Documentation

Innovative Loan Application — Documentation

Last updated: November 19, 2025 — Version: 1.2.0

Overview

Innovative Loan Application is a cloud-hosted, multi-tenant loan management system built for microfinance institutions, cooperative societies, daily collectors, and digital lenders. It offers product configuration, loan lifecycle management, repayment tracking, accounting, and integrations with payment networks and NIBSS.

Key features

  • Multi-tenant architecture: Isolated workspaces and custom subdomains like workspace.innovative.ng.
  • Customer management: KYC capture, document uploads, borrower history.
  • Loan management: Multiple interest methods, flexible schedules, penalties, and restructuring.
  • Repayment collection: Manual and automatic recording, reconciliation, and receipts.
  • Accounting: GL-based ledger, financial reports and downloadable exports.
  • Notifications: Email and SMS alerts for approvals, disbursements, and overdue reminders.
  • Integrations: Payment gateways, NIBSS, and third-party accounting via API.
  • Security: Encrypted storage, role-based access control, and audit logs.

System requirements

For institutions (cloud)

  • Internet connection
  • Modern browser (Chrome, Edge, Safari)
  • PC, tablet or smartphone

For self-hosting (server)

  • PHP 8.1+ (recommended PHP 8.2)
  • Laravel 10+
  • MySQL 8+ or MariaDB equivalent
  • Redis (optional, for queues & cache)
  • Nginx or Apache web server

User onboarding flow

  1. Tenant registration — Visit /register, supply institution name, email and workspace name. System creates default admin and workspace URL.
  2. Initial setup — Add staff, loan products, and upload branding.
  3. Customer onboarding — Collect KYC, documents and guarantor details.
  4. Loan processing — Create application, approve, and schedule repayments.
  5. Disbursement — Mark as disbursed; funds recorded. (If integrated, API transfer triggered.)
  6. Repayments & reconciliation — Record repayments, generate receipts, and reconcile with bank statements.

Admin panel overview

The admin panel is the control center for staff, products, and institution settings. Key modules include:

  • Dashboard: Portfolio at a glance, charts and overdue items.
  • Customers: Directory, profile, documents and KYC status.
  • Loans: Applications, approvals, disbursements and restructures.
  • Finance: Wallet, GL accounts, transactions and exportable ledgers.
  • Settings: Branding, notifications, roles & permissions.

Loan product configuration

When creating a loan product, configure the following:

Setting Description
Interest type Flat or Reducing balance
Repayment cycle Daily / Weekly / Monthly
Processing fees Fixed amount or % of principal
Penalty Fixed or percentage, applied after grace period
Insurance / Add-ons Optional fees per disbursement

Reporting & analytics

Available reports:

  • Loans Disbursed
  • Repayment History
  • Outstanding Portfolio
  • Customer Statements
  • Penalty and Overdue Reports
  • Staff activity

API (developer quickstart)

Authentication is token-based (Bearer tokens). All requests should be sent over HTTPS.

Authenticate

POST /api/login { "email": "admin@workspace.com", "password": "••••••" } Response: { "token": "eyJhbGci..." }

Create customer

POST /api/customers Headers: Authorization: Bearer <token> Body (json): { "first_name":"Jane", "last_name":"Doe", "phone":"+2348010000000", "id_number":"NIN-12345" }

Create loan

POST /api/loans Headers: Authorization: Bearer <token> Body example: { "customer_id": 123, "product_id": 3, "principal": 150000, "tenure": 6, "repayment_cycle":"monthly" }

Record repayment

POST /api/repayments { "loan_id": 987, "amount": 25000, "payment_method": "bank_transfer", "reference": "TRX-2025-0001" }

Full OpenAPI / Swagger docs can be generated on request.

Security

  • Data at rest and in transit is encrypted using industry standard algorithms.
  • Role-based access control with fine-grained permissions for staff.
  • Audit logs record user activity for compliance and investigations.
  • Two-factor authentication available for admin users.

Pricing

Example subscription tiers (local currency: NGN):

Tier Monthly Yearly Highlights
Basic ₦10,000 ₦100,000 Core loan features, single admin
Pro ₦20,000 ₦200,000 Reporting, multi-staff, integrations
Enterprise Custom Custom Branding, dedicated support, SLAs

Support & maintenance

Support channels:

  • Email support — ifo@innovative.ng (24/7 ticketing)
  • Dedicated account manager for Enterprise customers
  • Monthly updates and security patching

FAQ

Is this suitable for daily collectors (Ajo/Esusu)?
Yes. The system supports daily contributions, group loans and micro-lending flows.
Can I export data?
Yes. CSV, Excel and PDF exports are available for reports and ledgers.
Can I integrate with my bank?
Yes — NIBSS/EasyPay integration and popular payment gateways (Paystack, Flutterwave) are supported via API.