📅 March 2026 · 7 min read

# Loan Tracking Software for Small Business

Stop using spreadsheets. Start using software built for small lenders.

If you're running a small lending business — whether it's personal loans, payday advances, equipment financing, or microloans — you need a way to track everything. Most small lenders start with Excel, and most eventually hit a wall.

This guide explains when it's time to upgrade to proper loan tracking software, what to look for, and how to make the switch without losing your mind (or your data).

## The Spreadsheet Problem

#### ❌ Problems with Excel

- Manual interest calculations (error-prone)
- No automatic payment reminders
- Multiple files = multiple versions
- Can't access from phone
- No borrower self-service
- Reporting is painful
- No audit trail

#### ✅ With Loan Software

- Automatic interest calculation
- SMS/email payment reminders
- Single source of truth
- Access from anywhere
- Borrower portal included
- One-click reports
- Complete audit history

## When to Upgrade from Spreadsheets

You need loan tracking software when:

- You're managing more than 20 active loans
- You're spending hours each week on manual calculations
- Borrowers keep asking "what's my balance?"
- You've made errors that cost you money
- You can't easily see your total portfolio value
- You're missing payments because you forgot to follow up

## What to Look for in Loan Tracking Software

📋Loan creation & tracking
🧮Automatic interest calculation
💰Payment recording
📱SMS/Email reminders
👤Borrower profiles
📊Reporting dashboard
☁️Cloud-based access
🔒Data security

## How to Switch from Spreadsheets

1

#### Export Your Current Data

Save your Excel file(s) with all current loans, borrower info, and payment history.

2

#### Choose Your Software

Sign up for a free trial. Test the workflow with a few sample loans before committing.

3

#### Import Your Data

Most software offers data migration. Ezy Loan Manager includes FREE migration — we'll do it for you.

4

#### Verify & Go Live

Check that balances match, train your team, and start using the new system for all new loans.

## Our Recommendation: Ezy Loan Manager

For small lending businesses, we recommend Ezy Loan Manager. It's built specifically for small lenders who are graduating from spreadsheets.

- Simple interface — if you can use Excel, you can use this
- Affordable pricing — starts at $49/month
- FREE migration — we'll import your Excel data
- FREE training — get your team up to speed
- No contracts — cancel anytime

### Ezy Loan Manager

$49/month

Track up to 50 loans. Unlimited users. FREE setup & migration.

Start Free Trial →

## Don't Overpay for Features You Won't Use

Enterprise loan software like Mambu or TurnKey Lender costs $500-$2,000+/month. They're built for banks and large institutions with complex compliance needs.

If you're a small lender with under 500 loans, you don't need that. You need something simple, affordable, and easy to use. That's what Ezy Loan Manager is built for.

### Ready to Ditch the Spreadsheets?

Try Ezy Loan Manager free for 14 days. We'll even migrate your Excel data for free.

Start Free Trial → 💬 WhatsApp Us