Expanding Into Line of Credit Lending?
What You Need to Know

Line of Credit

Trandotcom solutions: Your Line of Credit loan software Partner

Change is the only constant in the short-term lending industry. As competitive and regulatory conditions continue to mature, you must be prepared to diversify your loan product portfolio and add new offerings for your customers. Line of credit is an exciting and innovative short-term loan product that continues to grow in popularity among top lenders nationwide for a number of reasons including:

  • Like a virtual credit card, line of credit provides an open-ended relationship without requiring paperwork for every new loan
  • Like short-term and installment loans, line of credit ties credit access to your customers’ pay dates
  • Unlike short-term and installment loans, line of credit is governed under credit card laws
  • Line of credit loans can be offered in many states where short-term and installment loans cannot

Choosing the right lending software is critical to making informed decisions and running your lending business effectively. Partnering with the right software provider therefore becomes a critical decision for your business.   Your software partner should know as much about the lending industry as they do about their technology. As a lender, you need to be concerned about the following four factors when evaluating line of credit software options:

  • Loan product and lending model flexibility – can you make changes based on industry conditions?
  • Ability to access all data on demand to quickly make more informed decisions
  • Maximum data security (protect your most valuable asset – your data)
  • Depth of experience in both the lending and the technology industries

TranDotCom: The Industry Line of Credit Software leader

As more and more lenders look to diversify their lending product portfolio to include line of credit loans, depth of lending industry and technology experience becomes more of a factor.  With more than a decade of experience working with hundreds of lenders, only TranDotCom provides all of the following:

  • More lending model flexibility than any other software provider including:
    • State-by-state lending model
    • Texas CAB/CSO lending model
    • Choice-of-law lending model
    • Tribal lending model
    • International/offshore lending model
  • Loan product flexibility (short-term, installment, line of credit and title lending products)
  • The industry’s most flexible webservices API options to easily import/export data into the system
  • Unique replicated database option providing real-time data access for analysis and decision making
  • Highest level of data security compliance in the industry: PCI Level 1 security
  • Deepest industry experience including customer support employees averaging 7 years’ experience
  • Industry-leading customer training focusing on best practices and CSR ease-of-use
  • The broadest customer base from singular online & storefront lenders to public companies
  • Valuable best practices guidance based on a history of success working with hundreds of online & storefront lenders.

Focus on your lending, Not your software

Worried about the quality and capability of your software?  Concerned your current software is only a short-term fix that won’t help you grow?  Looking for a true “partner” providing guidance and support versus just another vendor? Instead of focusing on your software, you should be focusing on your lending business.  Working with TranDotCom will give you a competitive advantage as TranDotCom has been perfecting industry best practices since 2000.  With industry-leading analytics and data accessibility, TranDotCom offers new and existing lenders our premier Line of credit software to help them improve both profitability and risk diversification.

As the market changes and your software needs evolve, you want a proven partner with the most innovative technology suite and the most responsive customer support.  Only TranDotCom can offer this wide array of benefits to its growing customer base.

If you are looking to learn more about the significant advantages of line of credit lending, take the next step now and CALL US TODAY at 866-735-6862 or email us at sales@tdcemail.com to discuss your requirements.