loaner

Loaner is a non-trivial toy project for learning Functional Programming.

The goal of loaner is to provide a realistic domain model with a wider breadth of use cases in which to explore functional programming. It follows a somewhat typical enterprise business domain--handling payments on accounts--including the application of relatively complex business rules, interactions with backend services, a UI component, as well as batched processes.

Key Concepts

• Memberships as products
• Accounts
• Loans
• Accounts Receivable
• Financial Concepts: Interest, Principal, Late Fee, Service Fee
• Members
• Authorized Users

Memberships

Travel clubs and institutions providing recreational services often provide customers access to the public through a membership model where a membership is purchased, a monthly or annual service or maintenance fee is paid, and the member has access to the facilities or amenities covered in that membership.

Process Flow

• Customer purchases product, i.e membership.
• Loan is originated by financial institution. -- Customer signs legal documents establishing terms, i.e interest rate. -- Makes downpayment.
• Bill is generated monthly and sent to customer.
• Customer makes online payments monthly through duration of loan.
• Late fees are assessed when installments are not paid by the due date.

Features

• Customer can opt to have payments automatically drafted.
• Customer can opt to make additional payments, i.e. pay-down on principal.

Membership Rules

• Customer cannot make use of membership benefits when account is delinquent more than 60 days.
• Customer can add authorized users to membership.

Annual Servicing Fee

• An annual servicing fee is assessed on the member's account, bill is sent to member.
• Member has the option to pay at once or make payments in monthly installments of 3 or 6 months.

Membership Benefits (Types of Memberships)

• Golf
• Camping
• Hotel accomodations