Last Updated: November 10, 2018
Welcome to LoanFolk℠!
Thanks for using LoanFolk.com and associated tools, products and services (collectively, the “Site”). The Site is provided by Verbank Ventures LLC (“LoanFolk”, “we,” “our,” or “us”), located at 447 Broadway, 2nd FL #424, New York, NY 10013.
By using our Site, you are agreeing to these terms. Please read them carefully. By using or accessing this Site, you intend and agree to be legally bound by this agreement.
You must be a resident of the United States (including its territorial possessions) and at least eighteen (18) years of age to access and use the Site.
THESE TERMS CONTAIN DISCLAIMERS OF WARRANTIES AND LIABILITY (please see Sections 5, 6, and 7). These provisions form an essential basis of our bargain. If you do not agree to these Terms, you are not authorized to access or use the Site or the services offered on the Site and you should stop using and exit the Site.
1. Using our site
PLEASE BE ADVISED THAT WE ARE NOT A LENDER OR PARTY TO ANY LOAN OR OTHER TRANSACTION. We do not make loans or provide other financial products or services described on the Site. Instead, the Site acts as a venue to allow lenders and other parties who are customers of our Site, such as marketing partners and third party finders and aggregators working on behalf of lenders (each, a "Lender"), to offer, in a variety of formats, loans and other authorized products and services to potentially qualifying consumers (each, a "Consumer”; all Consumers and Lenders are referred to together as the Site’s "users") who have visited our Site or affiliated sites and asked to receive information about loans or other products or services from a Lender. We are not involved in the actual transaction between any Consumer and any Lender even though we may, through our Site or other affiliate sites, and with each Consumer’s authorization, collect certain information (collectively, a "Lead") about any Consumer. As a result, the quality, safety or legality of the loans and other financial products or services offered by any Lender, the ability of Lenders to offer, sell or deliver such products or services, or the ability of Consumers to pay for the products or services offered are solely the responsibility of each user and not LoanFolk. We are an independent contractor for all purposes. We are not responsible in any way for the conduct of any Consumer or Lender. We do not endorse or recommend any Lenders, or any loans or other products or services offered by any Lender. We do not provide loan, tax, legal or any other financial advice. We do not guarantee that any of the Lenders to whom we forward any Consumer’s application or information will contact such Consumer or agree to provide the Consumer with the desired or requested loan. If you are a Consumer and you would like personal advice or specific loan recommendations, please consult with a loan counselor or another qualified professional.
The Lenders that can provide you with loans or conditional offers may not respond with offers until they obtain additional information from you, such as the results of a credit check. To help the government fight identity theft, the funding of terrorism and money laundering activities, and to help attempt to verify your identity, Lenders may obtain, verify and record information that identifies each person who applies for or obtains a loan from them. For example, they may ask for your name, Social Security Number or driver’s license number, address, date of birth, and other important information that will allow proper identification of you. By submitting such information on the informational forms available on our Site (collectively, the “Forms”), you authorize us to provide such information to Lenders in order to help you complete your request (including providing you with information about other products or services in which you have expressed an interest). Additionally, by completing a Form, you authorize the Lenders to verify the accuracy and authenticity of all information supplied by you and your eligibility for their programs, both internally and with the assistance of unaffiliated third parties or credit bureaus through a credit check(s). Specifically, and without limiting the preceding sentence, Lenders may first conduct a “soft check(s)” of your creditworthiness to preliminarily assess your eligibility for a loan. Soft checks can remain on your credit report for six months but do not affect your credit score. Following a soft check, Lenders may also conduct a “hard check(s)” to fully evaluate your creditworthiness and your eligibility for a loan. You can learn more about how credit checks can affect your credit score at myfico.com.
You may not be matched with the Lender making any specific quote or offer. Although LoanFolk is compensated by Lenders when we display advertisements for their products or services to you and/or when you respond to a quote or offer for a loan or another product or service from a Lender, LoanFolk does not make any decisions in connection with the loan or other financial product or service. Any compensation from Lenders is payment for LoanFolk’s services, tools and facilities. Your use of the Site constitutes your agreement with this compensation arrangement.
