Icon Business Bank Partners with ZimpleMoney to Launch Private Loan Management Software Solution

PASADENA, Calif.--(BUSINESS WIRE)--Jul 8, 2025--

Icon Business Bank, a Southern California-based community business bank, announced today a strategic partnership with ZimpleMoney to simplify private party financing for customers.

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This collaboration gives Icon Business Bank customers access to advanced loan servicing technology that streamlines the management of private loans, leases, and installment payments. Powered by ZimpleMoney’s cloud-based platform and open APIs, businesses can now offer private financing to their customers, creating new revenue streams while improving cash flow management.

“This partnership is about giving our customers more control and more options,” said Ernie Hwang, CEO at Icon Business Bank. “Whether it’s an auto dealer offering purchase financing, a seller note on a real estate transaction, or companies managing an ESOP loan, ZimpleMoney makes it easy to track and manage private financing in a secure, trusted environment.”

ZimpleMoney’s platform features multiple loan types, automated ledgering, integrated payments, borrower portals and detailed reporting—all designed to simplify the complexities of private financing and enhance trust between borrowers and lenders. It provides a compliant, professional framework that brings transparency and efficiency to every step of the process.

“More and more companies are utilizing some form of seller financing to grow their business, but are still relying on spreadsheets to manage it,” said Ted Tekippe, CEO at ZimpleMoney. “We’re thrilled to partner with Icon Business Bank to bring our technology to their customers, giving them the structure and confidence to scale.”

With this offering, Icon Business Bank continues to lead with innovation by offering tools that align with today’s business environment and provide access to more modern solutions.

About ZimpleMoney

ZimpleMoney is a cloud-based accounting and payment platform, purpose-built for managing private loans, leases, installments and seller-financed transactions. With a web-based platform, private label capabilities, and robust APIs, ZimpleMoney can seamlessly integrate into existing business systems, enabling banks, lenders, and software providers to offer embedded lending and servicing experiences at scale.

About Icon Business Bank

Icon Business Bank was founded in September 2023 with a core commitment to delivering sustainable value to clients, shareholders, employees, and the communities we serve. Our operations, including branches in Santa Ana and Riverside, are anchored in a client-centric philosophy that emphasizes integrity, innovation, and personalized service. We view every client relationship as a long-term partnership, providing trusted financial advice and tailored solutions to meet the unique needs of both business and consumer banking segments.

A modern financial solution: Digital accounting and loan management powered by automation and cloud-based software.

WASHINGTON (AP) — President Donald Trump signed a New Year's Eve proclamation delaying increased tariffs on upholstered furniture, kitchen cabinets and vanities for a year, citing ongoing trade talks.

Trump's order signed Wednesday keeps in place a 25% tariff he imposed in September on those goods, but delays for another year a 30% tariff on upholstered furniture and 50% tariff on kitchen cabinets and vanities.

The increases, which were set to take effect Jan. 1, come as the Republican president instituted a broad swath of taxes on imported goods to address trade imbalances and other issues.

The president has said the tariffs on furniture are needed to “bolster American industry and protect national security.”

The delay is the latest in the roller coaster of Trump's tariff wars since he returned to office last year, with the president announcing levies at times without warning and then delaying or pulling back from them just as abruptly.

The Trump administration on Wednesday also signaled it may back away from a steep tariff proposed on Italian pasta that would have put the rate at 107%. The U.S. had threatened to add a heavy tariff on Italian pasta makers after the U.S. Commerce Department launched what it said was a routine antidumping review based on allegations that the pasta makers sold product into the US at below-market prices and undercut local competitors.

A final decision on the sanctions was scheduled for Jan. 2, with the option of extending it.

The Commerce Department said Wednesday that based on a new review, the rates would be lowered to between 2.26% and 13.89% for the pasta makers because they had addressed many of the department's concerns. A final decision is now set for March 12.

Italian farm lobby Coldiretti and another food industry association, Filiera Italia, welcomed the development. The two lobby groups had strongly objected to the original tariffs and urged the Italian government to intervene.

The two associations said the original proposed tariffs would have doubled the cost of a plate of pasta for American families, “opening the door to Italian-sounding products and penalizing the authentic quality of Made in Italy.”

They reported that in 2024, Italian pasta exports to the U.S. amounted to €671 million ($787 million).

“Coldiretti and Filiera Italia will continue to defend our premium pasta exported to the U.S. market, which we have also supported with a strong campaign in the international media,” the associations said in a statement.

Associated Press writer Nicole Winfield in Rome contributed to this report.

President Donald Trump speaks at a New Year's Eve celebration at his Mar-a-Lago club, Wednesday, Dec. 31, 2025, in Palm Beach, Fla. (AP Photo/Alex Brandon)