Loan Manager
Bank of Albuquerque's Loan Manager is designed to assist corporate borrowing customers in maximizing the use of their funds on a daily basis and minimizing borrowings against their line of credit. At the end of each business day, Loan Manager advances or pays down on a line of credit according to parameters determined by the customer and their Account Manager. If the customer has balances in excess of the predetermined target and has an outstanding balance on their line of credit, Loan Manager automatically debits the DDA account and pays down on the line. If the customer's account balance falls below the target and the customer has not fully borrowed on the line of credit, Loan Manager advances funds from the line and credits the DDA account.
Benefits
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Minimizes interest expense by applying excess account balances to the principal or advancing only those funds needed to cover account activity on your line of credit.
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Eliminates the need to manually advance or pay down on your line of credit.
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The balance on your line of credit including the automated advances or pay downs, is available on a previous day basis via NetConnect.
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