Forum > Borrower Questions > Zidisha System
I have been a zidisha member for some few years now. Inspite of the challenges I have stuck but of late, the zidisha system malfunctions are throwing me a curb.
To begin, I was told to invest in loan membership fund. Did 8k at first, then 2k. Then I was told to make a 20k payment into the fund so as to be given 83k plus in the next loan.
I did my due diligence but before I could finish the payment, the system changed into 75k....that almost 10k difference. Though disappointed, I persisted to clear the loan as fast as I could. The last payment, I made 6k so as to clear the loan, based on the system pending loan amount.
I made it. After a few days, the system re-embursed the 6k as over payment. A few weeks later, I applied for the 75k, December so as to buy 3 new 5octave Yamaha pianos to handle the student influx.
To my shock, the loan was cancelled after being approved, and that was after close to three weeks of waiting for the loan to be fully funded. The system pointed out I had 3k pending loan balance, which I cleared and now an servicing the 55k loan.
Fast forward to current date. Because of that mistake, I started hiring extra pianos and the cost of handling the student influx lowered the income and my ability to clear the loan in the stipulated timeline I had given.
If there is someone who runs this platform kindly note this. It has made operations very difficult and that why I reduced the payment to what I can manage. Am afraid to make any more loan membership fund. When I keep my end of the bargain, I expect you to uphold your end.
This simple system malfunction has thrown me totally off balance and has made operations extremely difficult. I appreciate this noble cause but I'd appreciate if it was polished to deliver what it says.
If you say I add to loan membership fund or pay before time you add anything please do so when I do my due diligence. Some of us are totally depending on this platform to grow our small enterprises.
But am grateful for the opportunity and the trust you invest in someone you have never met.
Andrew, I think you should file a support ticket so the payments can be looked into as needed.
I've check your account, your 7th loan $ 541.01 still active, the system still think that you haven't fully repaid that loan. If you sure that you have fully repaid that loan, please make a support ticket. Go to help page - choose uncredited payment - no. I'd like to ask help. Please write detail about your payment according the procedure to report your payment that written on that page and attach your proof payment there.
I don't remember exactly when Zidisha give repeat borrower options to make MLF deposit so their next credit limit for the next loan bigger then without make MLF deposit. The announcement on the old forum. I'm sure that everytime borrower applying loan, there are more then one amount choice there, atleast there are 4 options: 1 amount without MLF; 2. amount with little MLF; 3. amount with middle MLF ; 4 amount with the highest MLF. and all of them with detail information the net amount disburs, how much you have to pay and how much are for your next loan amount. it's borrower choice to apply the loan with MLF or not.
Between October - November 2017, there are a lot of payment hasn't credited to their account. All borrowers country that get supported Zidisha effected by this, Indonesia too. I have more then 3 mentee whose payment hasn't credited when they already made the payment. 3 mentee whose have 2 loan active at the same time. their case finally resolved on the middle of Jan 2018. if you think there is your payment that hasn't credited to your account, please make a support ticket. check all of your proof of payment. on Late October 2017, there were a bug that ake the system think the borrower loan has fully repaid when actually they hasn't fully repaid their loan. one of my mentee under name Chris Chyntia having this problem. we (me and Chris) finally find out that chris haven't fully repaid her loan as Zidisha answer (prayush Gupta) from checking Chris bank e-statement. one of Indonesian borrower finally find out that on the date she fully repaid her loan, unknowingly to her, zidisha sent money to her bank account and that's made her have 2 loan active at the same time.
Please read Laurie information
System is made by human, and it need to maintanance regularly to make it working perfectly for everyone who use it. As Laurie explanation on Director, Julia kurnia announcement, right now there are 25 volunteer who helping Zidisha to assist all borrowers in Zidisha and they doing it free. only the Director, Julia Kurnia and CTO, Rodrigo Reyes who get paid in little amount to make this platform zero interest. Please be patient and please make a support ticket to inform zidisha about your account problem. support ticket answered within 3-5 business day US Eastern time. They will help you as best and as fast they can.
Translated by Google
I Don't know the exact time frame for the disburment now. I hope Dave or others Volunteer will answer it.
But from my experience and from read in the forum, when the loan has fully funded, the borrower have a week time to accept the loan. If they doesn't accept the loan in a week, their loan become expired.
(agree to take the loan and everything in it).
I'm afraid your loan get expired because it passed the time frame for disbursment. If you wanna know for sure about it, then please make a support ticket.
With many loan application now, the base credit limit increase for every borrower has decrease to 20%. It used to 50%. This is Zidisha other measure to assist the other borrower to get their loan funded. You can read in this forum that Joost already inform the others that if borrower take little amount the probability their loan get fully funded more higher.
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