Frequently Asked Questions
Q. Who is Zimple, Inc.?
A. Zimple was started in 2008 with the simple idea of offering people a tool to automate and manage financial agreements online.
It was incorporated as a Delaware corporation and currently its main business operation is in California.
Q. What is Zimple’s mission?
A. Our mission to “Capitalize Life’s Passions,” is to encourage people to take ownership of financial capacity to help themselves and others.
Q. How do I buy stock?
A. Zimple is currently a private company so its stock is not available for purchase.
Q. Why would I use ZimpleMoney?
A. There are several reasons you might want to use ZimpleMoney
- You want to keep a private loan professional and more formal
- You want to help someone build their credit
- You need to keep accurate detailed financial records for estate and tax purposes
- You want to help a friend
- You want to help a village
Q. What does “ZimpleMoney” do?
A. Here are some ideas of what you can do with ZimpleMoney:
- Make and manage a private loan
- Collect money owed to you
- Help finance the purchase of a house or car
- Make regular tithes to a place of worship
- Track and manage an insurance settlement
- Track and manage alimony payments
- Manage and track any formal or informal financial agreement
- Make and manage a “program related investment”
- Collect rent from tenants
- Collect capital commitments for schools, hospitals or other non-profits
Q. What types of loans can I manage with Zimple software?
A. Simple interest loans, fully amortized loans, balloon payment loans, interest only loans, and principal and interest at maturity loans.
Q. What does ZimpleAuto do?
A. ZimpleAuto was designed for Auto Dealers making loans to low and middle income families in need of reliable transportation to get to work and school. Many of these families have bad credit or no credit at all. Our Auto Dealer’s serve the “Under Banked and Un-Banked” members of our community. In 2009 the FDIC reported that nearly 26 Million US households fit that description.
Q. Why two Zimples? And will there be more?
A. One of our goals at Zimple was to build a financial services platform that other organizations and businesses could use to manage person-to-person or business-to-consumer transactions. So we built the ZimpleAuto product in part to demonstrate that technical capability.
It is our objective to find other organizations to license ZimpleMoney’s software, and offer it to their customers or members. Organizations like non-profits, places of worship, and charitable trusts can use ZimpleMoney tools to provide micro-loans, social financing, and capital campaigns. Business can use the application to make payroll advances to employees, finance point of sale purchases and extend credit.
Yes, there will be more Zimples and we expect there will be many other companies using the software application and platform to support other meaningful social finance activities in their community. As well as other applications using our payments technology.
Q. How is Zimple different than a bill pay service?
A. Zimple does a few things differently than a bill pay service:
- ZimpleMoney gives contract parties total access to all information
- It lets you share and save documents with all parties online
- It lets you send private messages using ZimpleMoney’s in-network messaging
- It gives all parties 24/7 access to the contract, payments, and terms
- It provides event alerts to all parties in a contract
- It does your financial accounting by updating ledgers automatically
- It provides tax-reporting information
- It saves you time and money
- Once Zimple is set-up, it sends bills, collects payment, updates ledgers and deposits your payment automatically – your bill pay service doesn’t do any of that!
Q. How could I use Zimple?
A. Broadly speaking Zimple sends bills, collects payments, post ledgers and deposits funds into beneficiary accounts. The Zimple software lets you automate your billing and collection in in a secure and confidential environment. This is how members are using it:
- Parents – can make loans to help children and other family members, buy cars, build credit, start businesses, travel, weddings, and buy homes.
- Family and friends – can help you start a business, buy a home, build your credit, buy a car, pay for school, and pay for honeymoon expenses.
- Business owners – manage cash advances to employees, manage loans from personal savings, extend credit terms for customers, and offer point of sale financing and leasing.
- Trusts and estates – track and manage any family loan, home loans, car loans, and loans to build credit, as well as deposit money into multiple beneficiary accounts.
- Charitable foundations – make and manage Program Related Investments, loans to non-profits, manage and collect capital commitments from donors and deposit money into multiple fund accounts.
- Large and small businesses – track, manage, and collect long term accounts receivables, manage cash advances to employees, finance the sale of equipment, and point-of-sale financing.
- Places of worship – manage tithing online, track capital commitments, share project information and reports with donors and deposit money into multiple fund accounts.
- Auto Dealers – make, track and manage loans and loan portfolios, sell loan portfolios to banks, credit unions and other note buyers.
- Landlords – bill and collect rents, and deposit funds into multiple beneficiary accounts.
- Real Estate Investors – Track property loans (that you have extended and or made), rent billing and collection, track investor equity loan management, and deposit funds into multiple beneficiary accounts.
- Banks and Credit Unions – Resell ZimpleMoney tools to Customers that need financial contract collections: Loans, leases, rents, settlements, etc., and deposit funds into multiple beneficiary accounts.
- Accountants – manage client’s contract collections, intercompany and interfamily loans, and deposit funds into multiple beneficiary accounts.
- Attorneys – manage client settlements, notes, interfamily and intercompany loans, manage employee advances, and deposit funds into multiple beneficiary accounts.
- Trust Departments – manage interfamily and intercompany loans, loans to buy homes, cars, investments, art, and other properties; and deposit funds into multiple beneficiary accounts.
- Property Owners and Tenants – send rent bills, collect and pay payments, track payments online, and deposit funds into multiple owner accounts.
- Seller’s financing property – sellers manage loans made to finance the sale of property or other assets, and deposit money to multiple owner accounts.
- Consumer Credit Companies – make and manage loans prior to selling them to investors, banks, credit unions or other loan buyers.
- Commercial Credit Companies - make and manage loans prior to selling them to investors, banks, credit unions or other loan buyers.