There are a lot of features for software in the payday loan business that is on the market and it is difficult to evaluate the cost vs. benefits, especially without industry experience. The software is a huge investment $80,000 and climbing but will have a huge impact on the operations, profitability and ease of running your payday loan business.
While the features and benefits of all of the payday software companies look similar there is a reason for the ones that are super cheap. Also remember that it isn’t as easy as start with an inexpensive software package and upgrade later. Many packages don’t work well in importing from another program. Don’t focus on your needs today but instead, where you want your business to be in the future.
Here are a few of the software vendors that have had good results in the payday loan industry. Note that none of these are recommended but to be used as a reference. Please do your in-depth research before purchasing your payday loan business software.
Empower – Synaptic
Payday Loan Manager
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