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Gold loans, cooperative society credit and private finance are part of everyday life in Malappuram, and lenders here still track instalments in registers that no auditor enjoys.
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Credit in Malappuram moves through many hands: service cooperative banks and societies in every panchayat, gold loan counters in every town, private financiers funding vehicles and consumer goods, and microfinance groups. Borrowers' incomes are often tied to remittance from abroad, so repayments bunch around salary dates in the Gulf and slip when a job there is lost. Lenders need to see their book clearly, and few do.
Acube implements loan and lending management on ERPNext. Loan products are configured with interest method, repayment frequency, charges and collateral rules. The system covers application and KYC, sanction workflow, disbursal, repayment schedules, part-payment and foreclosure, interest and penalty accrual, collateral records, mobile field collections and NPA reporting. Every loan transaction posts to the general ledger automatically, so the loan book and the accounts agree.
In many societies and finance firms, interest and penal charges are worked out on a calculator when the borrower arrives. Two clerks get two answers. Automated accrual by product rules gives the same figure every time and prints a statement the borrower can take home.
Gold loan counters record ornaments, weight and purity in a bound book, with packets in the strong room. Matching packets to loans during audit is slow. Collateral records linked to each loan, with weight, purity, valuation and release history, make pledge verification a report and not a search.
Without daily overdue lists, follow-up starts only when an account is badly behind. Ageing reports, automatic reminders and a collection app for field staff, with geo-tagged visit notes and on-the-spot receipts, bring attention to an account at the first missed instalment.
Gold loan lenders
Pledge details on every loan, scheme-wise interest, renewal and part-release handling, overdue tracking and branch-wise portfolio reports for gold loan firms with counters in several Malappuram towns.
Cooperative societies and private financiers
Multiple loan products for members, surety and collateral records, sanction committees mapped as approval workflows, and NPA classification with provisioning reports prepared for audit.
Retail and vehicle finance
Instalment credit for two-wheelers, consumer durables and furniture bought from local dealers, with EMI schedules, dealer-wise disbursal and field collection routes around Manjeri, Tirur and Nilambur.
Lending systems carry compliance weight, so discovery is thorough. We visit your main branch and a sample counter in Malappuram to document products, interest rules, registers and audit expectations. Existing loans are migrated with balances verified account by account against your books. Setup is handled from Kochi, and we are present on site for go-live and the first month-end closing.
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Yes. Each active loan is migrated with its original terms, amount disbursed, repayments received, accrued interest and outstanding balance as on the cut-over date. We reconcile totals with your ledger before go-live. Closed loans can be loaded as history or left in the old records, as you prefer.
Yes. The same configuration serves a single counter or a multi-branch lender. A small firm gains most from automated interest, clean statements and a ledger that ties to the loan book. Features such as field collection apps can be added when the book grows.
The system produces NPA classification, ageing, provisioning and portfolio reports, and can be configured to the formats your auditor or regulator asks for. We are software implementers and not compliance advisers, so reporting requirements are confirmed with your auditor and built to that specification.
Get a clear plan, an honest timeline, and a fixed scope. Talk to a real expert today — whether or not you work with us.
or write to info@acube.co
Kochi (Kadavanthra & Infopark) · Thiruvananthapuram · across India & overseas · In business since 2011