Committee appraisal
The credit committee records its appraisal and recommendation against the application.
Lending & guarantors
From 'what could I borrow?' to the last repayment.
Eligibility, guarantors, appraisal, approval, disbursement, repayment and recovery, with every decision made by the office your bye-laws give it to.
See how it works Eligibility
A ceiling members can understand.
Bridge shows each member their borrowing limit and exactly how it was worked out: the deposits that count, your loan multiplier, loans they already have, and guarantees they've given to others. When the number is lower than they expected, the reason is right there.
Deposits that count ₦442,000.00 × multiplier 3 = ₦1,326,000.00 · less existing loan ₦260,000.00 · less guarantees given ₦180,000.00 → you could borrow ₦886,000.00
For the credit committee
Every application, at a glance.
Applications move across one board (awaiting guarantors, appraisal, decision, ready to disburse), and each card shows who it's waiting on and for how long.
Guarantors
Guarantors who know where they stand.
Guarantors agree for themselves, see how much of their savings is held, and hear from the society as the loan is repaid, or falls behind.
- Each guarantor accepts or declines their own request
- Guaranteed amounts are held against their deposits, and shown on their withdrawal quote
- Guarantors are told when the loan is repaid, falls behind or is restructured
- Guarantees are called only by a board decision
Decisions made by the right people.
Approvals your bye-laws require
Set how many approvals a loan needs; Bridge counts them and won't disburse until they're in.
Officer loans, stricter rules
An officer never approves their own loan, and loans to officers are disclosed.
Repayment and recovery
Repayment
Every repayment is split into principal and interest on the member's statement. Payroll check-off is matched to the right loan automatically.
When things go wrong
Arrears are aged and provisioned. The board can restructure a loan or write it off, and every decision is recorded with who made it.
What a loan really costs, before it's accepted.
Every loan quote shows the full cost (interest, fees and insurance) and the instalment, before the member signs.
| Amount | ₦300,000.00 |
|---|---|
| Term | 12 months |
| Interest | 12.00% a year, reducing balance |
| Processing fee | ₦3,000.00 |
| Insurance | ₦1,500.00 |
| Monthly instalment | ₦26,654.64 |
| Total cost | ₦324,355.64 |
Set up your society on Bridge.
Register free, practise on sample data, and go live when you're ready. No sales call needed.
Free to set up and practise. You pay only once you're live.