Here are some questions answered for you

Do I need any specific IT Infrastructure to use SparkLMS?

A big NO. All you need to do is contact us, sign a contract and start using SparkLMS in 4 to 6 weeks.

Does SparkLMS support electronic loan agreement?

IT DOES. SparkLMS allows you to create multiple loan agreements. These loan agreements will be generated for each and every loan in SparkLMS with unique codes. These electronic loan agreements can be signed electronically too.

How do I funnel my organic leads from my websites and landing pages into SparkLMS?

SparkLMS has many open APIs, one of them is to listen for leads. An HTTP post from your websites and landing pages will land in SparkLMS.

Does SparkLMS support image upload or sign for electronic loan agreement?

YES. SparkLMS has an inbuilt component that allows customers to sign or upload image as their sign. In addition to that, SparkLMS is already integrated with DocuSign & HelloSign if you choose to go for a Third-Party.

Is SparkLMS Integrated with Credit Bureaus?

YES. SparkLMS is integrated with multiple credit bureaus such as DataX, Clarity, Microbilt, FactorTrust, etc. Not only these, SparkLMS is integrated with multiple ACH providers too.

Does SparkLMS create websites?

YES. We design websites for lenders that will be integrated with SparkLMS. The websites will be compatible with any device be it a mobile or a tablet or a computer. We offer a content management system too along with the website, which reduces the dependency on us.

How do I send text messages like payment reminders, rebates etc to customer’s mobile number?

SparkLMS provides option to send manual as well as automated text messages. It is integrated with SMS providers such as ClickSend and Solution-By-Text. All you need to do is provide credentials for the SMS providers and start sending texts with ease. Note: Using these third party text messaging will be charged separately by the respective providers.

What is the timeline needed to launch a lending portfolio with SparkLMS?

A standard timeline of 4 to 6 weeks is followed by SparkLMS to launch a portfolio. Depending upon the changes requested by you, the timeline may vary.

Does SparkLMS allow the borrowers to access their loan details?

YES IT DOES. SparkLMS provides a customer portal that allows borrowers to login and view their respective loan details. In addition to that, the portal allows them to apply for a new loan or pay the due or pay the loan in full.

What is it going to cost me for using SparkLMS?

Depending upon the deployment model you choose the rates may vary. Either a one-time cost to have SparkLMS in your premise or a Monthly cost with a one-time setup fee. Please contact us to know more about the costing.

I want to have the LMS within my premises. Is there such an option with SparkLMS?

Absolutely YES. SparkLMS provides a tailor made deployment option just for lenders with such questions. It can be deployed at a one-time cost, where the infrastructure will be yours. This deployment option comes with 3 months of free support

I am already using an LMS that is in the market. Can you move my existing customers to SparkLMS?

YES. We can migrate your customer data along with their loans to SparkLMS. This would usually require a 4 to 6 weeks timeline based on the complexity of your existing database. This timeline is parallel to the portfolio launch.

Can I have specific reports included in the LMS?

SparkLMS has an extensive reporting module that act as a separate application. It has 30 predefined reports and option to create your own reports. If your reporting requirement is not met in any of these 30+ reports, then we can have it included of you by estimating the effort.

I have a Brick & Mortar store. Can I use SparkLMS?

SparkLMS is developed keeping in mind the Brick & Mortar stores too to empower them embrace online lending with a smooth transition. i.e. you can use SparkLMS in a Brick & Mortar store and online lending alike.