The loans and other financial products and services advertised on and through the Site may not be available in all states, and the availability of such services and the products offered through the Site may change from to time without notice. Lenders are not attempting to offer to make loans outside of their authorized states or country by participating in and offering their products or services on the Site. Lenders may discontinue, suspend or terminate the offering of any loan or other product or service in any specific state through the Site at any time, without prior notice.
Using our Site does not give you ownership of any intellectual property rights in our Site or the content you access. You may not use content from our Site unless you obtain permission from its owner or are otherwise permitted by law. These terms do not grant you the right to use any branding or logos used on our Site, including the LoanFolk name and logo. Don’t remove, obscure, or alter any legal notices displayed on or along with our Site.
Our Site displays some content that is not our own; for example, content belonging to our advertisers or other users. This content is the sole responsibility of the individual or entity that makes it available. We may review content to determine whether it is illegal or violates our policies, and we may remove or refuse to display content that we believe violates our policies or the law. But we do not generally review content beforehand, and we are not obligated to do so.
In connection with your use of the Site, we may send you service announcements, administrative messages, and other information. You may opt out of some of those communications, for example, by clicking on the “unsubscribe” link in marketing e-mails or texting “Stop” or “Do Not Send” in response to text messages. Please be aware that there may be a brief period before we are able to process your opt-out, but we will always respect your legal rights to opt out of receiving unwanted messages.
The Site is available on mobile devices. Using the Site may cause you to incur SMS or data charges with your wireless provider. Please be aware that we have no control over these charges, and if you do not wish to be charged, you should stop using the Site on your mobile device.
2. Privacy and Feedback
3. About Software in our Site
LoanFolk.com gives you a personal, worldwide, royalty-free, non-assignable and non-exclusive license to use the software we provide to you as part of the Site. This license is for the sole purpose of enabling you to use and enjoy the benefit of the Site as provided by us, in the manner permitted by these terms. You may not copy, modify, distribute, sell, or lease any part of our Site or included software, nor may you reverse engineer or attempt to extract the source code of that software, unless laws prohibit those restrictions or you have our written permission.
4. Modifying and Terminating our Site
We are constantly changing and improving our Site. We may add or remove functionalities or features, and we may suspend or stop the Site altogether.
You can stop using the Site at any time, although we’ll be sorry to see you go. We may also stop providing the Site to you, or add or create new limits to the Site, at any time.
5. Our Warranties and Disclaimers
We provide the Site using a commercially reasonable level of skill and care and we hope that you will enjoy using it. But there are certain things that we don’t promise about the Site.
OTHER THAN AS EXPRESSLY SET OUT IN THESE TERMS OR ADDITIONAL TERMS, NEITHER LOANFOLK NOR ITS LICENSORS, SUPPLIERS OR DISTRIBUTORS MAKE ANY SPECIFIC PROMISES ABOUT THE SITE. FOR EXAMPLE, WE DON’T MAKE ANY COMMITMENTS ABOUT THE CONTENT WITHIN THE SITE, THE SPECIFIC FUNCTIONS OF THE SITE, OR THEIR RELIABILITY, AVAILABILITY, OR ABILITY TO MEET YOUR NEEDS. WE ALSO DO NOT MAKE ANY WARRANTIES OR COMMITMENT RELATING TO NON-INFRINGEMENT, FREEDOM FROM VIRUSES OR OTHER HARMFUL CODE, OR ERROR-FREE OR UNINTERRUPTED OPERATIONS. WE PROVIDE THE SITE “AS IS”.
SOME JURISDICTIONS PROVIDE FOR CERTAIN WARRANTIES, LIKE THE IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. TO THE EXTENT PERMITTED BY LAW, WE DISCLAIM ALL WARRANTIES.
6. Liability for our Site
WHEN PERMITTED BY LAW, LOANFOLK, AND OUR LICENSORS, SUPPLIERS AND DISTRIBUTORS, WILL NOT BE RESPONSIBLE FOR LOST PROFITS, REVENUES, OR DATA, FINANCIAL LOSSES OR INDIRECT, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES.
