Workshop 1 System Selection and

Definition

CDOLend Lending Database






Members:
Estoconing, Chin
Mira, Sean Mark

1

CDOLend is a lending firm situated at Cagayan de Oro City. It started around 2013 and
after a year of operation is now attracting a lot of customers. Their simple service of
lending is offered to low and middle class citizens of the city. It offers flexible modes of
payment of weekly, monthly, and yearly to the customer with a low interest rate. For the
firm, customer relationship is valued and they make sure that the information given by
the customer is kept within the firm. They also make sure that collections within the
month are collected politely through the given contact information. It is also the right of
the firm to visit the address given by the customer if payment was not addressed.
After a year of operation, the firm is still operating under manual procedures. Staffs list
the contact information in papers and filled them alphabetically. Every time someone
needs to inquire about a certain person, staffs would need to search their file cabinet for
the folder. Even the calculation of interest rates is done manually. Manual procedures
would take additional man hours and human errors are likely to be committed.
Two MIT students, Estoconing Chin and Sean Mark Mira, are to address the need of the
firm to have a database program for faster access of information and also automation of
calculation for their interest rates. The database will handle personal information of the
customers but will not include documents (Application for loan, ex: Birth Certificate,
Income Tax Return, and etc.) that have been passed to the firm. The calculation of
interest is fixed for the method of payment (weekly, monthly, and yearly). The students
came up with tentative tables that the system will have. The ff. tables have been
discussed but are not yet finalized:

2

1. Table for Individual Customer Information
a. Personal information
b. Lending history within the firm
c. Money borrowed
2. Table relating to funds
a. Collectables within the month/week/year
b. Total money borrowed by the customers
c. Total money remaining within the firm
d. Collateral to be collected/Total collateral of the customers
3. Customers on due
a. Customers with pending collectables
b. Customers with pending collateral
Given this automation of process will make all of the inquiries faster and lesser prone to
human mistakes. Searching for details would only take a simple search inquiry. Having
the interest rate automated will also make the company spend less in its organization.
The database system will temporarily give the firm a competitive advantage within its
market.
After the installation of the said database, it will change some of the process of the firm.
The documents for application are still there. This will ensure the firm that the customer
is able to pay the certain amount he/she is trying to lend. Operations that will be added
are the ff.:
3

1. Data entries for personal customer information after documents have been
accepted.
2. Data entries for customer loan which will include amount/methods of
payment/collateral/and etc.
3. Update and delete of data entries if needed.
The students are not responsible for the data entry for new and old customers. After all
of the data have been entered the system will automatically do the calculation and
update of the money borrowed by individual customers. Rates are constant and cannot
be change by the firm. The team will start on the system after the acceptance of the
instructor. The members of the team are not situated in one city thus; there would be
remote work from Malaybalay city to Cagayan de Oro city. The remote work has been
already discussed by the team members.