Loan Monitoring System

ABSTRACT:
This is a formal service provider for customers/companies who are interested for loans
and this is enhanced with communication between the entrepreneur and finance Inc,
stating the reasons for availing financial assistance along with the details of currency
and amount of the financial assistance being asked for.
The company, which applies for financial assistance as well as sanctioned a loan and
pays the installments regularly, is called as entrepreneur. There are monthly invoices
sent by finance Inc to each of its entrepreneur fifteen days advance to the due
installment date. It contains the details of the installment amount, the due date and also
the penalty amount to be paid for payments after due date.
The entrepreneur will pay the amount as the amount of deposit every month against the
bills. It includes the installment amount to be paid before due date and may also include
the dues/ penalties for unpaid bills.
Modules associated with the loan monitoring are:
1. SANCTION OF LOANS.
2. ACCEPTANCE OF LOANS.
3. BILLING INFORMATION
4. PAYMENT
5. INSTALLMENT VERIFICATION.
6. ANNUAL REPORTS.

Terms and Conditions:

These are the terms and conditions I.e., prerequisites set for by the Board of Directors
for the entrepreneur before sanctioning of loan. These conditions must mutually
agreeable before a loan can be sanctioned.
The major terms and conditions are:
1. The amount and currency of loan.
2. The number of installments and the dates in which these are repayable.

CreativeSoft (Corporate Office)

# 412, Annpurna Block,Aditya Enclave,Ameerpet,Hyderabad
500016 Tel : +91-40-40159158Mobile : 91-9247249455
 3. The rate of interest for the loan.
4. Besides interest, penalty for late payments is applied on the loan, depending
on the loan currency the penalty on the loan differs.
Recommendations:
This letter summarizes the findings of the project officer and the operations department
about the entrepreneurs credit worthiness. It also has suggestion regarding the lending
of the amount requested by the entrepreneurs.
Terms and Conditions-Acceptance Letter:
The entrepreneur sends this letter after accepting the various terms and conditions set
forth by the board of directors before sanctioning the loan. This is a prerequisite for a
loan to get sanctioned.
Accept Payment:
Whenever payments are received from the customer, the payments are automatically
adjusted with customer unpaid bills. Oldest bills are adjusted first. In case no amount is
outstanding, the payments amount is retained with the company and adjusted against
future bills.
Check Creditworthiness:
The project officer analyses the information available through the technical and the
annual reports of the entrepreneurs. He then checks these proofs for technical and
financial creditworthy (credibility) and sends the recommendation to Board of Directors,
stating whether the entrepreneur is credit worthy and amount requested can be loan to
him.
HARDWARE REQUIREMENTS:

Processor: PentiumIII
RAM : 256MB

Hard Disk : 20 GB

Floppy Disk : 1.44 MB

CD/ROM Drive : 52 Bit

CreativeSoft (Corporate Office)

# 412, Annpurna Block,Aditya Enclave,Ameerpet,Hyderabad
500016 Tel : +91-40-40159158Mobile : 91-9247249455
Key Board : 101 Standard

Speed : 233MHz

SOFTWARE REQUIREMENTS
Front End : Java (JSP, JDBC)

Backend : ORACLE

Project Overview:
LOAN MONITORING SYSTEM aims at the on-line loan mortgaging system, without
the hassle of going to banks or running to some financial corporations. The main
aim of the project is to design online system to lend loans to the customers. .
The main features of the project is that all the data like customers information,
date of payments, transaction details etc are stored in database, user interactive
is through forms and various outputs can be taken in the form of reports.
MODULES:
This project consists of 4 modules. They are as follows:
1. CUSTOMER
2. ADMINISTRATOR
3. OFFICIAL
4. MANAGEMENT.

This is a formal service provided for customers/companies who are interested for loans
and this is enhanced with communication between the entrepreneur and finance Inc,
stating the reasons for availing financial assistance along with details of the currency
and the amount of financial assistance being asked for.

The company, which applies for financial assistance as well as, is sanctioned
a loan and pays the installments regularly is called as Entrepreneur. Then are
CreativeSoft (Corporate Office)
# 412, Annpurna Block,Aditya Enclave,Ameerpet,Hyderabad
500016 Tel : +91-40-40159158Mobile : 91-9247249455
monthly invoices sent by finance Inv to each of its entrepreneur fifteen days in
advance to the due installment date. It contains the details of the installment
amount, the due date and also the penalty amount to be paid for payments after
due date.

