Frequently Asked Questions
Q. Can I save documents and files?
A. Yes, each contract has a document file for saving important documents related to the agreement. Items such as notes, leases, financial data, spreadsheets, budgets, photos of collateral, or other items.
Q. How do I upload document files?
A. The loan originator controls the upload tool. From the contract file click on the Documents Tab – on the right side of the gold title bar click Add Documents; Describe/Name it, Add or Browse your file; and click the Add button.
Q. I forgot my username and/or password, what now?
A. No Problem! Click through the
Forgot Password page then type in your e-mail. A new password link will be sent to the e-mail address you entered.
Q. Does Zimple Inc. provide credit reporting to third party credit bureaus?
A. Not yet. We plan on offering credit reporting as an option to our members.
Q. How is interest determined?
A. The contract parties decide what a fair rate of interest is. Interest charged in excess of State’s Usury limits is not collectable. It is important to check the usury laws that apply to your loans. See the following link:
http://www.usurylaw.com/state/.
Q. How is interest paid?
A. Interest can be paid monthly, quarterly, or annually. In some cases we can allow for twice monthly payments.
Q. How are payments made?
A. Payers log into their Zimple account, select the contract they wish to pay, select the payment tab, check the payment they wish to make and add any additional principal, then click the submit button.
Q. How does lender advance money to the borrower?
A. Today the lender advances money to the borrower outside of the Zimple system. This is a feature that may change in the future.
Q. When does interest begin to accrue?
A. Interest begins to accrue on the date you assign when the loan is set-up. During the set-up you will be asked to fill out a form that includes the interest starting date. This is generally the day money is given to the borrower or in the case of an existing loan, the interest paid to date of the existing note.
Q. What if I have question about my accounts or I made a mistake?
A. Contact us at members@zimplemoney.com and we can answer your questions or correct errors.