Microfinance Loan Granting & Refinance System

Abstract

In the modern business environment along with the technical advancement most of the business functionalities are implemented as software solutions. It has become a very popular trend to come up with easy and efficient solutions to automate business processes. Hence many organizations seek solutions to manage their routine functions and processes. The Microfinance Loan Granting & Refinance System is being developed for the Regional Development Department (RDD) of Central Bank of Sri Lanka (CBSL) which can be accessed by the Authorized Users through the Local Area Network of the bank. The main objective of this system is the computerization of the Microfinance Loan Granting Process of the RDD Department. It should also facilitate the generation of reports required by users. The Proposed system measures the operational efficiency of the loan granting and refinance process. The system provides accurate statistical data for auditing purposes. The main goal of the project is to automate the some of the microfinance loan granting (having common features) schemes of the RDD to achieve high productivity through effectiveness, of its management. And their main objective is to come to a solution which aids to fulfill their company goals. The main functionality of the system is Loan Registration, Refinance and Repayment. The beneficiaries who have obtained loans can also settle their loans before the final installment due date. The system facilitates the early settlements of such loans. There are supporting activities for this major process. Loan Scheme Maintenance, Participatory Financial Institutions and Branch Maintenance, Purpose and Sub purpose Maintenance and User maintenance are done commonly for all the loan schemes. Social Mobilizer Maintenance, Group and Member Maintenance, Unique ID generation for the people who do not have NICs is done as supporting activities for a specific loan scheme. The system also allows generating reports for analytical purposes. The proposed system will be a proper solution to this work flow. Accordingly the system was proposed as a web based solution since it could be easily accessible to users of the system. So the project was implemented using Visual Studio 2008 as the integrated development environment and the SQL server 2005 as the database. Coding was done using the C# language in the .net frame work and the reporting was done using Crystal Reports which is embedded in the .net frame work. At the completion of the project the system will be tested by the system users using actual data in order to verify the accuracy of the system.