iLoan - Personal Loans

Easy and simple, I’ll be good if can be add daily and monthly interest rate and a monthly reminder. Thanks

This app works great for the price. I needed a simple way to keep track of personal loans, this app does just that. I am having a problem with locking the app (security feature) on my iPad. It will not let me back in after I set it up, and I am retyping in the correct password. I've had to reload the app to open it. I can get along without the security feature. Would like to see continued development of this app! Thank you for it!

I needed a way to keep track of payments and calculate interest for loans to my friends. Earlier versions were a bit buggy, but they seem to worked out now. There are a few limitations that need to be worked around, but once you've got the knack of it it's not hard at all. Pros: -Email payment receipts and statements to borrower. -See payment history and balance at a glance. -Multiple loans per borrower. -Easy to figure out basic usage. Cons: -Only whole dollar amounts for initial loan amount. -Number entries must entered using date entry type select wheels, typing numbers would be much easier. -Compounds interest monthly, but does not say so anywhere. -Cannot change compounding period; creates the following "issues." (The numbers come out like they should, but it causes what looks like odd behavior unless you know what is going on behind the scenes.) -Per diem interest (month to date) value included in display loan balance, but not in calculated balance. --If a payment is posted mid period it is applied to the balance at the end of the last period, not including per diem interest. --Must pull up a statement (as if going to email) to get pay off amount as of last the end of the last period. (Cannot payoff based on displayed balance because it includes per diem interest that has not actually been applied to balance yet.)