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Computer Science Department
📄 Pages: 65 🧠 Words: 10135 📚 Chapters: 5 🗂️️ For: PROJECT
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CHAPTER ONE
INTRODUCTION
Loan service for small organizations individuals was initiated after a number of considerations on the banking system. Major Banks are mainly guided by financial profit for their shareholders. They are after minimization of financial risks. Such strategies don't leave much room to people on low income or even small organizations that strive for their survival.
This research studied the computer-based loan scheme management system-as was done in Harvard Trust Bank Enugu. Loans are readily given to people who have an account (mostly current Account) in the Harvard Trust Bank. Apart from being a customer to the necessary for giving him loan. Such conditions may include: provision of collateral security, having at lest one guarantor and filling the bank loan management form. The collateral security must be a landed property before the bank will accept it. Also, the guarantor must have an account in that bank and must be a reportable person in the society.
The role of computer in loan scheme management can never be overemphasized. The computerized bank loan management form enables bankers to work without stress. Information can be updated as soon as a positive change occurs.
1.4 SCOPE OF STUDY
This research work will access the design and implementation of computer-based loan scheme management system in Harvard Trust Bank Enugu. It will look into the operations of this bank in the aspect of loan management system. The interest charged on loans as well as the updating of information as soon as they are received.
1.5 CONSTRAINTS
This project will be limited to the data available at hand, data outside the researcher will not be made use of.
The limitations militating against this research are financial constraints, time factor and other circumstances.
1.6 ASSUMPTIONS
Accuracy, efficiency and reliability is associated with computer-based loan scheme management system.
For the purpose of this research, my assumptions can be stated as follows:
1.7 DEFINITION OF TERMS
A. LOAN: This is money lent to an individual or an organization on interest payable at a stipulated time.
B. SCHEME: This means plan or arrangement
C. MANAGEMENT: Group of persons controlling a business.
D. LOAN SCHEME: A plan or arrangement on how to lend money to an individual, a group or an organization.
E. LOAN SCHEME MANAGEMENT: This is said to occur when the group of persons controlling a business plan on how to lend money to an individual, a group or an organization.
F. COMPUTER-BASED: The use of computer in piloting the affairs of any operation.
G. INTEREST: Money paid for the use of money lent to one. Simply, it is the amount charged on loan.
H. COLLATERAL SECURITY: Property, e.g stocks or bonds, pledged as security for repayment of a loan.
I. GUARANTOR: One who supports a borrower in making sure that he/she pays back on the stated time.
J. ACCOUNT: Statement of money paid or received.
📄 Pages: 65 🧠 Words: 10135 📚 Chapters: 5 🗂️️ For: PROJECT
👁️🗨️️️ Views: 375