TO THE EXTENT PERMITTED BY LAW, THE TOTAL LIABILITY OF LOANFOLK, AND OUR LICENSORS, SUPPLIERS AND DISTRIBUTORS, FOR ANY CLAIMS UNDER THESE TERMS OR RELATING TO YOUR USE OF THE SITE, INCLUDING FOR ANY IMPLIED WARRANTIES, IS LIMITED TO THE AMOUNT YOU PAID US TO USE THE SITE (OR, IF WE CHOOSE, TO SUPPLYING YOU THE SERVICES PROVIDED BY THE SITE AGAIN).
IN ALL CASES, LOANFOLK, AND ITS LICENSORS, SUPPLIERS AND DISTRIBUTORS, WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE THAT IS NOT REASONABLY FORESEEABLE OR THAT IS DUE TO EVENTS OUTSIDE OF OUR REASONABLE CONTROL, SUCH AS WARS, CRIMINAL ACTIVITIES, STORMS, NATURAL DISASTERS, ACTS OF GOVERNMENT, SUPPLY INTERRUPTIONS, OR TELECOMMUNICATION OR INTERNET FAILURES.
YOU AND YOUR HEIRS, SUCCESSORS, AND ASSIGNS HEREBY FOREVER IRREVOCABLY RELEASE, DISCHARGE, AND HOLD HARMLESS LOANFOLK, THEIR AFFILIATES, AND ITS AND THEIR SUCCESSORS AND ASSIGNS, AND ITS AND THEIR OFFICERS, DIRECTORS, EMPLOYEES, AND AGENTS (COLLECTIVELY, “LOANFOLK PARTIES”) FROM, AND AGREE NOT TO SUE ANY LOANFOLK PARTY FOR, ANY LIABILITIES, CLAIMS, OBLIGATIONS, SUITS, ACTIONS, DEMANDS, EXPENSES, AND DAMAGES WHATSOEVER (COLLECTIVELY, “LIABILITIES”) THAT YOU MAY HAVE AGAINST ANY LOANFOLK PARTY WHETHER EXISTING NOW OR IN THE FUTURE, WHETHER KNOWN OR UNKNOWN, ARISING OUT OF OR IN CONNECTION WITH YOUR OR A THIRD PARTY’S CONDUCT RELATED TO USE OF THE LOANFOLK SERVICES. YOU UNDERSTAND AND ACKNOWLEDGE THAT THE FOREGOING SENTENCE RELEASES AND DISCHARGES ALL LIABILITIES, WHETHER OR NOT THEY ARE CURRENTLY KNOWN TO YOU, AND YOU WAIVE YOUR RIGHTS UNDER CALIFORNIA CIVIL CODE SECTION 1542.
IN THE EVENT THAT YOU HAVE A DISPUTE WITH ONE OR MORE OTHER USERS OF, AND/OR LENDERS ADVERTISING THEIR SERVICES ON, THE SITE (INCLUDING, WITHOUT LIMITATION, ANY DISPUTE BETWEEN ANY LENDER AND CONSUMER REGARDING ANY LOAN OR OTHER TRANSACTION), YOU HEREBY AGREE TO RELEASE, REMISE AND FOREVER DISCHARGE THE SITE AND LOANFOLK, EACH OF THEIR RESPECTIVE AGENTS, DIRECTORS, OFFICERS, MEMBERS, MANAGERS, EMPLOYEES, SUCCESSORS AND ALL OTHER RELATED PERSONS OR ENTITIES FROM ANY AND ALL MANNER OF RIGHTS, CLAIMS, COMPLAINTS, SUITS, DEMANDS, CAUSES OF ACTION, PROCEEDINGS, LIABLITIES, OBLIGATIONS, LEGAL FEES, COSTS, AND DISBURSEMENTS OF ANY NATURE WHATSOEVER, WHETHER KNOWN OR UNKNOWN, WHICH NOW OR HEREAFTER ARISE FROM, RELATE TO, OR ARE CONNECTED WITH SUCH DISPUTE AND/OR YOUR USE OF THE SITES OR THE SERVICE. IF YOU ARE A CALIFORNIA RESIDENT, YOU WAIVE CALIFORNIA CIVIL CODE SECTION 1542, WHICH SAYS: "A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH, IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR" (OR ANY EQUIVALENT STATUTORY PROVISION WITH A SIMILAR IMPORT OR INTENT). IF YOU ARE A RESIDENT OF A STATE OTHER THAN CALIFORNIA, YOU EXPLICITLY WAIVE THE TERMS AND PROTECTIONS OF ANY STATUTE OF YOUR OWN STATE THAT HAS A SIMILAR IMPORT OR INTENT.
