How Do I Start and Configure a New Loan Contract in ZimpleMoney?

When logged into your ZimpleMoney account, click the Start A New Contract button at the top right to create a contract using our Loan Builder wizard.

On Step 1, fill in the basic details of the loan including the name of the loan, the amount, term, interest rate, when you want to start calculating interest from and when payments should begin.

Here you will see a drop down option for Fees and Advanced Settings. This is where you set the loan type. Learn more about setting the loan type for a new ZimpleMoney loan contract here.

Select Next when you’re ready to move to Step 2.

For Step 2, you can now add your borrower’s email address and mobile phone number. The borrower will receive an invitation to join ZimpleMoney when their email address is added to the loan contract. The borrower’s email address and the mobile number are assigned to the loan contract and used for sending payment reminders.

Also at this step, you can also add additional borrowers and co-lenders to the contract. All participants added to the loan contract will receive an invitation to set up their own ZimpleMoney account login credentials.

When you’re ready, click Next.

For Step 3, at the top of this step you will see the details of the loan contract setup and options to select where you want loan payments to be deposited. You also can choose a payment method to be charged the new loan setup fee, or leave it to the default payment method you chose when you registered for your ZimpleMoney account.

Check the boxes to accept ZimpleMoney’s terms, then click the Confirm button to complete the loan setup.

Watch this detailed video tutorial to see a new loan contract setup in action:

Once you've added your loans to your ZimpleMoney account, you can view all of them under the My Portfolio.

Adjust the view of your loan portfolio using our custom filters, as shown in the video below: