EnrichHER Business Loans Terms and Conditions
Last Modified: June 18, 2020
EnrichHER Business Loans are commercial loans issued by EnrichHER (“we”, “us” or “our”). The business to which the loan is issued (the “Business”) will be obligated for the loan, together with the individual person applying for the loan, in their individual capacity (the “Authorizing Person” and together with the Business, “you” or “your”).
You must be 18 years or older, a U.S. citizen or resident of the U.S. or its territories to apply for a Business Loan. The Business must be in good standing with EnrichHER at the time of application. The Authorizing Person represents and warrants that they have full power and authority to act as the Authorizing Person and apply for a
Business Loan on behalf of the Business. When you apply for a Business Loan, you are representing that all information in your application is true and accurate.
We reserve the right to verify any information you provide to us or that we have on file for you, including your identity, or mailing address before sending any loan payments or issuing your loan. However, we may also rely on the accuracy, authenticity and completeness of information as you provided it to us. We reserve the right to refuse to make any payment if your request does not meet these Terms and Conditions or the terms of your Loan Agreement, or violates applicable law.
If you currently have an EnrichHER Business Loan outstanding, you are not eligible to apply for another EnrichHER Business Loan. If you had a EnrichHER Business Loan in the past, you may not be able to apply for a new Business Loan for up to 30 days after you paid your previous loan in full. You may have only one Business Loan at a time, except in limited circumstances and only if we pre-approve you for a second Business Loan.
By applying, you agree that we may obtain credit reports and other information about you from other sources, including commercial and consumer reporting agencies and our affiliates. You agree that we will use such information for any purposes, subject to applicable law. Upon request, we will tell you if we have received a consumer report and the name and address of the agency that provided it. You authorize us and our affiliates and subsidiaries to share information we have about you at any time for marketing and administrative purposes, subject to applicable law.
Business Loans are solely for business purposes and may not be used for personal, family or household purposes or any purpose prohibited by law or not otherwise permitted by these Terms and Conditions or your Loan Agreement.
Your Loan Amount and APR
Your loan amount and maximum annual percentage rate (APR) are based on your creditworthiness and other factors at the time of approval. Your approved maximum APR is the highest APR you may receive for any loan
amount you request, up to your approved loan amount. Your actual APR may vary based on the amount you borrow and the repayment period you select, but it will not exceed your approved maximum APR. You must submit an application to find out if you are approved for a Business Loan. We may not approve your application if there has been any material change to your financial condition or creditworthiness, as a result of our fraud review or for other reasons under applicable law.
Your Loan Agreement
If we approve your application, we will present you with your actual loan terms. These terms will include your APR, total interest charges, amount financed, total payments and repayment schedule (including your monthly payment amount). Late fees and returned payment fees may apply. We will also present you with your Loan Agreement and other required disclosures. You, as the Authorizing Person, understand and agree that when you apply for a loan, you are applying for the loan on behalf of the Business and in your individual capacity and acknowledge your intent that any application for a loan requested is a joint application by both the Business and the Authorizing Person. You, as the Authorizing Person, represent and warrant that you will receive a direct benefit as a result of the joint loan. You understand and agree that the Business and the Authorizing Person are each, in their individual capacity, jointly and severally liable for the Total of Payments (as defined in the Loan Agreement) with respect to the loan and for any other amounts set forth in the Loan Agreement. You will
have three (3) days from when we show you your loan terms to review and electronically sign your Loan Agreement. If you do not electronically sign your Loan Agreement within these three days, you will not be able to obtain your loan.
Direct Deposit Business Loans
We will electronically send a payment in the amount of your approved loan to a verified bank account we have on file for you. If you do not have an eligible bank account on file with us, we will ask you to designate a business purpose bank account in your or your businesses’ name after you sign your loan agreement. You will have three (3) days from the date you sign your loan agreement to add a bank account, otherwise you will not receive your loan funds. In some cases, we may need to verify your account by asking you for personal and/or business information. If you are unable or unwilling to satisfy these conditions or we are otherwise unable to verify your new bank account, we will not be able to send any loan funds to you and your loan agreement will be void and unenforceable. In addition, you may not apply again for at least 60 days for another Business Loan.
Privacy Opt-Out Notice
This notice provides information about choices that are available to you as a Business Loan customer relating to the sharing of your personal information among the EnrichHER family of companies and the use of this information for marketing. EnrichHER Business Loans are commercial loans issued by EnrichHER. The EnrichHER family is a group of affiliated companies related by common ownership or control that includes but is not limited to companies with the EnrichHER name.