I built LoanBit after seeing how small lenders, microfinance institutions, credit unions, and community funds were managing large loan portfolios with spreadsheets and WhatsApp. Interest was calculated by hand or with fragile formulas, loan documents were drafted manually, payment reminders were sent manually, and portfolio health was often based on guesswork. Enterprise lending platforms do exist, but most are priced and designed for banks. I found a few options that were somewhat affordable for a 1–3 person microfinance team or a small credit union, but they usually broke down in user experience, administrative overhead, and borrower experience. For a business as serious as lending, teams should be able to run professionally while enjoying the tools they use. Those are the problems I set out to solve. LoanBit covers the full lending lifecycle in one platform: origination, servicing, payments, collections, disbursements, and reporting. No modules to bolt on, and no integrations required to get started. What I’m most proud of is offering a genuinely useful free-forever plan for very small teams just getting started. We also support 10 languages out of the box, because many lenders who need this most are not working in English. I’d love feedback from anyone in lending, fintech, or anyone interested in how small financial institutions operate. Happy to answer questions about the product, the tech stack, or the target market.

LoanBit

Modern loan management for small and mid-size lenders

Modern loan management for small and mid-size lenders