All organizations whether large or small have a form of record(s) for their finances. Financial institutions are organizations that offer money lending services to people and business organizations have written records of their clients. A loan management system is a database management system used to automate the loan services of financial institutions. It serves the purpose of easy file retrieval and entry. The automation of loan services not only provides secure services of the loan details to the customer and the organization but also serves the organization huge sums of money that would have been spent on stationary in a case where a file system is used. In short the system will enable money lending organizations to provide good customer relations by being able to preserve the integrity of the loan details, to enable easy file access and retrieval and increase security on customer details. This project is concerned with the design, development and implementation of a database that will enable money lending organizations to record the lending of money, proposed period of servicing the loan, reasons for borrowing, customer details and generating reports about loans.
1.1 Problem statement
The managing of huge data effectively and efficiently for efficient results, storing of confidential information such as the customers details and the loan details, in such a way that the database can be modified proves to be cumbersome. * High costs spent on stationary for the loan application forms * The system is error prone.
* It is easy to temper with the files with the current system. * Lack of properly integrated system to capture customer details and loan application details at the same time. * Either no reports generating in the current system or they are generated with great difficulty. Reports take time to generate in the current system.
1.2 Needs statement
The majority of money lending institutions are...