Solutions
Loan tracking with accrual-based interest and automatic repayment allocation
Club loans are where spreadsheets fail fastest. Partial repayments, accruing interest, penalty fines, multiple borrowers — one misplaced formula and the treasurer is spending an entire weekend rebuilding balances. Fundify tracks every loan with daily interest accrual, automatic payment allocation, and a clear balance for every borrower.
Key features
Where spreadsheet loan tracking fails
The treasurer pre-calculates total interest at loan disbursement using a spreadsheet formula. But when a member makes a partial repayment early, the formula does not adjust. The balance becomes a guess.
A member pays UGX 300,000 toward their loan. How much goes to interest? How much to principal? If they also have outstanding fines, which gets paid first? The treasurer decides manually — differently each time.
Three members have active loans with different interest rates, different repayment dates, and different partial payment histories. The treasurer's spreadsheet has become a fragile web of VLOOKUP and IF formulas that nobody else can audit.
How Fundify tracks every club loan
Accrual-based interest engine
Interest accrues daily on every active loan based on the loan product's rate and period. The system calculates the exact balance at any point — principal plus accrued interest minus payments made. No spreadsheet formula needed.
Named loan products
Create loan products like 'Emergency Loan (5% per 30 days)' or 'Development Loan (3% per 90 days)'. Each product defines the interest rate, interest period (7/14/21/30/60/90 days or custom), and whether the loan has a fixed duration or is open-ended.
Waterfall repayment allocation
When a borrower makes a repayment, Fundify allocates automatically: outstanding fines first, then accrued interest, then principal. The member and treasurer both see the exact breakdown. No manual splitting, no disputes.
Part of the bigger picture
This is one part of a connected system. Here is how it links to other workflows in Fundify.
Frequently asked questions
See how this fits your club
Start with a free trial, invite your members, and move your records out of spreadsheets.
Track club loans