The entrepreneur will pay payment as the amount of deposit every month
against the bills. It includes the installment amount to be paid before due date
and may also include the dues/penalties for unpaid bills.

Modules associated with the Loan Monitoring are:

1 SANCTION OF LOANS
2 NEW PLANS
3 BILLING INFORMATION
4 PAYMENT
5 INSTALLMENT VERIFICATION
6 ANNUAL REPORTS

TERMS AND CONDITIONS:

These are the terms and conditions Ie.prerequisites set for by the Board of
Directors for the entrepreneur before sanctioning of loan. These conditions
must be mutually agreeable before a loan can b sanctioned.

The major Terms and Conditions are:

1. The amount and Currency of the loan

2. The number of installment and the dates on which these are repayable.
3. The rates of interest for the loan
4. Besides interest, penalty for late payments is applied on the loan,
depending on the loan currency; the penalty applied on the loan differs.

CreativeSoft (Corporate Office)

# 412, Annpurna Block,Aditya Enclave,Ameerpet,Hyderabad
500016 Tel : +91-40-40159158Mobile : 91-9247249455
 RECOMMENDATION:

The letter summarizes the finding of the project officer and the Operations
Deportment about the entrepreneurs creditworthiness. It also has suggestion
regarding the lending of the amount requested by the entrepreneurs

TERMS AND CONDITION-ACCEPLTANCE LETTER

The entrepreneur sends this letter after accepting the various Terms and
Conditions set forth by the Board of Directors before sanctioning the loan. This
is a prerequisite for a loan to get sanctioned.

ACCEPT PAYMENT

Wherever payments are received from the customer, he payments are

automatically adjusted with the customer unpaid bills. Oldest bill are adjusted
first. In case no amount is outstanding, the payments amount is retained with
the company and adjusted against future bills.

CHECK CREDITWORTHINESS:

The Project Officer analyses the information available through the technical
and annual reports of the entrepreneurs. He then checks these proofs for
technical and financial creditworthy (credibility) and sends the
recommendation to Board of Directors, stating whether the entrepreneur is
creditworthy and the amount requested can be loaned to him.

CreativeSoft (Corporate Office)

# 412, Annpurna Block,Aditya Enclave,Ameerpet,Hyderabad
500016 Tel : +91-40-40159158Mobile : 91-9247249455
General Methodology In Developing Software Project:
The general methodology in developing a system is involved in different phases, which
describe the systems life cycle model for developing software project. The concept
includes not only forward motion but also have the possibility to return that is cycle back
to an activity previously completed. This cycle back or feedback may occur as a result
of the failure with the system to meet a performance objective or as a result of changes
in redefinition of system activities. Like most systems, the life cycle of the computer
based system also exhibits distinct phases. Those are,

REQUIREMENT ANALYSIS PHASE

DESIGN PHASE
DEVELOPMENT PHASE
CODING PHASE
TESTING PHASE

1. REQUIREMENT ANALYSIS PHASE:

This phase includes the identification of the problem, in order to identify the problem; we
have to know information about the problem, the purpose of the evaluation for problem
to be known. We have to clearly know about the clients requirements and the
objectives of the project.
2. DESIGN PHASE:
Software design is a process through which the requirements are translated into a
representation of a s/w. One of the software requirements have been analyzed and
specified, the s/w design involves three technical activities: design, coding generation
and testing. The design of the system is in modular form i.e., the s/w is logically
partitioned into components that perform specific functions and sub functions. The
design phase leads to modules that exhibit independent functional characteristics. It
even leads to interfaces that reduce the complexity of the connections between

CreativeSoft (Corporate Office)

# 412, Annpurna Block,Aditya Enclave,Ameerpet,Hyderabad
500016 Tel : +91-40-40159158Mobile : 91-9247249455
modules and with the external environment. The design phase is of main importance
because in this activity, decisions ultimately affect the success of software
implementation and maintenance.
3. DEVELOPMENT PHASE:
The development phase includes choosing of a suitable s/w to solve the particular
problem given. The various facilities and the sophistication in the selected software give
a better development of the problem.
4. CODING PHASE:
The coding phase is for translating the design of the system produced during the design
phase into code in a given programming language, which can be executed by a
computer and which performs the computation specified by the design.
5. TESTING PHASE:
Testing is done in various ways such as testing the algorithm, programming code,
sample data debugging is also one of following the above testing.

CreativeSoft (Corporate Office)

# 412, Annpurna Block,Aditya Enclave,Ameerpet,Hyderabad
500016 Tel : +91-40-40159158Mobile : 91-9247249455