8. Business/Employer Uses of our Site
If you are using the Site on behalf of a business or employer, that business or employer accepts these terms.
You hereby agree to indemnify, defend and hold harmless LoanFolk, its affiliated companies, and their respective directors, officers, employees, agents, representatives, partners, contractors, successors and assigns from and against all claims, losses, expenses, damages and costs (including, but not limited to, reasonable attorneys' fees), resulting from or arising out of your actual or alleged breach of these terms, any content you provide through the Site, or your use or misuse of the Site. However, you will not be responsible for claims, damages and costs which are found by a court of competent jurisdiction to have arisen solely from our wrongful acts or omissions.
10. About these Terms
We may modify these terms or any additional terms that apply to the Site to, for example, reflect changes to the law or changes to our Site. You should look at the terms regularly and the “Last Updated” date at the beginning of these terms. We’ll post notice of modifications to these terms on this page. Changes will not apply retroactively and will become effective no sooner than ten (10) days after they are posted. However, changes addressing new functions for the Site or changes made for legal reasons will be effective immediately. If you do not agree to the modified terms for the Site, you should discontinue your use of the Site.
These terms control the relationship between LoanFolk and you. They do not create any third party beneficiary rights. If you do not comply with these terms, and we don’t take action right away, this doesn’t mean that we are giving up any rights that we may have (such as taking action in the future). If it turns out that a particular term is not enforceable, this will not affect any other terms.
The laws of the United States and the State of Delaware, excluding Delaware’s conflict of laws rules, will apply to any disputes arising out of or relating to these terms or the Site.
You may not assign or delegate your rights or obligations relating to these terms without our prior written consent. We may assign these terms or assign or delegate any of our rights or obligations at any time.
For information about how to contact LoanFolk, please visit our contact page.
11. Binding Arbitration
Without limiting Sections 6 or 7, to the extent permitted by law, you agree to the following:
a. Purpose. Any and all Disputes (as defined below) involving you and LoanFolk will be resolved through individual arbitration. In arbitration, there is no judge or jury and there is less discovery and appellate review than in court. This Section 11 (the "Arbitration Provision") shall be broadly interpreted.
b. Definitions. The term "Dispute" means any claim or controversy related to the Service or the Software, including but not limited to any and all: (1) claims for relief and theories of liability, whether based in contract, tort, fraud, negligence, statute, regulation, ordinance, or otherwise; (2) claims that arose before these Terms or any prior agreement; (3) claims that arise after the expiration or termination of these Terms; and (4) claims that are currently the subject of purported class action litigation in which you are not a member of a certified class. As used in this Arbitration Provision, "LoanFolk" means LoanFolk and any of its predecessors, successors, assigns, parents, subsidiaries and affiliated companies and each of their respective officers, directors, employees and agents, and “you” means you and any users or beneficiaries of your access to the Services.
c. Initiation of Arbitration Proceeding/Selection of Arbitrator. The party initiating the arbitration proceeding may open a case with the American Arbitration Association (“AAA”) by visiting its website (www.adr.org) or calling its toll-free number (1-800-778-7879). You may deliver any required or desired notice to LoanFolk by mail to 447 Broadway, 2nd FL #424, New York, NY 10013.
d. Right to Sue in Small Claims Court. Notwithstanding anything in this Arbitration Provision to the contrary, either you or LoanFolk may bring an individual action in a small claims court in the area where you access the Service(s) if the claim is not aggregated with the claim of any other person and if the amount in controversy is properly within the jurisdiction of the small claims court.
