NetLoan Reviews

“Excellent for simple integration

Pros

The best part of working with NetLoan was definitely the exceptional support from the NetGain team throughout the implementation. Their expertise, responsiveness and willingness to guide us step by step made what could have been a complex integration feel smooth and effortless. They truly acted as partners, not just vendors and their attention to detail and proactive communication gave us full confidence from start to finish.

Cons

Honestly, there's nothing to dislike about the product. Everything functions as expected and the support team addresses any questions quickly and effectively.

“Reliable loan management tool

Pros

We've been using this tool for about a year now and I really appreciate its internal and external loan management capabilities. Its integration with NetSuite is a great addition. Plus, new team members pick it up quickly thanks to its simple user interface and clear documentation.

Cons

One area where I think the software could be improved is by allowing more flexibility with loan start dates. This added flexibility would help accommodate various loan agreements better and reduce manual work when managing different types of loans.

“Smooth implementation

Pros

Once implemented, NetLoan is very easy to use for us. The implementation team helped us set up all our loans correctly and ensured everything reconciled with our current system. Adding new loans, extra principal payments and running monthly journals has become really easy. The reporting features are also quite useful for monitoring.

Cons

No complaints at all. The implementation process was actually more detailed and thorough than with other products we have used before. Throughout the process, the implementation team assisted with every detail we requested, making it a smooth experience.

“Best time saver

Pros

We've recently implemented NetLoan by NetGain and the entire experience has been outstanding. Compared to our previous NetSuite implementation, this process was significantly smoother, faster and less stressful. The NetGain team clearly understands the nuances of loan tracking and automation and that expertise was evident throughout the setup.

Cons

The platform itself is simple for us and has significantly simplified our loan management processes. What was once manual and prone to errors is now accurate and efficient, saving us a tremendous amount of time, making the tool absolutely worth the investment.

“Saves time

Pros

This software has transformed for us the manual, time-consuming process of reconciling loans in Excel and creating monthly journal entries into a simple monthly routine. With just a few clicks, we can make monthly journal entries for all loans simultaneously and release monthly bills efficiently.

Cons

Setting up a new loan is incredibly fast and easy to do. Since our company tends to use the same lenders frequently, we created a lender template which means we only need to update the specific loan details each time, saving us significant time and effort.

“Easy transactions

Pros

Managing monthly transactions is easy and without any difficulty for me, which makes the entire accounting cycle much smoother. It saves me time, reduces stress and keeps everything organized without extra effort.

Cons

Nothing really comes to mind as a downside or problem. We have been using the software without running into any significant issues and it has performed reliably according to our expectations so far.

“User-friendly software

Pros

The ease of inputting data, reviewing schedules and posting entries to the general ledger stands out. Even without being a loan expert, I was able to follow the process and understand the entries created, thanks to both the NetGain team and the simple NetLoan tool itself.

Cons

So far, we have not experienced any downsides or drawbacks. The tool has received many updates over time which we appreciate because it shows NetGain's ongoing commitment to improving and increasing the product regularly.

“Top software for loan

Pros

The schedule can be fully customized to match precisely to our existing Excel-calculated loan schedules, ensuring that there is no discrepancy when migrating our existing data into the system. This flexibility makes the transition smooth and reliable.

Cons

Up to this point, we have not found anything about the software that we dislike. It has met our needs well and continues to be a dependable tool for managing our loans effectively.

“Easy to Use

Pros

We are a growing company managing over 40 different equipment financing arrangements. Before implementing NetLoan, all tracking was done in Excel and monthly payments were never recorded with the correct principal and interest breakdown. We had to manually reconcile accounts quarterly before preparing the debt roll-forward. Now, all loan payments are accurately recorded each month with just a few clicks and there is a built-in debt roll-forward report that can be run anytime and exported to Excel. This feature has absolutely simplified my workflow and made my life easier.

Cons

The debt-roll forward report is extremely helpful for me to keep track of loan balances accurately over time. It provides clear insights and makes my financial management much easier.

“Effortless Loan Management through NetLoan

Pros

Handling loan amortization directly in NetSuite proved complicated and clunky. We were searching for a way to automate daily loan transactions and NetLoan turned out to be the perfect solution, simplifying the entire process efficiently.

Cons

It allows all monthly transactions to be handled efficiently with just a few clicks. It offers a great audit trail and is an incredibly well built SuiteApp, ensuring reliability and transparency.