NetLoan by Netgain Reviews & Product Details

We've recently implemented NetLoan by Netgain, and the experience has been outstanding. Compared to our prior implementation of NetSuite, this was significantly smoother, faster, and less stressful. The Netgain team clearly understands the nuances of loan tracking and automation, and it showed throughout the setup process.

The platform itself is intuitive and has already helped us save a tremendous amount of time on our loan management workflows. What used to be manual and error-prone is now streamlined and accurate. The time savings alone make this tool worth every penny.

Highly recommend for any finance team looking to simplify and elevate their internal loan tracking and reporting processes! Review collected by and hosted on G2.com.

It can be hard to learn because the system is so advanced. Review collected by and hosted on G2.com.

Ease of use once implemented. The implementation team will help with getting all of your loans set up correctly and reconciling to your current setup. Once you've implemented NetLoan, adding new loans, adding additional principal payments, and running monthly journals are a breeze. The reporting is useful as well. Review collected by and hosted on G2.com.

No complaints. The implementation was more detailed than other NetGain products we've implemented, but the implementation team assists with all of the details requested. Review collected by and hosted on G2.com.

NetLoan took a very manual and time-consuming process of reconciling loans in excel and creating monthly journal entries, into an easy monthly process. With a few clicks you make the monthly journal entries for all your loans at one time, and you release your month bills for each of the loans. Setting up a new loan is incredibly fast and easy. Our company tends to use the same lenders so we've set up a lender template and we only need to update the loan specific items. I was able to consolidate balance sheet accounts from a different accounts for each loan to one account for each lender. The detail is easily gained from NetLoan register. As we are completing year-end audit, the reports we were able to provide to the auditors were such a timesaver. They generated reconciling reports and details for each loan. In 2023, debt was an area we struggled to provide everything the auditors needed in a timely, concise format. In 2024, this was something we could provide quickly and easily. It was such a difference. I worked with Hayden through implementation. He was patient and very knowledgeable. Since I have had to reach out to him for help once and he was very willing to jump on a call to assist. Review collected by and hosted on G2.com.

A very minor detail, I wish there was a way to link multiple asset numbers to one loan. The workaround we have to this is that I have labeled all assets in the text fields. I wish the journal entries would reference the loan name rather than the loan ID. This is a lesson learned, I allowed the system to auto name the loans and I may go back and rename the loans to something more meaningful to me as I look at journal entries. Review collected by and hosted on G2.com.

We have been using Netloan for like a year or so and i really liked the internal and externals loan management system. Its integration with netsuite is a good addition. Also the new joinees could able to learn using it relatively quicker due to its simple user interface and documentation. Review collected by and hosted on G2.com.

I found that allowing more flexibility for loan start dates can make it better. Review collected by and hosted on G2.com.

How easy it is do manage monthly transactions. Review collected by and hosted on G2.com.

Nothing comes to mind, we have not run into anything. Review collected by and hosted on G2.com.

Ease of inputting the data, simple to review the schedules and post entries to the general ledger. Not being a loan expert, I was able to follow the process and understand the entries being created thanks to the team at NetGain and the NetLoan tool itself. Review collected by and hosted on G2.com.

So far we have not experienced any downsides. There have been many updates to account for with the tool but that is a factor of NetGain continuing to improve the product which is appreciated. Review collected by and hosted on G2.com.

The schedule can be customized to match precisely your excel calculated, so there is no difference if you migrate existing schedule to the system. Review collected by and hosted on G2.com.

We have not found anything we don't like about it yet. Review collected by and hosted on G2.com.

We are a growing company with over 40 different equipment financing arrangements. Prior to implementing NetLoan we tracked everything in Excel. Monthly payments were never recorded with the correct principal and interest break out and all accounts had to be manually reconciled to the bank quarterly before I could prepare the debt roll-forward. Now all loan payments are recorded accurately each month with just a few mouse clicks. There is a built-in debt roll-forward report that I can run at any time and download to Excel. This has absolutely made my life easier. Review collected by and hosted on G2.com.

The debt-roll forward report is extremely helpful. Review collected by and hosted on G2.com.

Handling loan amortization in NetSuite is complicated and painful. We were looking for a way to automate the day-to-day loan transactions, and NetLoan was the perfect fit. Review collected by and hosted on G2.com.

NetLoan allows for all monthly transactions to be handled with just a few clicks of the mouse. Great audit trail, and an incredibly well built SuiteApp. Review collected by and hosted on G2.com.