e. Arbitration Procedures. This Arbitration Provision shall be governed by the Federal Arbitration Act. Arbitrations shall be administered by AAA pursuant to its Consumer Arbitration Rules (the “AAA Rules”) as modified by the version of this Arbitration Provision that is in effect when you notify LoanFolk about your Dispute. You can obtain the AAA Rules from the AAA by visiting its website (www.adr.org) or calling its toll-free number (1-800-778-7879). If there is a conflict between this Arbitration Provision and the rest of this Agreement, this Arbitration Provision shall govern. If there is a conflict between this Arbitration Provision and the AAA rules, this Arbitration Provision shall govern. If the AAA will not administer a proceeding under this Arbitration Provision as written, the parties shall agree on a substitute arbitration organization. If the parties cannot agree, the parties shall mutually petition a court of appropriate jurisdiction to appoint an arbitration organization that will administer a proceeding under this Arbitration Provision as written applying the AAA Consumer Arbitration Rules. A single arbitrator will resolve the Dispute. Unless you and LoanFolk agree otherwise, any arbitration hearing will take place in New York, NY. The arbitrator will honor claims of privilege recognized by law and will take reasonable steps to protect customer account information and other confidential or proprietary information. The arbitrator shall issue a reasoned written decision that explains the arbitrator’s essential findings and conclusions. The arbitrator’s award may be entered in any court having jurisdiction over the parties only if necessary for purposes of enforcing the arbitrator’s award. An arbitrator’s award that has been fully satisfied shall not be entered in any court.
f. Waiver of Class Actions and Collective Relief. THERE SHALL BE NO RIGHT OR AUTHORITY FOR ANY CLAIMS TO BE ARBITRATED OR LITIGATED ON A CLASS ACTION, JOINT OR CONSOLIDATED BASIS OR ON BASES INVOLVING CLAIMS BROUGHT IN A PURPORTED REPRESENTATIVE CAPACITY ON BEHALF OF THE GENERAL PUBLIC (SUCH AS A PRIVATE ATTORNEY GENERAL), OTHER SUBSCRIBERS, OR OTHER PERSONS. THE ARBITRATOR MAY AWARD RELIEF ONLY IN FAVOR OF THE INDIVIDUAL PARTY SEEKING RELIEF AND ONLY TO THE EXTENT NECESSARY TO PROVIDE RELIEF WARRANTED BY THAT INDIVIDUAL PARTY’S CLAIM. THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON’S CLAIMS, AND MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A REPRESENTATIVE OR CLASS PROCEEDING.
g. Arbitration Fees and Costs. If your claim seeks more than $75,000 in the aggregate, the payment of the AAA’s fees and costs will be governed by the AAA rules. If your claims seek less than $75,000 in the aggregate, the payment of the AAA’s fees and costs will be LoanFolk’s responsibility. However, if the arbitrator finds that your Dispute was frivolous or brought for an improper purpose (as measured by the standards set forth in Federal Rule of Civil Procedure 11(b)), the payment of the AAA’s fees and costs shall be governed by the AAA Rules and you shall reimburse LoanFolk for all fees and costs that were your obligation to pay under the AAA Rules. You may hire an attorney to represent you in arbitration. You are responsible for your attorneys’ fees and additional costs and may only recover your attorneys’ fees and costs in the arbitration to the extent that you could in court if the arbitration is decided in your favor. Notwithstanding anything in this Arbitration Provision to the contrary, LoanFolk will pay all fees and costs that it is required by law to pay.
h. Severability and Waiver of Jury Trial. If any part of subsection (f) of this Arbitration Provision is found to be illegal or unenforceable, the entire Arbitration provision will be unenforceable and the Dispute will be decided by a court. WHETHER IN COURT OR IN ARBITRATION, YOU AND LOANFOLK AGREE TO WAIVE THE RIGHT TO A TRIAL BY JURY TO THE FULLEST EXTENT ALLOWED BY LAW. If any other clause in this Arbitration Provision is found to be illegal or unenforceable, that clause will be severed from this Arbitration Provision and the remainder of this Arbitration Provision will be given full force and effect.
i. Continuation. This Arbitration Provision will survive the termination or expiration of these Terms.