LoanPro: Loan Management and Servicing Platform
LoanPro is a Utah-based fintech company that provides loan management, servicing, and collections software. Its platform is used by lenders to manage loans after they are issued, handling everything from payments to account tracking. LoanPro operates behind the scenes, powering lending operations rather than offering loans directly.
Headquartered in Farmington, Utah, LoanPro is part of the state’s growing fintech sector focused on financial infrastructure. It helps modern lenders replace older systems with cloud-based, API-driven technology built for digital lending.
The company focuses on loan servicing and lifecycle management, a critical but often overlooked part of lending. This includes tracking balances, processing payments, calculating interest, and managing borrower accounts across different loan types.
Because of this, LoanPro is primarily used by financial institutions, fintech lenders, and companies offering credit products, not by individual consumers.
Website: www.loanpro.io
In Simple Terms
LoanPro is software that helps companies manage loans.
If a business gives out loans—like personal loans, auto loans, or financing—LoanPro provides the system that keeps track of everything behind the scenes. It handles payments, balances, interest, and customer accounts.
It does not lend money itself. Instead, it gives lenders the tools to run and manage their loan operations more efficiently.
Growth
LoanPro was founded in 2014 in Utah by three brothers: Rhett, Ben, and Lloyd Roberts. Before starting the company, they operated an auto dealership and later expanded into lending, where they experienced the limitations of legacy loan servicing systems firsthand.
To solve this, they built their own internal software. As other lenders began asking to use the same system, the product evolved into a standalone platform. The company rebuilt the software around 2013–2014 to support multiple loan types and scalable operations, leading to the official launch of LoanPro as a SaaS platform.
LoanPro grew as demand increased for modern, cloud-based lending infrastructure. In 2021, the company raised a $100 million Series A investment from FTV Capital, marking a major step in its expansion. Today, LoanPro supports hundreds of lenders across the U.S. and Canada and manages billions in loans.
What LoanPro Does
LoanPro provides loan management, servicing, and collections infrastructure.
This means it helps companies:
- Track loan balances and payment schedules
- Calculate interest and fees
- Manage customer accounts
- Process payments and updates
- Handle the full lifecycle of a loan
LoanPro is not a bank and not a lender. It does not provide loans to consumers or businesses. Instead, it supports the companies that do.
Its role is to act as the core system of record for lending operations, helping lenders manage everything that happens after a loan is issued.
Main Products and Services
loanpro.io | Products and Services
LoanPro’s platform focuses on loan management and servicing tools that support the full lifecycle of a loan. Its main offerings include:
- Loan Management System (LMS): The core platform used to track balances, schedules, and loan performance
- Payment and collections tools: Systems for processing borrower payments and managing collections workflows
- Interest and fee configuration: Flexible setup for different loan types and repayment structures
- Customer account management: Tools to manage borrower profiles and account activity
- Automation and workflows: Rules-based processes to streamline servicing and operations
These products are designed for lenders that need flexibility and scalability, including fintech companies, traditional lenders, and businesses offering embedded lending solutions.
Companies Using LoanPro
LoanPro is used by businesses that offer lending products. Its customers are typically organizations that need a system to manage loans at scale, rather than individual consumers.
These include:
- Fintech lenders building digital lending platforms
- Consumer and commercial lenders offering loans directly to customers
- Credit providers managing lines of credit and installment loans
- Companies offering embedded finance, where lending is part of a larger product
LoanPro is designed for B2B use, meaning companies integrate it into their own systems to power lending operations. The platform supports lenders across different loan types and industries, making it flexible for a wide range of use cases.
LoanPro has referenced well-known companies such as SoFi, Chime, Intuit, and WaFd Bank in connection with its platform. These examples reflect the type of organizations that use LoanPro, though many client relationships are not widely detailed.
Competitors
LoanPro operates in a competitive space that includes both modern lending platforms and traditional financial software providers.
Key competitors include:
- Finastra – Provides loan servicing and core banking systems used by financial institutions
- nCino – Focuses on lending workflows and cloud-based banking solutions
- Fiserv – Offers legacy infrastructure and lending systems used by many banks
- TurnKey Lender – Provides end-to-end lending software for digital lenders
LoanPro differentiates itself by focusing on loan management, servicing, and collections after a loan is issued, with an emphasis on API-driven flexibility and cloud-based infrastructure.
Platform, Access, and Business Model
LoanPro operates as a B2B software-as-a-service (SaaS) platform.
Companies access LoanPro through:
- APIs that integrate into their own systems
- A software interface for managing loan portfolios
Its business model is based on providing the technology layer that enables lending operations, rather than earning revenue from loans themselves.
LoanPro is often used alongside other financial infrastructure providers, including payment networks, data platforms, and communication tools. This allows lenders to build a customized technology stack around their lending operations. Platforms like BILL may be used alongside LoanPro to help businesses manage payments and financial workflows outside of loan servicing.
For example, LoanPro has partnered with Mastercard to support new ways of delivering loan funds, including card-based lending experiences that expand how borrowers can access approved funds.
Why LoanPro Matters in Utah
LoanPro contributes to Utah’s growing reputation as a fintech and financial services hub.
As a company headquartered in Farmington, Utah, it represents a segment of the local ecosystem focused on financial infrastructure and SaaS platforms, rather than consumer-facing banking products. This type of company builds the systems that power lending and financial services behind the scenes.
LoanPro is part of a broader group of Utah-based fintech companies, including Lendio and MX, that support different parts of the financial ecosystem—from marketplaces to data platforms to lending infrastructure.
Its presence highlights how Utah is not only home to banks and credit unions, but also to companies building the core technology that enables modern financial services across the United States and beyond.
Limitations
The products are not designed for individual consumers. People cannot use it to apply for loans, open accounts, or manage personal finances directly.
It is focused on loan management, servicing, and collections, not the entire lending process. Companies may still need additional tools for loan origination, underwriting, and customer acquisition.
Because it is an infrastructure platform, the company typically requires technical integration and setup, making it more suitable for established lenders or fintech companies rather than small teams looking for simple, out-of-the-box solutions.
Conclusion
LoanPro is a loan management and servicing platform that operates behind the scenes of modern lending. It provides the systems lenders use to track, manage, and service loans across their full lifecycle.
From a Utah perspective, LoanPro reflects the state’s role in building financial infrastructure companies. While not visible to most consumers, platforms like LoanPro are essential to how lending works today, especially as digital lending and embedded finance continue to grow.
Disclaimer:
This page is not affiliated with, maintained by, or sponsored by LoanPro. The information provided in this overview may be outdated or inaccurate after the publication date. UtahFi does not assume responsibility for the accuracy of the content. The logo is a registered trademark of LoanPro.
