ERPNext Courier System Delivered ₹1 Crore in Profit
No, and we say so plainly. It is loan management within an ERP: strong on loan products, schedules, collections and accounting. Institutions needing full deposit banking, clearing and regulatory core banking functions require a different class of product. Many lenders do not.
In most cases, yes. Flat or reducing balance, different rates by product, penal interest after a grace period, rebates for prompt payment and moratoriums are configurable. Unusual bylaw provisions are handled through customisation after we have read the actual rule.
Yes. A mobile interface lets an agent see the day's due list, record a collection and issue an acknowledgement on the spot. Entries reach the loan account immediately, so the counter and the agent never work from different balances.
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Kochi (Kadavanthra & Infopark) · Thiruvananthapuram · across India & overseas · In business since 2011