These Terms and Conditions (“Agreement”) govern the loan services offered by the Company (“we”, “us”, “our”) to clients (“Borrower”, “you”, “your”). By applying for and accepting a loan, you agree to the following:
1. Loan Eligibility
- Borrower must be at least 18 years of age.
- Borrower must provide accurate personal and/or business information as requested during the application process.
- Approval is subject to internal assessment criteria.
2. Loan Amounts
- Personal Loans: Minimum USD $5,000 – Maximum USD $100,000
- Business Loans: Minimum USD $100,000 – Maximum USD $1 billion
3. Interest Rate
- All loans are issued at a fixed interest rate of 3% per annum.
- Interest is applied to the outstanding principal balance and is payable as part of monthly installments.
4. Repayment Terms
- Loan tenure ranges from 24 months (2 years) up to 120 months (10 years), depending on the loan agreement.
- Borrower enjoys a 3-month moratorium period (no repayment required for the first 3 months).
- Repayments are due monthly thereafter until full settlement of principal and interest.
5. Upfront Fee Requirement
- An upfront Insurance fee of 10% of the total loan amount is required before disbursement.
- This fee is credited into the Borrower’s account wallet for processing and must be paid before loan release.
- The fee covers: Processing and Administrative Costs, and Insurance Policy Coverage, as the loan is collateral-free.
- This fee is non-refundable under all circumstances.
6. Loan Disbursement
- Once the upfront fee is received in full, loan funds are disbursed within 24 hours to the Borrower’s designated account.
- Disbursement is subject to successful verification of application details and fee confirmation.
7. Collateral & Security
- No physical collateral is required for the loans.
- Borrower agrees that the 10% Insurance fee serves as part of an insurance-backed risk coverage for the unsecured facility.
8. Late Payment & Default
- The Company does not charge late fees.
- However, persistent default beyond 60 days may result in: Suspension of account privileges, Legal recovery action where applicable, and Reporting to relevant credit bureaus.
9. Borrower Responsibilities
- Provide accurate and up-to-date contact and financial information.
- Use the loan strictly for the purpose stated in the application.
- Ensure timely repayment according to the agreed schedule.
10. Company Rights
- We reserve the right to decline any loan application without obligation to provide reasons.
- We may adjust loan policies, rates, or conditions from time to time, with reasonable notice to clients.
- We retain the right to recover outstanding balances through lawful collection methods in case of default.
11. Governing Law
These Terms & Conditions are governed by the laws of the USA and applicable international financial regulations.
12. Agreement
By applying for and accepting a loan, the Borrower acknowledges that they have read, understood, and agreed to these Terms & Conditions.
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