Loan administration is the ongoing management of a loan after closing, including tracking balances, calculating interest and fees, processing payments, monitoring covenants and reporting to lenders. Many parties distinguish between loan administration and loan agency with the primary difference being loan administration does not engage the borrower (or other lenders in a syndicate) directly but rather tracks the loans for a given lender while another party, the loan agent, manages the relationship with the borrower and other lenders. LoanStreet CLS is loan administration software that automates servicing for commercial, corporate and private credit loans.