Question 1

What loan collection software works for small lenders?

Accepted Answer

FastFee is designed specifically for small lenders — local financiers, Nidhi companies, money lenders and microfinance businesses with 50 to 5,000 loan accounts. It tracks instalment schedules, sends automated WhatsApp reminders and manages collection agents without requiring an IT team.

Question 2

Does FastFee track loan penalties and late fees?

Accepted Answer

Yes. FastFee allows you to configure a grace period and late fee per loan. When a customer misses an instalment beyond the grace period, the system automatically calculates and adds the penalty to the outstanding balance.

Question 3

Can I manage guarantor information in FastFee?

Accepted Answer

Yes. Each loan account in FastFee can store guarantor or reference contact details. When a borrower becomes a persistent defaulter, the system can escalate reminders to the guarantor.

Question 4

Is FastFee compliant for Nidhi company loan tracking?

Accepted Answer

FastFee tracks all loan repayment data with digital receipts, full audit logs and exportable reports. It is suitable for Nidhi companies, cooperative credit societies and small NBFCs for internal tracking and reconciliation.

Feature	Register / Excel	FastFee
NPA early warning	❌ No system	✅ Auto-flags after missed instalments
Penalty calculation	❌ Manual	✅ Auto after grace period
WhatsApp reminders	❌ Manual calls	✅ Multi-stage automated
Guarantor contact	❌ Separate file	✅ Linked in loan record
Loan statement	❌ Manual PDF	✅ Auto-generated anytime
Agent management	❌ Paper lists	✅ App with route allocation

Loan Collection Software for Small Lenders

Free Demo Book Karein

Small Lenders Ki Problems

NPA blindspot

Penalty gum ho jaati hai

Guarantor data missing

No loan statement

Register vs FastFee Loan Collection

Apna Loan Business Modernize Karein

Frequently Asked Questions